The other week I found myself in a meeting with the CEO of a niche B2B publisher, and a senior member of his digital product team. The CEO had spent much of the previous hour bemoaning his declining print revenues, as well as outlining an advertising-driven attempt to go digital that, it’s fair to say, has experienced some pitfalls.
The digital executive (who was new and therefore not involved in the aforementioned digital transition) then began outlining, very articulately, proposals to create a high-value, subscription-driven online service out of the data published every issue in the back of the magazine. The sort of service that, were they to get it right, would generate millions in recurring, secure subscription revenue every year. His CEO interrupted him by slapping down a page of the magazine, showing an ageing executive in a suit, and declaiming “but most of our audience looks like this”.