The fall of fashion magazine and how to rise from it

Fashion magazine was the epitome of glitz and glamour on its heyday. Working in magazine is a dream to many. Today, websites take the throne while magazine falls from grace. Social media has shut down the barrier between designers, celebrities and the outside world.

Fashion show is now live streamed via Instagram live, designers are updating their lives on social media, and Twitter feud is the source of journalism. The rising number of niche media catered to specific audience like Lost, Brownie Shanghai, and The Gentlewoman poses more competition to conventional fashion magazine.

The impact of digital also affected Indonesian publishing companies. MRA Indonesia, which holds license of countless prestigious global magazines, such as Cosmopolitan, Harper’s Bazaar, Cosmo Girl, Herworld, Esquire, and FHM, is struggling to hold its grip against digital takeover. Magazine sales have sharply declined in the country. TFR source confirms that ad sales in Elle Indonesia have been declining since 2015.

In 2017, several journalists from Femina Group stated that the publishing company hasn’t paid their salaries in full amount since early 2016. The payment was turned into instalments. The journalists then urged Ministry of Manpower to look into the case.

Conventional fashion magazine hasn’t changed the way it does business since 1920s. Magazine’s glossy paper hasn’t lost its impact, but the way it is launched has got to change. Releasing one edition a month does a huge damage in printing cost, paper and shelves life. Magazine content like beauty and fashion trend doesn’t stay relevant after months. The pile-up of magazines will eventually be trash. Launching fewer times a year helps maintain the exclusivity of a publication as opposed to monthly release. It also lowers printing and distribution costs.

While printed publications transition to digital, some see prints as extension to their recurring businesses. Imran Amed from Business of Fashion launched bi-annual print edition to BoF’s subscribers. Net-a-Porter in 2014 launched its bi-monthly print magazine, Porter. Following her departure from Vogue Paris, Carine Roitfeld launched her bi-annual magazine, CR Fashion Book, in 2012. Prints will stay in the business although it might not be the centre anymore. Offering prints in addition to digital content is a smart move from BoF and NAP.

According to people who are still actively purchasing magazines, magazines are collectibles they treasure. The printed editorial is what makes it special. It also serves as inspiration and it makes a beautiful coffee table book. One of the most in-demand indie magazines in the country is Kinfolk.

Vogue is thriving because of its visually captivating editorial and the majority of women who can afford luxury grew up with prints, whereas magazines that geared towards younger generations see their subscriptions falling because their audience can easily access the Internet with their mobiles. They don’t need to purchase magazines every month to read content that might not be relevant in the next few months. Brands featured on those magazines usually have their own digital marketing strategy and the clothes have lower prices than the ones featured on Porter or Vogue, which makes them accessible to everyone. As a result, magazine exposure is not as big of a deal as it used to be.

Innovation is another aspect that magazines have to consider in order to compete with digital. Porter magazine, while looks just like any other magazine, implements the scan and shop technology in its glossy pages. Former NAP Executive Chairman Natalie Massenet said that her decision to launch Porter was because NAP customers still regularly read print magazine. Having content and commerce in place drives revenue growth due to its convenience.

The magazine business will not be 100% gone, but the business model will completely change. Judging from current events, printing out high-end fashion magazine makes more sense than releasing middle-tier magazine. In the long run, magazine should focus on being collectibles, gear up its video content, and innovate the current system.