Sunday, April 12, 2009

Updates on the Runway Magazine Closing


Since I have pontificated on this issue in the past few days here, I want to direct any interested readers to some other publications which have published updated information on the Runway Magazine closing this weekend. It appears that one of the owners will be returning to refund prepaid advertising and other expenses. I applaud them if this is true! I have no first hand information on these developments, and can't comment effectively on this.

2 comments:

  1. Here are some threads of comments I've posted on the issue in SL Inworld Today:


    12/4/09 12:36
    Blogger Eddi Haskell said...

    Maggie, I see that you intend to refund prepaid advertising funds and pay your staff for April salaries. God bless you for doing the right thing. And I wish you 100% recovery.

    I do think people are being harsh on Frolic Mills though. I do not think he did anything wrong, he was contacted in the first place by the Runway staff, and I believe him when he said that he was trying to keep some people employed and advertisers happy.

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    12/4/09 13:43
    Blogger Eddi Haskell said...

    I want to point out some facts about publishing in Second Life vs. publishing in the real world.

    1. ADVERTISING IS PURE PROFIT:

    There is no print bill to pay for any Second Life publication, or any exclusively online publication for that matter. Any page of advertising sold is pure profit after any commission is paid. So, adding another page of advertising is not costing publishers here anything.

    2. THERE IS NO WAY TO INDEPENDENTLY VERIFY READERSHIP CLAIMS IN SECOND LIFE

    There are no circulation audit bureaus in Second Life that I know of (Business Publication Audit and Audit Bureau of Circulations exist in the real world), and means of monitoring effective "click-through" are limited inworld. The only way to see if advertising is worth the expense is to ask your customers where they have seen your ad when they purchased a product or do some sort of promotion that will encourage people to give you information if you are an advertiser.

    3. 100,000 HITS PER MONTH DOES NOT MEAN 100,000 UNIQUE READERS PER MONTH.

    Some publications claim 100,000 hits a month. I do not think this would be impossible to do if you are a well established publication here, and count any unique visit within a 30 minute period as many statcounters allow as a "hit". However, since many readers will look at the same publication several times a month, this might translate into only 20,000 unique viewers a month or less. It all depends on how you are counting these numbers.

    4. TWO-FOR-ONE IS NO BIG DEAL.

    Two-for-one deals are commonplace in any Second Life or other online publication (there is a recession and people can't spend easily), and in the real world for print publications that cannot verify their circulation through an independent audit. Such deals are not that wonderful.

    ReplyDelete
  2. I poster this on Dial D for Drama

    Eddi Haskell said...

    The concept of "circulation" is a print publication concept. It is much harder to project this term to any Second Life or Online Publication. You need to look at "hits", or total views in a given period of time, and advertising click - through to monitor publication effectiveness in Second Life.

    It is possible that a well established publication could have 100,000 unique hits per month. Jago Constantine and myself publish several blogs, but monitor two -- and we are approaching 6,000 unique hits a month in both combined-- so I can see how someone can get 100,000 in a commercial publication with kiosks and things.

    I think it would be much harder to get 100,000 unique avatar "readers" per month in Second Life. It is possible, but that would mean reaching 10% of all unique avatar names who log in every month with at least one "hit". That would be a very hard thing for any publication to do.

    The issue is irrelevant though. Any advertiser should be looking how effectively advertising is in bringing in sales. Ask your customers, actual and potential, what they read, and how they heard about your store through qualitative research. Make sure to give people incentives such as special promotion discounts to provide this information to you.
    April 12, 2009 6:46 PM

    ReplyDelete

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