Rogers Media is shutting down the print editions of Flare, Sportsnet, MoneySense and Canadian Business, and will only be available online as of 2017. They are also scaling back on Maclean’s magazine and only publishing it once a month, while Chatelaine and Today’s Parent will appear in print six times a year.
The shift in Rogers Media content strategy suggests the reliance building their digital business, in a time where many leading print publications are playing catchup, in an industry where the advertising revenue is dwindling.
Rick Brace, President of Rogers Media, recently released a statement outlining the main driver of this shift.
“We are going where our audiences are, and doubling-down on digital to grow our consumer magazine brands,” said Rick Brace, President, Rogers Media. “We have already made significant investments in creating content and making it available on digital platforms, including Texture, Sportsnet NOW, and Rogers NHL GameCenter LIVE, and today’s announcement builds on that.”
The company has committed $35 million to this strategic move, after experiencing a significant online uptick.
Given the increasing shift to digital consumers, it will be equally important to see how magazine publishers will be able to adopt a multi-platform strategy and help retain their existing readers move towards this direction.