I read on the Bloomberg Businessweek website that a "Netflix" for magazines could be launched, delivered on iPad. The author, a journalist, Rich Jaroslovsky, describes thoroughly the nuts and bolts of the so-called "Netflix app for iPad", "Next issue".
Why did Netflix succeed? Because it is simple and convenient (mailbox at first, DVD by mail, subscription). But mostly because it proposes a very popular entertainment product with a huge supply: movies and series.
There is no other "cultural product" as popular, as cheap. The product is almost universal: every home owns a DVD player plugged into a TV set. Every home has a mailbox.
Streaming makes it even more convenient for well equipped and video smart homes (connected TV, etc.).
Let's compare succinctly the market for magazines with the Netflix video market.
- Most of what you can find in an online magazine you find in another one or in a pure player website, for free.
- All news has been already covered by the other media, online (websites, social media) or offline (radio, TV, press). There is no exclusivity, at all. Any scoop lasts about 5 minutes at most.
- With the help of a search engine, you can find and gather on your tablet or computer all the news that fits, screened by the languages you can read.
- What do we need a "netflix for magazines" for? What is the added value? Its USP?
- Netflix can count on family audiences, and movie and series addicts; do magazines have such a following?
What will save magazines? Wonderful quality and exclusive content.