Digital Media: The Web Not That Important? Seriously?!?!?!

This story caught our eye and frankly made our jaw drop:

although magazine publishers have embraced mobile platforms, particularly the iPad, the web is still not all that important, executives at Conde Nast and Meredith Corp. indicated

As we read on, we figured that these publishers were talking about the scope of their online business today. Conde Nast’s tablet business, for example, has produced $20 million in revenue over the last two years, a pittance compared to the $1 billion plus in ad revenue the private company captures as a whole. Looking at users, Conde’s 12 digital editions have about 500,000 subscribers, compared with 1.5 million subscriptions overall.

Still, there can be no doubt that the future will be digital. That means all types of publishers – including magazines and newspapers – need to figure out the migration path into that digital-centric world. One promising area cited by Conde Nast is the use of online video. To us, that online video looks like an excellent way for publishers to change the game in terms of monetizing more content and attracting more eyeballs.

Jim Brady, Editor-in-Chief of Digital First Media recently described the huge advantage digital channels and online video in particular give newspapers:

“Today, newspapers can be radio stations and television stations and connect with our readers 24/7, instead of being only a slab of paper thrown in the driveway once a day,” he said:

You can see more of Brady’s comments from Infinitive Digital BrainFest here.