Yes, that’s the ter­ribly tacky name for the next ses­sion where Michael Elliot, Inter­na­tional Editor and Deputy Man­aging Editor of TIME magazine is talking to us about all the TIME branded products. Finally, someone’s talking about magazines.

Bite-sized, just for you: 

  • Magazine market is very healthy.
  • Cir­cu­la­tion: 3.25 mil­lion a week in the US, a little over 1 mil­lion inter­na­tion­ally.
  • Best selling issue: the annual top 100 most influ­en­tial people.
  • Made a decision to reduce the cir­cu­la­tion by 18% because it was becoming fin­an­cially unten­able to main­tain. (How?) Did a thor­ough redesign. 
  • Com­pletely changed our con­cep­tion of what time​.com was doing and what it’spurpose was.
  • Advantage in magazine world was that it was never addicted to clas­si­fieds like news­pa­pers.
  • Time​.com has relaunched as a 24-hour news site with editors passing on respons­ib­ility from New York to London to Hong Kong. Went from irrel­evant in rating 10 years ago, now n top 10. 
  • Aver­aging 80 mil­lion page views per month, 9–10 mil­lion uniques, vast majority are not TIME readers.
  • Real­ised people didn’t want loc­al­ised ver­sions so bundled TIME Europe and US etc into one.
  • Can geotarget advert­ising for dif­ferent audi­ences around the world, so they do pay atten­tion to global audi­ence in local ways.
  • Changed print pub­lic­a­tion day from Monday to Friday so the print ver­sion has become a weekend read.
  • Key to suc­cess is building com­munity – as has been said over last few days.
  • Strong colum­nists who can develop strong sense of com­munity; daily blogs; up to the minute news from the cam­paign trail.
  • Do what we do best and link to the rest.
  • Take advantage of mul­tiple media: inter­view with Gordon Brown last year, did two-hour inter­view for text and then said, can we do a TV inter­view? Did a 20 minute video inter­view for imme­diate upload.
  • Dif­fi­culty with the busi­ness model: trading ana­logue dol­lars for digital cents. 
  • Hopes that decline in legacy busi­ness is shallow enough that new media model can take up the slack.
  • Just in case you missed it yes­terday, video is the future.

And run­ning out of bat­tery again (damn Macs) so I’ll be back later…