Ita Buttrose has been appointed chairman of Reddo Media Services, an iPad/tablet-specialist digital publishing start up that she predicts will help change the future of magazine publishing in this country.
“Magazine publishers are struggling with declining circulations and their revenues are under pressure," says Buttrose. “The old ways that once served us well are no longer the way of the future. Tablet publishing is a far more cost-efficient, modern way to produce a magazine.
“But like everything to do with publishing you have to know how best to take advantage of the new trends while at the same time not alienating your loyal readers’ needs."
Buttrose says that research shows that international consumers love tablet media, and that the same trend is becoming increasingly apparent among Australians.
“Forecasts are that by December, there will be well over 3.5 million tablet devices sold in Australia, and around half of all Australians will be using tablets by 2016. Tablet publishing is set to boom. It will allow publishers to update their magazines, to give them a 21st century look without losing their identity or popularity with their readers. It is an exciting innovation that will result in a brighter, more profitable future for magazines. No publisher can afford to ignore it.
“I am excited by what tablet magazines have to offer. I am looking forward to helping established publishers transform their publications for tablet devices. Indeed there is also a tremendous opportunity to launch titles exclusively on tablet. As a unique outsourced service provider, Reddo has the expertise to help publishers publish on tablet without them having to invest in new and ever-changing software, staff and endless internal training."
Buttrose says that the highly engaging and interactive tablet publishing format offers massive potential not just for publishers of consumer, business to business and trade magazines, but it is also ideal for custom publications, corporate reports, manuals, internal documents, and for government and education publications.
“It’s exciting to be a pioneer in this next important - and for some companies crucial - stage of publishing, an industry that I am passionate about," she said.
Reddo has successfully completed a first round capital raising enabling it to focus on the rapid expansion of its business in the Australian market. The raising was led by Reddo director Tim Goodman.
Buttrose and Goodman join forces with Reddo founders, Shane Mitchell (CEO) and Troy Martin (COO), who are both seasoned digital media and publishing executives.
“By the end of this year iPads and other tablets will be in over a third of homes, and most Australian businesses are simply unprepared for what that means," Reddo CEO, Mitchell says. “Traditional publishers are under increasing pressure with falling readership and an increasingly difficult ad market. I believe that outsourcing is a critical strategy for any publisher wishing to reduce cost, maintain profitability and improve competitiveness.
“Creating world-class products and taking full advantage of these new opportunities shouldn’t mean having to invest heavily in technology and resources, or getting bogged down in non-core business processes. Reddo has the expertise and resources publishers need," Mitchell added.
Reddo provides an outsourced, enterprise-grade tablet publishing solution suitable for all magazine publishers. Reddo has chosen the Enterprise Agency Edition of Adobe’s Digital Publishing Suite as its platform to create and distribute publications for tablet devices. Adobe’s Digital Publishing Suite is the platform of choice for world-leading publishers such as Condé Nast, Martha Stewart Living Omnimedia and National Geographic.
The emergence of and rapid adoption of tablets in the market is also creating an entirely new advertising channel.
“Media consumption on tablet devices will provide a scaled medium for advertisers to reach their audience, and the experience will differ fundamentally from PC or mobile." says Mitchell.
“This offers publishers an excellent opportunity to generate new revenue by selling multimedia and interactive advertising in their tablet magazines, which overseas experience shows immediately engages readers and can convert them into customers at the tap of a screen."
“Readers appreciate the enhanced content," says Mitchell. “Research shows dwell time on tablet ads is significantly longer compared to print, and the medium enhances the message."
Reddo will also launch a premium advertising representation service, providing marketers with the quality and scale they need to fully embrace tablet advertising.
“We are the first company in Australia to offer this platform-specialist service to advertisers and publishers. We believe that tablet publications have the potential to become the premier way to advertise to consumers via tablet," says Mitchell.
Reddo launches its business with magazine publishers and corporate clients including Switzer Media + Publishing (RUSSH Magazine), Prime Creative Media, Culture Media, PricewaterhouseCoopers, Jobpac and magazine industry peak body Publishers Australia.
Reddo Investors include leading Australian business people from outsourcing, technology, investment banking, prime industry and publishing, including former News Ltd Executive and Publisher Alasdair Macleod.
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