For Sale or in Flux, a Big Year Looms for Business Magazines
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With Forbes for sale, Fortune’s website divorcing from CNNMoney.com and Bloomberg Businessweek getting assessed as part of a companywide strategic review at Bloomberg, the year ahead could see a dramatic shift for top business magazines.
The category offers a glimpse into the publishing world at large, where 2014 will see traditional media companies continue to do battle with digital upstarts and new players emerge. Already this year, the former editors of AllThingsD introduced their new website Re/code with backing from NBC Universal, adding another prominent combatant to the field.
The good news for business magazines, according to media buyers and marketers, is that they offer a strong editorial product at a time when advertisers are eager to appear in, around or near high-quality content. The magazines themselves also point to their broadening portfolio of conferences, foreign licensees and other new revenue streams. Forbes, for example, is building a Forbes-branded office tower in the Philippines and putting its name on the business school at Ashford University in Iowa. Fortune events such as The Most Powerful Women Summit and the Global Forum are generating growing profits in their own right.
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