By Paul Pannone
After announcing Meredith Corp. will be taking over the business operation of Martha Stewart Living through a 10-year licensing agreement, competitors of Martha Stewart quietly agree the move is the right business move, given the growing struggle to attract advertising support for print pages. Stewart’s deal will relinquish non-editorial functions of the brand including ad sales, marketing, circulation, distribution and production leaving full attention and focus on content creation– the area where most agree Stewart excels.
Once again Martha Stewart finds her own fresh, new way of approach boring but necessary tasks.
The move strikes a nerve with competitors and sources close to the print business who admit they’re struggling to draw ad pages in this digital age. Less magazine sources are willing to argue the struggles they face, as the news of the digital takeover spreads and becomes generally accepted. Many are learning howto integrate digital resources into their advertising packages, hoping to entice lost advertisers back the value provided by their digital reach.
So far, none are willing to go on record or give details that would tip off other competitors until they’ve had time to think about how they’ll approach Stewart’s move in their own business. Moreover, some say they will be tracking the success of the move “for some time” before taking any steps in their own business.
We too will be watching the success and report the findings.
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