Three Strategies Traditional Media Use to Stay Relevant

While some claim that traditional media is losing relevance, long-standing brands like Time, Essence, and Eater are proving there's still ample room for innovation to remain strong in this ever-changing media landscape.

This week in New York, at the 'Mediaweek' event, representatives from these three brands shared how they've managed to grow, adapt, and connect with new audiences. Their strategies range from reinventing the print format to new ventures in events and applications.

Rediscovering the Value of Print

It's true that the audience for print media isn't what it used to be, and many publications have reduced or even ceased their print editions. However, the print format remains a powerful tool of influence when used strategically.

In Time's case, the magazine has realized that despite the decline in print revenue, many of the world's most influential people still desire to appear on its covers. Sadé Muhammad, the publication's Chief Marketing and Impact Officer, explains that the company has made this part of the business more efficient and profitable, emphasizing that the medium remains important for readers and advertisers. "Print remains a great option for those seeking that special moment on a cover," Muhammad explains. "Advertisers also highly value this type of exposure.

Expanding the Brand Beyond Media

With the media landscape constantly evolving, many of these brands have sought to diversify their revenue streams. Events, applications, and physical products have become new ways to connect with the public and expand their reach.

For example, Essence organizes the Essence Festival each year and recently acquired Refinery29 to reach "all women," according to Nandi Howard, the brand's Vice President of Content. Eater, on the other hand, recently launched its first mobile app and plans to host a holiday market at the end of the year, where attendees can receive discounts using the app.

Stephanie Wu, Editor-in-Chief of Eater, explains that with each new brand extension, they ensure that the editorial essence defining Eater remains intact. "We make sure it's not just about putting the logo on something, but that each project reflects our spirit. That dedication helps build genuine trust with our readers," Wu comments.

A More Specialized Approach

As the media market becomes more competitive, many publications are opting for a more specialized approach, offering specific and relevant content for particular audiences. This not only helps them differentiate themselves but also strengthens their subscriber base.

Time, for instance, has evolved to focus on more specialized topics, as demonstrated by its Time 100 lists, which celebrate influential people in areas like artificial intelligence, climate change, and health. They have also launched an event called The Closers, aimed at African American leaders working to reduce the racial wealth gap.

These strategies show that even as long-standing brands, they can still innovate and create significant impact on their audiences. As Muhammad says, "Legacy matters, but only if there's a willingness to innovate, to say 'we're willing to do it in a completely new way.' Heritage opens doors, but innovation is what keeps us relevant."

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Fuente AdWeek. Adaptado al español.