It's no secret Bauer Media is working on extending its expertise beyond print magazines. Having just launched its digital women's network, the publishing giant is now looking at customer-centric ticketed events as a major revenue source. While the brunt of the publisher's revenue currently stems from print advertising, Bauer Media sees events as a potential generator of up to 30 per cent of projected total ad revenues for the company.
“90 per cent of our revenue still comes through print, about 10 per cent comes through digital, certainly in the next year or so, events could take up 10 per cent of our revenue stream. I look at business models overseas and there are some very successful ones out of the US where events make up a third of the total revenue stream. I'd like to see it get to that point with the Hearst business,” Hearst Bauer Media Brands general manager Marina Go tells AdNews.
“We're looking at the moment at what we can do with Cosmo around body and fitness. We're looking at it on different levels, but already the three major events are pulling in 5 per cent of revenue so it's not a stretch to get to 10 per cent, but I'd like to see us get to an event revenue stream that’s worth a third of our total revenue.”
As part of the expansion into the events arena, Bauer Media has just launched Elle's Morning of Little Life Changing Ideas. This event follows on from the success of Harper’s Bazaar's Bazaar At Work initiative.
“We wanted to create an offline community where we can bring readers together and add something to their lives outside of the hard sell," explains Elle editor-in-chief Justine Cullen.
“Magazines have done that forever. We do fashion and beauty events in store and they're fantastic, and excellent added value for clients, but they didn't give readers any real reason to attend other than a goodie bag and glamorous night out. So, for us now, there's a real focus on events that add to readers’ lives and give them a message to amplify the message beyond the people in the room.”
The Morning of Little Life Changing Ideas will be held on August 1 at Luna Park and is Elle's first ticketed event. The half day event will cost attendees $80 and will feature more than 15 expert speakers on topics including relationships, finance, career success and wellbeing.
The line-up of speakers features author Zoë Foster-Blake, Barre Body creator Emma Seibold, Snaptch founder Tori Bowman, and Stylerunner CEO Julie Stevanja.
To take part in Elle’s Morning of Little Life Changing Ideas, visit https://elle.pleezpay.com/.
Image: Elle.com.au.
