A Guarantee From Time
There are simply too many options beyond traditional advertising for media owners to set the agenda any more. So in another sign on how the power is shifting away, publishing giant Time Inc. is breaking with long-held conventions of the magazine industry and has agreed to report circulation sales figures in nearly Real Time and give advertisers circulation guarantees for each issue in which they buy an ad. Traditionally, media only provided circulation data to its advertisers twice a year and guaranteed a level of circulation averaged across multiple issues. That standard has looked increasingly brittle as digital media delivered new options for advertisers as well as almost instantaneous results. To live up to its promise, Time Inc. is ordering all its magazines to join Rapid Report, the online service introduced last summer by the Audit Bureau of Circulations. Time Inc.’s sheer size is likely to tilt the landscape irrevocably toward the faster, more precise metrics. And media planning and the marketing fraternity could soon be rejoicing. Read more from MediaWeek.