Realtor Magazine Reduction
As reflected in the NAR Communications Committee minutes from the Mid-Year meeting in D.C. last month, Senior VP of Communications/Conventions at National Association of Realtors, Frank Sibley addressed the Committee about “the Leadership Team’s decision to reduce the publication frequency of REALTOR Magazine to six issues annually in 2010 as an economic decision resulting from the current economic situation.”
The financial side
It was recently released that based on 1,200,000 members at $6.00 per member each year, publications (Realtor Magazine) brings in roughly $7,200,000 annually.
As a media outlet, revenue also comes from other sources like advertising dollars from conference vendors and sponsors, advertisers of Realtor Magazine, Realtor Magazine Online, Realtor Magazine E-Newsletters, Realtor AE Magazine and sponsors of the Realtor Magazine Good Neighbor Awards, Realtor Magazine Young Professionals Network, and Realtor Benefits Program.
Advertising Dollars
According to sources, the 2008 media kit given to sponsors reflected that print advertisers are required to commit to conference sponsorships (meaning long term) as well, making advertising costs out of reach for many advertisers, especially in the era of marketing budgets being slashed globally. Budgets for print magazines are costly and along with other magazines across the nation, survival steps are being taken. Although we know NAR member contributions to the operations budget, we do not have access to financials for ad income, print or mailing budgets.
Green Movement
One of the National Association of Realtors’ focuses has been on environmentalism and working toward being more green and reducing print publication in half would certainly reach that goal, however, it was not cited anywhere as a reason for cutting print. Being green seems to simply be a positive side effect of the Leadership Team’s decision.
What do you think?
Would you miss Realtor Magazine? As addicts of information, most bloggers actually read the magazine, have commented around the blogosphere about the quality of content and even use it as a reference and would miss it if it were discontinued even if only by half.
If you were in charge, would you cut publication or alter advertising structures? Should NAR member dues given to Realtor Magazine be cut in half as the benefit of monthly publication has been cut in half? Is this a sign of things to come? What else is on the chopping block?
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Interesting but not surprising. I don’t think I’d miss the paper version. Some of the information is useful, for my taste most of the articles are so generic and PC that they don’t really move me. Blah. It’s be nice to see them take some stuff off line, add links and get some jazzed up copy.
These days with blogs and a feedreader, I enjoy my own custom made new school news papers. It’s how I read this post. No dead trees and I can read when and where I please.
oh great pay as much –they do less.
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Lani – I have mixed feelings on this one. I like the magazine, I’m still old school enough to like to hold things (I still buy C.D.s too) when enjoying them. I agree with Ken though, much of the magazine is bland and generic. Occasionally, there has even been a lack of information at all (Where’s that issue that was basically a giant print ad for Lowe’s? I left it around here somewhere.). I tend to like the question/answer features – looking at theory, ethics, etc. Where the present the idea and show you why it works the way it does. Although I’m very proud of the 30 under 30, I don’t need a whole issue about them. I need cold, hard facts and information, not fluff pieces.
I think the Texas Association puts out a great magazine that usually has more informative articles that teach me more than the NAR magazine.
Of course in the effort to be more “green” – I often wonder if we really are doing our planet any favors by converting the magazines and keeping us all plugged in 24 hours a day…consuming more and more electricity. And using buzz words like “green” just in an effort to cut costs is often one of the first things I chuckle at…just tell it to me straight, don’t repackage it and tell me it’s better for me. It’s a tired old marketing scheme that bugs me when I see it.
Kill it… totally useless to me. By the time its printed its out of date.
Interesting to note that most negative comments about the magazine are about its content, not its form. If it was packed with great stuff every issue, would its readers be so quick to dismiss it? No doubt the publishing model is changing quickly, but the ones w/real value to their readers will struggle a lot less than so many of the others.
Personally I don’t read the hard copy unless someone refers me to a specific article in it.
I read the online version or skim it.
I think I told them that while in Chicago.
I stopped reading it awhile back. I sub to the realtor mag online. The mailed magazine is more of a catalog anyway. Every other page was a advertisement for something I wouldn’t use.
This is the right move.