Realtor Magazine Reduction
As reflected in the NAR Communications Committee minutes from the Mid-Year meeting in D.C. last month, Senior VP of Communications/Conventions at National Association of Realtors, Frank Sibley addressed the Committee about “the Leadership Team’s decision to reduce the publication frequency of REALTOR Magazine to six issues annually in 2010 as an economic decision resulting from the current economic situation.”
The financial side
It was recently released that based on 1,200,000 members at $6.00 per member each year, publications (Realtor Magazine) brings in roughly $7,200,000 annually.
As a media outlet, revenue also comes from other sources like advertising dollars from conference vendors and sponsors, advertisers of Realtor Magazine, Realtor Magazine Online, Realtor Magazine E-Newsletters, Realtor AE Magazine and sponsors of the Realtor Magazine Good Neighbor Awards, Realtor Magazine Young Professionals Network, and Realtor Benefits Program.
Advertising Dollars
According to sources, the 2008 media kit given to sponsors reflected that print advertisers are required to commit to conference sponsorships (meaning long term) as well, making advertising costs out of reach for many advertisers, especially in the era of marketing budgets being slashed globally. Budgets for print magazines are costly and along with other magazines across the nation, survival steps are being taken. Although we know NAR member contributions to the operations budget, we do not have access to financials for ad income, print or mailing budgets.
Green Movement
One of the National Association of Realtors’ focuses has been on environmentalism and working toward being more green and reducing print publication in half would certainly reach that goal, however, it was not cited anywhere as a reason for cutting print. Being green seems to simply be a positive side effect of the Leadership Team’s decision.
What do you think?
Would you miss Realtor Magazine? As addicts of information, most bloggers actually read the magazine, have commented around the blogosphere about the quality of content and even use it as a reference and would miss it if it were discontinued even if only by half.
If you were in charge, would you cut publication or alter advertising structures? Should NAR member dues given to Realtor Magazine be cut in half as the benefit of monthly publication has been cut in half? Is this a sign of things to come? What else is on the chopping block?
