Magazine Publishers Find New Hope from Online Startup Maggwire.com

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[Editors Note: Images are included with this press release]

Maggwire.com is a promising web platform that provides magazines and magazine publishers with the framework necessary to charge readers online. For the first time, magazine readers can select a topic and browse current magazine articles from a pool of more than 600 leading magazine publications. While Maggwire Beta is currently free, Maggwire is partnering with magazine publishers to develop Maggwire Premium, a subscriber model that will deliver premium magazine content exclusively to Maggwire users.

Maggwire Premium will launch in 2010 and give users access to top rated articles from hundreds of magazine titles on a per "channel"--or per topic--basis for a flat monthly fee per channel. Maggwire Premium will also include features such as user-driven behavior-based personalization and predictive content caching. Co-founder and CEO, Ryan Klenovich describes this as a "fully immersive experience no other form of media can replicate." Unlike Amazon's and Apple's approach to content distribution, Maggwire is an open platform, accessible from any phone, computer or digital reader.

In establishing an easy to use central destination to discover and read high quality magazine content, Maggwire saves readers time and money. Klenovich argues that "publishers have not been offering online consumers what they want," he says, "Just as iTunes proved people will pay for reliable music downloads, people will pay for a personalized magazine experience that delivers reliable content."

So far, virtually all digital initiatives by magazine publishers have been unsuccessful. Co-founder and COO, Jian Chai says, "This is an exciting time to reinvent today's magazine industry. If we remain flexible and responsive, there are tremendous opportunities ahead." He points out, "Magazines have achieved limited innovation compared to music, videos and books. Now we finally have a product focused on delivering an incredible experience to readers, while helping magazine publishers and advertisers reach their goals."

For years consumers have been shifting their time and attention to blogs, social networks, television and video games. Magazine publishers have begun to acknowledge that these alternative media outlets are even bigger threats than rival magazine publishers. Leading executives at Time Inc, Hearst, Condé Nast and Meredith have all agreed on the importance of partnering with each other to establish a digital storefront for magazine content.

Hit hard by the recession's drop in advertising dollars, the magazine industry's primary defense has been massive reductions of subscription rates to maintain print circulation numbers. In some cases, twelve month subscriptions have been offered for less than the cover price of a single issue at the newsstand. This defensive approach has been coined "magazine suicide" by Samir Husni, Director of the Magazine Innovation Center at the University of Mississippi. He suggests, "We need to think offensively, not defensively. Maggwire offers new hope."

More information and magazine articles are available online at http://maggwire.com/.

Media Contact:
Ryan Klenovich
Maggwire.com
ryan(at)maggwire.com

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Ryan Klenovich
Maggwire Media
(310) 425-3787
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