A recession economy takes its toll here, there, and everywhere. Independent video studios and other small business owners know this as well as anyone. When your customers feel the pinch, so do you. "Free" trade magazines experience the ebb and flow of the economy too; as the vendor advertising budgets that support us get smaller, so do the magazines. This is happening in virtually all industries these days, ours included. Some of the advertising money is moving to the web, but a good portion of it just disappears.
Some magazines give up the ghost; others go online only. You've probably noticed this happening with the other video magazines you get. It's happened to some of my favorites. When it happens, you spin it as best you can, but no magazine wants to go out of print, and it's a loss to the industry whenever it happens.
There's way too much happening in the world of event filmmaking that EventDV covers for your magazine to shrink or retreat, and so far we've held the line. Whatever the financial impact of our struggling economy, in terms of innovations and new trends, this industry has never been more exciting to cover.
As event videographers shuck off the negative images of the past, master new production tools, pioneer new looks and techniques, and retool old business models for the changing economy, magazines such as EventDV need to examine our business models as well. We have, and we've concluded that our old advertising-based business model-adopted by EventDV predecessor EMedia in the late '90s when we were all riding the same wave-wasn't made for these times.
Gone are the days when it makes sense to put our readers and the content we're able to offer them at the mercy of equipment vendors' shrinking advertising and marketing budgets. Especially when the companies at the heart of our industry--stalwarts like Sony and Panasonic--are laying off upwards of 15,000 employees each, it's not hard to understand why the print-ad budgets dwindle.
Instead of relying on the big-ticket investments of a small pool of vendors to underwrite our efforts, we will now look to the people we produce this magazine for-our readership-and ask you to commit the much smaller sum of $15.95 annually to your magazine and the resources it provides you to build and sustain your business.
Do you have $1.33 to invest in your own professional development each month? We believe you do, and rather than follow the shrinking (or disappearing) magazine trend that's sweeping the trade publishing world these days--or join such hallowed news media as The New York Times and put everything, including the front cover, up for sale--our plan is to rededicate our efforts to the readers who value EventDV most and position ourselves to offer more.
One way is by staying in print and continuing to deliver the tangible magazine-reading experience that our readers have come to expect. Another way we're offering more is via tie-ins to the cutting-edge video content we're now delivering on EventDV-TV--pieces that work in tandem with the articles we offer in print and that help a video magazine to do what a video magazine should. These connections will only increase over time as we develop more ways to add a video dimension to the print articles on which we've built our reputation.
Joining these print-video hybrid articles are monthly video series by some of the most exciting videographers in the business. These shows, all exclusive to EventDV-TV, extend the message and the value of the print magazine that we will continue to deliver to you as the recession runs its course. Visit EventDV-TV.com for details.
With a healthy paid circulation, our new and ongoing efforts will thrive and flourish and will continue to reflect the innovation, creativity, and persistence that drive this industry. One good thing about working in an industry with so much room for growth is that continuing public awareness of event videography and what event videographers do gives us all reason to be optimistic, downward market trends be damned.
Just to be clear, this change will not affect all readers immediately. Your subscription will continue through the April issue, to give you a month to consider what we're offering and whether it's worth a small (and, in most cases, tax-deductible) investment to keep having EventDV delivered to your door throughout the year, and to keep it at the ready as a resource dedicated to your business and your growth in this field.
Commit to your business and your ongoing professional development as we have committed to this industry, and we'll weather this recession together. When the economy bounces back, you will be the ones still standing, and so will we.
Stephen Nathans-Kelly (stephen.nathans at infotoday.com) is editor-in-chief of EventDV.