Papers, Magazines in Europe Make Money

While visiting friends in Munich recently, I was struck by a couple of modern-day contrasts with American cities – I saw very few people in Munich walking down the streets with eyes glued to their Blackberrys or iPhones.

It’s the opposite in most U.S. cities where we would be lost informationally and emotionally without looking at our PDAs or cell phones as we walk … or drive.

I saw people buying and reading newspapers and magazines. Holding paper in hands and reading what’s on it is still an important social experience, not only in Germany but across Europe. Some might think it quaint, I believe it’s neat.

You see it everywhere – people sitting at coffee shops, reading all kinds of publications – actual newspapers and magazines – and not squinting to read tiny screens!

Mainstream media is alive and kicking, unlike its cousins in America where newspapers are dropping like cash-strapped flies.

I asked our friends, both attorneys, if they were aware of any problems in the newspaper or magazine industry in Europe. Any papers shutting presses like here in the U.S? Nope. My question even surprised them.

Mainstream print news media in Europe seems to have read the warning signs better than their counterparts in America. They’ve figured out how to connect and build relationships and loyalty among readers. I know, it sounds like such a cool online social media concept but I believe they beat us to it, in print and online. Newspapers and magazines in Europe are using their audience reach and influence to capitalize on clever, moneymaking promotions.

I found an interesting story in Gawker.com that sheds light on how newspapers and magazines in Europe are prospering … by treating news as a loss-leader.

Category: Featured, News Media