Time Magazine Experiences Usa 2007

Time Inc. The Magazine Experience Study

June, 2007

Magazine Experience Study

today’s media landscape is complex and dynamic:

• media usage has never been higher– more choice/new outlets– more control/new markets

• but at the same time:– less loyalty– more pluralism– new metrics– new alliances

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Magazine Experience Study

never before has it been more critical to:– focus on the consumer

– engage with them in the right context

– think and plan holistically

– partner with our clients

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Magazine Experience Study

goals of the Study:– re-establish the continuing, but evolving,

importance of magazines in people’s lives.– inform and guide our Company and our clients– understand the unique elements of the

magazine experience– to unearth new insights that will change people’s

minds

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THE APPROACHQUALITATIVE•2 week deprivation (with “Mad Libs”)

•in-home ethnographies

•objective: to obtain a deep understanding of the role of media in consumers’ lives

CONFLICT GROUPS •objective: to understand the changing dynamics of media consumption

QUANTITATIVE•online survey to validate our hypotheses

– sample: 3,117 adults ages 18-54; weighted to ensure national representation by age, gender, income, education, and ethnicity

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WHAT EMERGED RELATED TO:

•the role of magazines within the media landscape

•the unique and integral part advertising plays in magazines

•the emotional and rational needs met by magazines

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in today’s media landscape, “everybody is doing everything,” but consumers are able to identify and articulate the unique strengths and “reasons-to-use” for print and digital platforms

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EVERYONE IS DOING EVERYTHING…

•life would be easier if there were still media loyalists:

– “tv viewers,” “radio listeners” or “magazine readers”

•not in this world of exploding options with smart multi-tasking consumers who change their behavior based on relevance

•we saw a detailed portrait of their “media ecosystems”

•we are all multimedia pluralists…everyone is doing everything

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…AND OFTEN, AT THE SAME TIME

given all this “everything,” multi-tasking is the norm rather than the exception

for example:

1/3 of consumers surf the internet while watching TV

1/3 of consumers watch TV while surfing the internet

source: otx quantitative survey

1/4 of consumers use a cell phone while watching TV or using the internet

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consumers say they are alone when reading their magazines3 in 4

of consumers do nothing else while reading their magazines, versus 1/3 for TV and the internet

1/2almost

HOWEVER, “NOT ALL EXPERIENCES ARE CREATED EQUAL”

within that complexity, readers are likely to be singularly focused on their magazines

of consumers read their magazines in bed, in their favorite chair or in their den…a “ritualized” setting

2/3

source: otx quantitative survey

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ON THE SURFACE, the benefits of print and digital appear to be largely similar

1. informs me

2. keeps me up to date

3. helps me relax

4. it’s time well spent

5. gives me time for myself

6. takes my mind off things

7. I want to share the information

8. I talk to others about what I read

9. makes me think

10. provides me with a broad perspective

1. informs me

2. keeps me up to date

3. takes my mind off things

4. gives me time for myself

5. makes me think

6. teaches me to do new things

7. I talk to others about what I see

8. provides me with a broad perspective

9. allows me to learn interactively

10. I want to share the information

print’s top 10 benefits digital’s top 10 benefits

source: otx quantitative survey

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HOWEVER, their unique strengths drive different experiences

trusted source many sources

PRINT INTERNEThighly anticipated gift to myself instant gratification

multi-sensory (visuals, tactile, scent) multi-sensory (audio, video)

perfectly portable environmentally responsible

convenient while I’m at work all daymuch-needed time away from the PC

relevant personal content (me before we) communal content (we before me)

a valued experience worth paying for free

slow, lean back relaxing fast, lean forward interactive

source: sterling qualitative

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about magazines about internet

MAGAZINES, however, still “own” the emotional connection with consumers

heavy magazine readers and heavy internet users both acknowledge emotional bonds to magazines, which are stronger than their bonds to the web

it’s time well spent 65% 16% 51%70%

Heavy magazine readers

Heavy internet users

Heavy Internet users

Heavy magazine readers

happy

helps me relax

excited

it’s like a gift to myself

it’s like meeting an old friend

makes me feel uplifted

66% 45% 46%70%

67% 49% 55%71%

63% 39% 40%58%

56% 35% 35%64%

46% 34% 40%54%

45% 27% 35%50%

source: otx quantitative survey, top (2) box agreement to selected statements about how consumers feel when they sit down to spend time with magazines/the internet

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the advertising in magazines is an integral part of the overall magazine experience, with consumers more likely to take action than with other media

slide 15source: in-home ethnographies

MAGAZINE ADS a valued part of the magazine experience

•magazine ads are added value for readers who told us that relative to other media:

– magazine ads are relevant

– magazine ads are less intrusive

– magazine ads are visually captivating

– magazine ads “fit” more seamlessly with the content

– magazine ads are trusted

– magazine ads are a way of keeping up with trends and learning about new products

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when finished reading a favorite magazine, 76% of consumers act on the content or advertising

talked to someone about the magazine

recommended a product/service I saw in the magazine to friends/family

passed along an article to others

when done I…

men’s lifestyle and interests58% news59% health and fitness

shelter28% business / finance28% fashion / beauty

shelter46% african-american44% celebrity/entertainment

noteworthy genres

bought or intend to buy a product or service advertised in the magazine

fashion/beauty33% health and fitness31% women’s lifestyle / service

55%

39%

25%

22%

60%

48%

36%

30%

source: otx quantitative survey

IN AN ERA OF ROI, ROO, AND ENGAGEMENT, magazines are the original viral medium…

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magazines meet a wide range of needs and occasions in a lifecycle that features multiple rich experiences

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THE MAGAZINE LIFECYCLE IS EXTENSIVE AND VARIED

“foot tapping anticipation”

“the pleasure of sharing

with others”

“the joy of discovery”

“relaxing quality time with a

trusted friend”

source: in-home ethnographies

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MAGAZINES PLAY A DIFFERENTIATED AND VITAL ROLE

they are a pleasure medium •the tactile nature of print is a key component of the experience

•the portability of magazines make them highly relevant in today’s mobile society, and “place read” is part of the ritual

•there is a true “ownership” of the experience– they own the experience: controlling when, where and how it is

consumed

– they feel they have a vested interest and an obligation to participate

•magazines have a high social currency value– they provide knowledge

– they serve as the basis of communities

– they are the litmus test of “being in the know”

source: in-home ethnographies

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DEPRIVATION LEFT A PAINFUL VOID

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”“ trying on a shirt you haven’t worn in a long time

putting on a warm pair of gloves

seeing a good friend and having lunch at Panera

picking up an addiction, a good one

having the first alcohol drink after a long, hard pregnancy

like eating a warm piece of Tennessee chess pie; it’s really sweet and it melts in your mouth

”“”“

”“”“”“

CONSUMERS COULDN’T WAIT FOR A SPECIAL REUNION

having my magazines back will be like…

source: in-home ethnographies

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6%

82%

12%

source: otx quantitative survey

will read more

will read the same amount

will read less

CONSUMERS EXPECT TO CONTINUE READING MAGAZINES

more than nine in ten readers expect to read magazines the same amount or more next year

this figure is consistent across all groups in the study

q: how do you expect your reading habits to change in the next year? a year from now, do you think you will read magazines more, less or the same amount?

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TO SUMMARIZE

• today’s consumers live in a fragmented, time- compressed, multi-media, multi-platform, and multi- tasking world

• yet within that complexity – perhaps even because of it – the magazine experience stands out, offering consumers unique and valued benefits

• these benefits – including relevance, emotional connection, relaxation, entertainment, and inspiration - create an environment in which advertising is not only welcomed and trusted, but is also considered an integral part of the total experience, and consumers are highly likely to act on the content and advertising they read

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What does it mean for all of us?

•the sky isn’t falling!

•media experiences aren’t interchangeable

•media usage is additive

•consumers are savvy in how they choose:– content

– occasion

– experience

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Magazine Experience Study

“Delivering experiences is the key to success.”

-J. Walker Smith, Yankelovich

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THANK YOU!