Wednesday, 5 November 2014

Synergy, Technological convergence & music magazine

We live in a world where in order to increase profits and market penetration music magazines are also brands. I have found when doing my research that magazine companies refer to their magazines as a brand. This is to make sure not to confine themselves to print
Technological convergence is when there is a piece of technology that you can do everything on. For example on a iPad you can listen to music, surf the web, do some shopping, research and even read a music magazine. Technology is everywhere. It is because of technological convergence the concept of music magazine's changing
Synergy is when a brand does not just stick to one product. It is a way of making more money out of a brand. By selling your product on different platforms you can reach more people and obtain more advertising revenue.  For example films. Nowadays rather than just having a film, the film company exploits the film and you can buy merchandise, posters, soundtracks.  Magazine companies also use synergy to exploit their brand. There exists radio stations that are in association with a particular music magazine, and CD's that are made by a music magazine brand, and some concerts are sponsored by a music magazine brand.
An example is NME.  If you go on the NME website there is an option to buy tickets. This is a way for the brand to make more money. There is also CD's made by NME. Though it is currently off air, there is NME radio.
Personally, I feel music magazines have not really exploited synergy and convergence as much as they could have.
In my magazine I could exploit synergy and convergence. I could be more imaginative than music magazines are now .  Music magazines could use synergy by having music magazine brands on food. You can find films on foods but you don't find music magazines on foods. This is something I could think about.

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