Magazines and Newspapers Eye Digital Downloads for E-Readers, Smart Phones

December 8, 2009

(ChattahBox)—Some of the largest magazine publishers and media firms have come together to form a one-stop online marketplace, to distribute paid content digitally for convenient downloads to electronic devices. The publishers plan to develop common standards to make the content available across multiple platforms. In the wake of declining revenue for print newspapers and magazines, as the 21st century technology of the Internet seemed to have passed them by, traditional media needs to evolve, or be left behind forever.

The publishers, Conde Nast, Hearst, Meridith, News Corp. and Time Inc. announced the ambitious joint venture on Tuesday and described the new digital newsstand, as “iTunes for magazines.” The new media marketplace would also offer much-needed advertising revenue for the participants. And the site would be open to other publishers, as well.

The group released a joint statement describing their new venture:

“Publishers will derive revenue from content and advertising sales, as well as from print subscriptions,” said the group.

“In addition to entirely new magazine and newspaper reading experiences, content selections may ultimately include books, comic books, blogs and other media,” the publishers added.

Time executive John Squires has been tapped, as the managing director of the new marketplace. He said that the content would become “unlocked” after it’s purchased and should work on a number of devices on various platforms.

The powerhouse publishers seem to be really targeting tablet computers and smart phones. Current e-readers aren’t equipped to handle the enhanced digital technology, but that certainly could change. The big question, is whether users would pay for the content.

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2 Responses to “Magazines and Newspapers Eye Digital Downloads for E-Readers, Smart Phones”

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