Essay Sample on People Magazine: America's Most Popular Magazine

Introduction

'The people' magazine is a weekly American magazine of human interest events and celebrity news, issued by Meredith Corporation. The magazine with a readership of over 46.6 million American citizens is considered to have the largest audience compared to all the other magazines in the USA. 'The People' had 997 million dollars in advertising revenue in 2011, the uppermost advertising returns of any American journal. In 2006, it had a spread of 3.75 million and the revenue projected to exceed 1.5billion dollars. In October 2005, 'The people' was recognized as the magazine of the year by Advertising Age, for distinction in advertising, editorial, and circulation. In October 2006, 'The people' was ranked number 3 on Adweek's Brand Blazers while being ranked number 6 on the Advertising Age yearly. Meredith Corporation is a famous American conglomerate of the media based in Des Moines, Iowa. The corporation owns radio stations, television, magazines, websites, and stations. Meredith's periodicals have a readership of over 120 million people, a funded distribution that exceeds 40 million, and its web pages have more than 135 million monthly new visitors. Meredith's transmission television channels and media reach 11% of the U.S. families (Porras Macias 241).

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'The People' magazine has a business model created around the booth and also waiting rooms and shop checkout sales. What do these markets have similar? A big number of individuals basically leaf over the magazine - and it is incidental whether they choose to purchase it or not. The editors probably do not really mind if you purchase the magazine, but definitely, that is not where the majority of their proceeds originate from. 'The people' make use of a business model that aligns more with what is anticipated from a subscription publication. It delivers in-depth profiles of renowned individuals. The subscription fee for 'The People' monthly magazine is fair and ranges in about 14.95 dollars. It is also important to note that the periodical is tangled to the common television series it is called after. The business model is further designed to attract, entice and retain readers to be their permanent subscribers than to have them swipe through the magazine. The publications need too much effort and time to read it fully in order to facilitate the model of 'The People magazine' ("Meredith Corporation"). That also explains the reason why it does not function as well for the waiting rooms. It was clear that by and large, people do not want to bind themselves to read a long article that they are not likely to find a chance to complete.

Among the biggest challenge facing 'The people magazine' is the strategy to continue surviving and dominate over the coming years. They would probably need finance reserves to not only publish and circulate the first issue but probably a couple of years before they anticipate to save enough to pay for the expenses, much minus a profit. Therefore, they would need to have a properly-researched business plan and model. 'The people magazine' probably needs this to show investors and banks and to ensure their resources are used in a prudent manner. Another trouble comes in reaching new frontiers and launching a new mass-market publication, one needs to entice the national advertisers who pay highly or be able to access and secure very large loans. The only way to do that is to establish a considerable circulation in the market or a very convincing and powerful plan (Benard). As much as people save some expense by having less reliance on subscriptions, alongside their associated marketing costs and postage, it must deal with transportation, enormous expenditures for returns, selling advertising and paper waste and recycling. The costs incurred at startup would run into tens of millions of dollars or even hundreds of millions. 'The people' magazine has for the last previous 30 odd years in its existence had only one competitor called Us and makes use of a similar business model to 'The People' ("Meredith Corporation").To take People and use a changed model, for example, pursuing the home market or removing the subscription fees, would highlight the magazine's deficiencies. Additionally, 'The People' may be interesting to read in the doctor's office, but does not really offer new content that is not available on television. Since it lacks special items like do it yourself tasks or in-depth reporting that improve substantial worth to many subscription publications, It would not be possible to preserve its subscription base (Benard). Television guides provide a similar type of story, but at least providing subscribers with television listings as well.

Among the strategies used by 'The people' is the elimination of competition. In February 2017, there were reports that a group of investors and Meredith headed by Mr. Edgar Bronfman Jr. was evaluating another likely acquisition of Time Inc. Later the same year on November 26, 2017, it was declared that Meredith Corporation was acquiring Time Inc. with a 2.8 billion dollar pact. 640 million dollars in support was delivered by Koch Equity Development, but the family of Koch would not be included onboard seating or in any way influence the operations of the company ("People Magazine").

'The people' also apply different new styles to be outstanding and outdo the challenges of competition they face. 'The People' is probably best known for its annual distinct issue naming the "Best & Worst Dressed", "Sexiest Man Alive" and the "World's Most Beautiful". The headquarters of the magazine is in New York but it sustains journalistic bureaus in London and Los Angeles. For economic reasons and to reduce expenses, it closed other offices in Chicago, Miami and Austin in 2006 (Benard).

Works Cited

Benard, Steven. "Magazine Industry Trends And Challenges." Printinthemix.com. N.p., 2019. Web. 17 Oct. 2019.

"Meredith Corporation." En.wikipedia.org. N.p., 2019. Web. 16 Oct. 2019.

"People Magazine." People Magazine. N.p., 2019. Web. 16 Oct. 2019.

Porras Macias, Agustin. "J. Mayone Stycos. (Comp.), The People Magazine, Nueva York, N.Y., Meredith Corporation, 1973. 207 P." Estudios Demograficos y Urbanos 7.02 (1973): 241. Web.