Get with it Gutenberg.
In order to print their glossy editions on paper, magazines need to sell ads. But nowadays, that can be problematic.
"Many advertisers want to be on mobile, they want to be on television," says Andrea Marder, vice president of global planning and buying at Media Associates, an ad agency focused on ad placement. "Very few advertisers are walking through the door, or ringing us on the phone, saying they want to be in print. Print is perceived as being very archaic."
But try telling the winners of the "Hottest Magazine Launches of the Year" awards that they're about to go extinct.
"We’ve been sort of like the Kenny on South Park for like the past quarter century. Every disruption — you know, 'they killed Kenny again,'" says Jim Impoco, Newsweek's editor-in-chief, as he accepted the magazine's award for best re-launch at the event breakfast in New York.
Magazines, it seems, are far from fossilized. They're still alive and kicking, and then some.
More than 800 new magazines launched over the past 12 months says Samir Husni, AKA, “Mr. Magazine," director of the Magazine Innovation Center at the University of Mississippi. But, he admits the number includes a lot of annuals and book-a-zines like "The Best of Fine Gardening: Tomatoes" or Hobby Farm's "Bacon."
“The days when you had TV guides selling 18 million copies every week, those days are gone," he says.
Magazines aren’t dead, they’re just different, explains Husni. New technology allows for smaller runs and more specialized titles like "Eye-lash," for lash specialists, estheticians and makeup artists; "Vapor Voice," for those in the vape industry; and "Skinny News," which is about ... being skinny.
"There is a magazine for everything you can imagine, you can dream about or you can even have nightmares about," he says. "The joke I tell my students: you name a part of the human body, and there’s at least one or two magazines devoted to it."
Sid Holt, chief executive of the American Society of Magazine Editors, says it is a challenging time for magazines. While magazine audiences are growing online and on other digital platforms, the loss of advertising dollars that were once a mainstay of print has been hard to make up.
"Those digital dimes haven’t replaced those print dollars yet," he says. But at the same time, he notes, magazines are adapting. In order for a magazine now to be successful it has to carry its shared passion between reader and publisher — be it guinea pigs or eyelashes — across platforms.
"We no longer think of a magazine as this print thing; this print artifact. Although, obviously the print artifact is central," he says.
Print does have prominence for certain advertisers, says Marder. For those trying to hawk luxury goods or beauty products to seniors — a group notoriously tricky to track down via new technology — magazines play a key role. After all, it's very hard to smell a sample fragrance strip through the screen of your iPhone.
"Print is an astonishing technology. And to begin with, it’s portable, it’s great to look at," says Holt. "It was a great technology when Gutenberg invented it and it’s a great technology today."
It's time for Silicon Tally! How well have you kept up with the week in tech news?
The University of Michigan issues its monthly Consumer Sentiment Index on Friday. Numbers from the survey have long been used as a leading economic indicator— data that economists mine for clues about what could happen next. This month’s number may contain clues about retail spending this holiday season.
Researchers started looking at consumer sentiment decades ago, partly to help predict how much people would buy.
"It’s based on a theory that consumers needed both the ability to purchase goods and a willingness to purchase goods," says Robert Leone, a marketing professor at Texas Christian University. "They needed both of those."
Leone says sales numbers bear out the theory, and businesses depend on this data to make decisions: If the numbers say consumers will be skittish, retailers offer more discounts.
This year, the other factor — consumers' ability to buy — looks good, says Chris Christopher, director of consumer economics at IHS Global Insight. "Even though their wage gains haven’t been that great, their expenses — the overall price level for things — is much lower," he says. Lower gasoline prices put even more extra money in consumer wallets. "That’s helping them spend a little extra."
Here’s a bright idea: in the middle of a recession, call an election.
That’s exactly what the prime minister of Japan has done. The voting is set for Sunday, and he actually could be headed for a landslide. Polls suggest Prime Minister Shinzo Abe’s ruling party could win a two-thirds majority. In this case, it’s not “the economy, stupid.” It’s the enfeebled opposition, analysts say.
Despite the GDP contraction, Japan’s economy may not be that bad. Adam Posen, President of the Peterson Institute for International Economics, sees parts of the “Abe-nomics” shock therapy working: monetary easing and reforms to bring more women into the workforce. There’s more to do, Posen says, but a victory could give Abe a mandate to pursue additional, significant changes: cutting business taxes, shrinking the deficit, and striking a trade deal with Washington.
The Democratic Republic of Congo needs investment to rebuild from decades of war. But the cruel irony is that it’s the last place many foreign investors want to park their money.
Transparency international ranks DRC 156 out of 175 rated countries in terms of corruption. The World Bank says that while it’s among the world’s top ten most improved places to do business, it’s still one of the world’s hardest places to do business. And yet people do, and do so successfully.
Konrad Brits is trying to be one of them. He is CEO of Falcon Coffee, a UK based green coffee supplier to brands all over the world.
He stands before the coffee processing mill that he helped finance in Goma, the capital of DRC’s North Kivu province. The mill processes coffee beans provided by cooperatives and farmers from around the region. He hopes it will offer a desperately needed source of revenue for people.
“It’s an incredibly risky investment, or a lot of people would view it as that,” he says.
After what Brits has been through, it is a miracle he is here.
This isn’t his first ride on the Congo Coffee train. 10 years ago, he tried exporting coffee from the other side of the country. He set up a network of middlemen to buy coffee from villages, and then processed it in a factory like this one. He imported everything from screws and screw drivers, to cars and machinery and equipment.
“And once we started the process, the shackles began to tighten,” he recalls.
Taxes got pushed mysteriously higher, and higher, he says. And then there were random fees, like for the government to certify the weight of his coffee (even though officials had no scale).
“When we went to the government, they said, 'We don’t have a scale, but you need this paper to export the coffee. So even though we don’t have a scale, this piece of paper’s gonna cost you $750 every time.'”
Konrad’s staff was stealing two tons out of every 18 ton container “in conjunction with the port authorities,” he says. “I was paying the tax and buying the 18 tons of coffee and buying the weight note; shipping thousands of tons. And when they started arriving, my buyers would tell me, 'You over invoiced me. There’s only 16 tons.'"
The staff were then reselling the stolen coffee back to Konrad.
“The degree of institutional corruption made me realize that I needed to cut my losses and leave,” he says. He lost $1.3 million.
At the time, he was furious that so many people and authorities around him had colluded to cheat him at the expense of their own communities.
“I’m going to leave here,” he recalls telling a group of officials and employees. “I’m bleeding, but I’m gonna survive, I’m gonna take my business somewhere else. And you’re gonna sit here with no future.”
Since that time, Konrad has come to think about his experience in a different way.
“Time and again, the Congolese have seen so many foreigners come and go, and by and large every one of those foreigners have been there to take not to give,” he says. “Starting with slavery and everything else: the mineral wealth, the rubber, the hardwood. Investing in the DRC with my very developed-world, bleeding-heart attitude, believing I could deliver this promise of tomorrow to people who had been nothing but let down."
He adds, "The governor‘s son told me, ‘We are such a traumatized society that if you offer a Congolese one dollar today or ten at the end of the week, he can’t bank on the ten at the end of the week, so he’ll take the dollar today. And you look like the dollar today.’”
So why is he back?
Because of people like Kyriakides Menelas.
Menelas runs the coffee mill. He was here when rebels swept through town just two years ago, leaving bullet holes in the gate of the mill’s compound. Menelas has been here thirty years, through wars and invasions and corruption. Brits says he trusts Menelas and his family.
“They have built up a huge coffee export operation out of Uganda for 15 years and we’ve been partnering with them there for the last 5,” he says.
The only way to survive here, says Menelas, is to know people who know how to survive here, and find partners who have a stake in your success. Konrad’s early experiment had him depending on people who would gain from his failure. Also, it doesn’t hurt to have an edge.
“In business, if you show up somewhere and don’t know anyone and nothing, you’re a sheep among lions. They’re obviously going to devour you. So you have to become a little bit lion,” says Menelas.
And as a businessman, Menelas takes the long view.
“Our parents, they lost their things two or three times. Us too. You get used to it. The positive thing about Congo is you can lose for two or three years and then gain it all back and more,” he says.
Britsa takes the long view too. He says his partners, who’ve invested more than he has, make him feel protected. This time, he says, will be different.
“Well possibly,” he adds with a laugh. “Maybe I’ll be a fool twice. We are yet to see.”
Maria Isabel de la Paz is an American citizen who grew up in Mexico, but her birth certificate was dismissed at border checkpoints. The ACLU says too few of these cases see the inside of a courtroom.
The design museum is housed in a historic building, but it has been remade into one of the country's most technologically advanced museums. Officials hope it attracts younger visitors — and donors.
As NPR Kabul correspondent Sean Carberry wraps up his assignment, he assesses the change in his neighborhood, which has gone from dirt streets to upscale shopping centers.
President Obama has said he'll work to improve race relations between police and communitie, but in his hometown, many see a leader unable to sustain the progress predicted during his 2008 campaign.
In recent cases, teenage Americans were caught en route to Syria. They seem to be more naive than actual threats. U.S. law enforcement is trying to decide how to deal with them.
Samuel Gbazeki is one of the many Liberians who stop by the Daily Talk blackboard to check out the news. The English professor has a lot to say about the latest headlines.
The New York Times says it's the most widely read news source in Liberia's capital. It consists of a blackboard, upon which a journalist writes regular updates about everything from politics to Ebola.
After a Korean Air executive was enraged by a steward's presentation of macadamia nuts in her first-class cabin, a large South Korean market reports an unlikely side effect.
There's a lot of oil moving through the economy. It's literally moving, from point A to point B in trains, trucks and barges.
In light of the recent drop in oil prices, we checked in with Austin Golding, who runs Golding Barge Line, a family business in Vicksburg, Mississippi. Business has picked up since the last time we talked to Golding, and he's surprisingly excited about a new tax increase.
Geneticists have revised the evolutionary tree of birds, revealing some unlikely relationships.
The act of kindness in Tarrant, Ala., was caught on video. The story garnered so much attention that donations of money, food and clothes poured in from around the world.
Kale's days as the superfood-du-jour may be numbered. Next up: Kalettes? It's a cross between kale and Brussels sprouts, and it's one of a few bewitching hybrid vegetables that could go big in 2015.
Farshad Arshid runs a clothing business with his wife Sandy.
Arshid started out on his own, with one part-time employee a little over a decade ago. Now, he owns three stores, two in Atlanta, and one in Houston. He has a staff of around 15 employees. It all started with a store called Standard.
The surging and virulent strain is carried by macaques in southeast Asia. As their habitat is disrupted by development, the monkeys come in closer contact with people. And mosquitoes do the rest.
Americans eat more seafood than just about anyone, but a big portion of imports are caught illegally. One expert calls this "the single greatest threat to sustainable fisheries in the world today."