Gordon Patterson, MD of Starcom MediaVest Group (SMG), said yesterday, Tuesday, 16 February 2010: "While I'm always saddened when a title considers closure as being the only option remaining, what really disheartens me is when the management says the magazine has failed to attract consistent advertising to secure its financial future, leaving it with no choice but to close.
"The suggestion left in the mind of the reader is that somehow the advertising industry is to blame and has failed it."
Patterson, who is also the current V-P of Audit Bureau of Circulation (ABC), SA's circulation watchdog, said he has been told by many of his peers that this is a cheap shot, and he agrees.
ABC figures show that since 2006 (July-September comparison) Femina had lost almost 13% of its total circulation - a shocking state of affairs for a once-respected title now in dire straits and on the brink of closing.
Patterson said: "What destroys a magazine or any title for that matter is two-fold. A growing disconnection between content and reader expectations coupled with poor or no leadership.
"Declining reader affinity can be instantly measured by monitoring circulation. Circulation (paid-for circulation anyway) is simply democracy at work.
"In itself, and given the tough trading conditions, this performance is not too bad. Many other titles have experienced tougher circulation declines but have remained in business.
"We've seen several titles cut back in their print runs in order to obtain greater efficiency and more robust profits and losses.
"In publishing you have to strike a balance between expenses and income and you can be small but profitable," he told Bizcommunity.com.
He added: "My personal belief is that in tough trading conditions one needs strong leadership rather than management, and I suspect that this factor may be at the root of Femina problem."
Patterson, who insisted he was commenting in his capacity as a media space purchaser and not as an ABC employee, explained: "Strong visible and committed leadership inspires confidence, motivates staff, liberates innovation - which is always more profitable for all concerned - while managers tend to seek the reassurance of familiar and expedient cost efficient solutions.
"Not surprisingly the latter approach often produces a mediocre and a self-fulfilling poor future.
"Solutions based on cost-saving at the expense of customer needs often prove to be false economy.
"Only in time will we know the truth behind the closure, but in the meantime at least 30 000 readers will have lost a familiar friend. It's a sad day," he concluded.
Visit www.smvgroup.com.
Last updated Tuesday, 23 February 2010, at 4.35pm
