News

Momentum Media closes My Business magazine, shifts focus to digital

Momentum Media will cease producing a print magazine for its My Business brand after the media company realised there was ‘no upside’ to the physical product, Mumbrella can reveal.

Momentum acquired the decades-old brand in January 2016 from SME Media, including the print magazine, website, email newsletters and awards.

SME Media’s media kit from 2015 claimed the monthly print magazine had a readership of over 100,000, however Momentum’s director Alex Whitlock said since acquiring the title, its digital growth and engagement had been staggering, and the print product was no longer commercially viable.

“We like print. We’ve got very talented print teams, but from a business perspective, it’s just flat-lined,” he said. “There is no upside on the print magazine.”

He noted the magazine didn’t give the editorial team, or the media brand’s advertisers, any additional reach that mybusiness.com.au couldn’t offer on its own.

“So we’ve decided to focus on what we do best. We’ve decided to commit to digital and to focus on building an already rapidly growing digital platform, but particularly the podcast. We’re very very accomplished at growing audience via podcasts. My Business is already showing extremely promising growth digitally,” he said.

My Business’ new structure will be spearheaded by Andy Scott, who has been with the company since 2011 holding various publishing, sales and research roles. Scott will take on the head of partnerships position, supported by new editor Adam Zuchetti who has been promoted from deputy editor.

“Andy is not only a veteran in media but he is particularly talented and capable in not just digital media, but the transition from a print/digital product to just a digital platform,” Whitlock said.

Momentum says My Business website delivers same reach as axed print product

“Andy is absolutely sublime at navigating that transition. It’s a big business decision to fold a print magazine.”

Whitlock also praised the product’s new editor Zuchetti and said he, along with Scott, would be a safe pair of hands for the transition.

“We’re here to make money, so having our energies and our time focussed [on activities that help us achieve that] with somebody of Andy’s calibre on the digital platform – we’re looking forward to seeing significant growth and revenue on that title,” he said.

The magazine, which Momentum had already scaled back from monthly to quarterly, will cease production immediately.

Despite the decision, which follows on from Momentum scaling back other print products in favour of digital platforms including podcasts, Whitlock said the media company was not shutting down its print operations.

Momentum, formerly Sterling Publishing, now has a stable of almost 20 media brands including print products Lawyers Weekly, The Adviser and ifa.

Disclaimer: Before joining Mumbrella, Vivienne Kelly was an editor at Momentum Media.

ADVERTISEMENT

Get the latest media and marketing industry news (and views) direct to your inbox.

Sign up to the free Mumbrella newsletter now.

 

SUBSCRIBE

Sign up to our free daily update to get the latest in media and marketing.