Monaco: Media Forum debates future of print

Posted by Elena Perotti on October 25, 2006 at 12:26 PM

The monarchy of Monaco recently hosted the first edition of the Monaco Media Forum.The main issue faced by the attendees - leaders of publishing, broadcasting and advertising - was how to face what the title of one of the panels called the “digital tsunami”.

The question as to how shall the traditional media change, was not precisely answered during the forum, but participants showed a clear division between optimists and pessimists towards the future of print.

"The classic media will have to change dramatically if they want to stay in the game," said Publicis Groupe CEO Maurice Lévy.

"By the time this conference reconvenes, a lot of [print outlets] will be gone", warned Bob Guccione Jr., founder of Discover Media. "Print media content is actually very, very valuable. What we do matters," Guccione added to his statement.

Several participants pointed out that features such as analysis and research are still a prerogative of newspapers.

"What we need in our business is someone who is open and flexible and who is able to see the potential of the new technologies", said Jack Klues, chairman of Publicis Groupe Media.

Technologies are also being created to keep advertisers interested in print: at the Forum a Japanese software was presented, that allows mobile phones to read codes embedded in magazine ads.

Source: Businessweek Monaco Media Forum

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