MediaBuyerPlanner: Significant changes to Time magazine in the last year, such as a more dramatic look and a new on-sale date, have not led to key changes in media buyers’ appraisal of the magazine.
“Is it fundamentally changing our evaluation? No.” Serge Del Grosso, executive vp, director of media planning at Lowe New York, is quoted as saying in Mediaweek.
In January, Time also began offering advertisers the opportunity to buy ads at a reduced rate base of 3.25 million, or by a guaranteed audience of 19.5 million. In a survey of media buyers, Mediaweek found that nearly a dozen reported that either none of their clients had signed up to buy based on the audience option, or that they hadn’t heard much about it.
The guaranteed audience measurement is measured by MRI’s new Issue Specific Readership Study, data from which will likely come out this week. Buyers feel that the research is too new to be used as a measurement for now. Robin Steinberg, senior vp, director of print advertisement and activation for Mediavest, for example, said that she looks forward to using audience guarantees for all titles when the research is more timely and accurate.
Ed McCarrick, president and worldwide publisher of Time Group agrees that many clients are waiting for issue-specific audience data, adding that a variety of clients have already signed on. He estimates that 20 to 30 percent of clients will be buying based on audience by the end of the year.
McCarrick believes that eventually, audience will be the currency for buying magazines, just as it is for TV, radio and online.
Time managing editor Stengel plans more changes, such as new writers and a fresh approach to covering elections.
Related stories:
- Magazines Forced to Guarantee Audience to Advertisers
- ‘Time’ Considers Elimination of Rate Base
- Changes for ‘Time’ May Mean Good News for ‘Newsweek’
- ‘Time’ Launches New On-sale Date, Sections
- ‘Time’ Arrives Earlier, Delivered on Saturdays
- Stengel: Marketers Need to Shift Thinking
- Stengel Named Time Managing Editor
