Is Monocle the Future of Publishing – and Content Marketing?

As many of you will know by now, I’m an unrepentant magazine junkie. Monocle is one of my personal favourites due to the quality of its journalism, design-ethic and truly global breadth.

But as someone at the crossroads between media and business (and business as media for that matter), Monocle’s real appeal is in its business model and innovative approach to working with advertisers and sponsors.

A recent article on the PSFK blog, discusses how:

“Monocle is leading the trend where titles help brands by creating content readers really want to consume (rather than the stuff many ad agencies hope will catch our eye)”

I think this describes Monocle’s approach rather nicely. A quick scan of any recent edition shows drinks companies sponsoring cocktail guides and printed travel handbooks (available at key airports), tourism offices collaborating on city profiles and luxury brands sponsoring compelling weekly podcasts.

The collaborative ethos continues online too. At the time of writing 8 of the 9 features fronting the Monocle website are sponsored; and include everything from music events, to downloadable city guides to video reports from the Venice Biennale.

Perhaps the most obvious commercial innovation is Monocle’s extensive range of branded merchandise, created in conjunction with high-end designers and boutique brands. The range covers everything from clothing to scents (produced by Comme de Garcons) and notebooks to luggage. Each piece is both revenue stream and brand extension – and is available via the print magazine, Monocle website and retail shops in London, LA and Mallorca respectively.

Lessons for Media – and Content Marketers

By combining top quality content with an innovative approach to the business of magazine publishing, Monocle is successfully navigating the rapidly expanding graveyard of print titles.

Here are a few quick lessons we’ve pulled out from Monocle’s success, worth noting:

1. Monocle Successfully Blends Print and Online:  The Monocle website is not a simple digital recreation of the print title. They make use of compelling multimedia content in the form of video features and podcasts to make the site a destination in itself. Moreover these elements act as natural extensions of the print content – driving readers from one to the other.
2. Monocle Blends Content with Advertising: Interesting sponsorship models are in evidence throughout both the print and online versions of Monocle. Although it would be easy for the commercial elements to overshadow the content, Monocle is able to comfortably blend these sponsorship and advertising deals into the publication. As a result the magazine avoids the perceived advertising overkill that affects so many monthly ’style’ magazines.
   
   Indeed the sponsored content, both online and off, is a perfect example of how content can be effectively blended with a commercial purpose. The features are relevant, add real value and are of the highest calibre. The sponsors are well-matched to the topic and branding is low-key enough so as not to shout ‘advertorial’. As PSFK noted, it’s ‘content readers really want to consume’ – the key to successful content marketing.
3. They’ve Moved Beyond a Simple Ad-Led Revenue Model: Industry-wide ad revenues are falling and online advertising revenues simply don’t  match-up to their print equivalents. Pioneering new ways of working with advertisers and sponsors is one important factor in overcoming this hurdle – as is developing new revenue streams. Savvy product partnerships deliver new revenue streams for Monocle with presumably marginal development costs.
4. Monocle Has a Unique Voice: Of course, without a great magazine and a great brand, none of this would be possible. Monocle clearly understand this and invest accordingly:
   
   “Headquartered in London with bureaux in Tokyo, Sydney, Zürich and New York, Monocle appears 10 times a year in print and is updated constantly at monocle.com. Developed for an international audience hungry for information across a variety of sectors, Monocle’s team of award-winning editors and correspondents have been drawn from The New York Times, The Independent on Sunday, the BBC, CBC and a host of other news and current affairs outlets.”
   
   It is this brand identity that Monocle so successfully leverages with both brands and consumers; something content marketers need to bear in mind as well.

So is Monocle the future of publishing?

I’d certainly argue that many of the elements on show – namely, the blending of online and offline content, the collaborative approach with advertisers and sponsors and the use of brand extensions as revenue sources – are.

And for content marketers, Monocle is a great example of how content and commercial interests can be combined to great effect.

Either way, it’s a title that looks like keeping its place in my ‘must read’ list for some time to come.

Tagged as: advertorial, editorial, magazine, monocle, online magazine