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2010-11-25 13:46:45
Lauren Indvik Lauren Indvik Wed Nov 24, 2:50 pm ET
Virgin Group Chairman Richard Branson is set to unveil a new magazine built
specifically as an app for the iPad at a press event on Tuesday in New York
City.
We first caught wind of the magazine in July. AdAge reported that the magazine
would focus on the entrepreneurial space, highlighting new creative, business,
travel and technology ideas to an upscale international audience, a la Fast
Company and Wired. The invitation for Tuesday's event, however, cites
international culture, entertainment, design, business and travel among its
list of themes, suggesting a different focus.
In fact, it sounds like this could simply be a digital in-flight magazine.
Virgin already distributes a handful of printed magazines on its flights,
including Seatback and entertainment title Electric!, which are handed out to
customers rather than marketed to the general public.
The venture is nevertheless interesting in light of the number of publications
that have created digital versions for the iPad, and the revenue publishers are
commanding from advertisers (between $75,000 to $300,000 for a seasonal
campaign, The New York Times reports). That's not to mention the $30 million
Rupert Murdoch/News Corp is investing in the forthcoming iPad-only newspaper,
The Daily, rumored to launch in December.
The iPad and other tablet devices present an opportunity for publishing
companies to create paid-for content without the costs of printing and
distribution. Still, the bulk of advertising revenue for newspapers and
magazines continues to come from print, and producing apps for the iPad can be
extremely costly. We'll have to wait and see whether Branson and Murdoch can
drum up enough iPad advertising revenue to be profitable.