Taipei, Nov. 22 (CNA) The magazine industry will be as strong as ever facing the challenge of the Internet and the "digital revolution, " but it still has to adjust to and accommodate current trends to sustain its development, publishers from Asian countries said in an international conference Wednesday.
"We all have to adapt and change, " Adi Satria Ahmad, Chairman of Magazine Publisher Association Malaysia (MPAM) summed up in a forum, titled "Asian opportunity in Digital Revolution, " the final event of the two-day International Magazine Conference of Taipei (IMCT.)
Speakers at the forum cited several statistics as showing that the magazine industry is "alive and well" and "holds strong pull" over other media given the impact of the Internet and various digital development.
Surveys showed that over three-quarters of readers still prefer printed version of magazines and that online versions only complement hard copies, said Society of Publishers in Asia (SOPA) Chairman Alan Lammin, who also serves as the Publishing Director of Time Asia.
And while it's true that the circulation of most magazines has been decreasing and the advertisement market is as competitive as ever, there's no need to panic or fear. The global magazine market is expected to grow from US$100.7 billion in 2006 to US$117.2 billion in 2011, said Ho Sum-kwong, President of Magazine Publishers Association Singapore (MPAS.)
It's also true that the media landscape in Asia has been complex and dynamic, Lammin said. However, he noted, nowadays technology will always be the key driver and youth a critical driving force.
Satria cited the case of a Malaysian magazine Mangga, which had seen its circulation drop, as an example. Mangga revamped its Web site and created another ManggaTV Web site, which is similar to the online video sharing site Youtube, to increase its interaction with young readers. It is now one of the most popular magazines in Malaysia, Satria said.
Adopting another strategy, the Singaporean government is promoting the industry with a "Singapore Media 21" initiative, which seeks to increase the industry's contribution to the gross domestic production (GDP) from 1.56 percent to three percent in 10 years, Ho said.
For Taiwanese publishers, they have a "short cut" to take: China, said James Yang, Chief Advisor of Magazine Business Association of Taipei (MBAT.) The digital revolution and the rise of China, he said, present two of the most important opportunities in Asia.