Custom magazines are thriving, says the Dow Jones News Wire. Includes a quote from our good friend, Jim Gabal. Hope he’s accurate.
That translates into good times for custom publishing companies, one of the few publishing segments growing in the current economic environment. Custom publishers had $1.5 billion in revenue last year, up from $1 billion in 2000, according to Jim Gabal, co-chairman of the Custom Publishing Council, a trade group. Consumer magazine revenue declined during the same period to $16.2 billion from $17.7 billion, according to Publishers Information Bureau.
“Customer retention is critical. This is a very important tool in communicating with whatever constituency of customers you may have,” said Gabal, who heads U.S. operations for Multi-Vision Publications Inc., Toronto.
Gabal said the financial services industry is a small but growing market for custom publishers. For the brokerage industry, it’s a subtle and effective way to increase client loyalty and activity, he said.
“The sky is the limit,” said Gabal of the amount brokerages are willing to spend to reach their wealthiest clients.
For more on custom publishing, here’s a good place to start.