Research On The Digital Transformation Strategy Of Condé Nast Publications Inc

With the advent of the era of new media,journal publishing industry around the world begin to face turmoil.Many intelligent vehicle terminal,the interaction of the diversification of reading and information dissemination make the circulation of traditional periodicals greatly declined,and advertisers are losing rapidly.Especially in the last two or three years,with the popularization of the smart mobilephones,many famous old brand magazine stop publication.Therefore,how to embrace new media and find the suitable way of survival and development in the new media environment and successfully complete digital transformation,has become the publishing industry's priority in business management.Condé Nast Publications Inc as the world's leader of the industry,in recent years,has been actively exploring the digital transformation and carried out a lot of digital strategies.These strategies has play an exemplary role and reference.Therefore,this article take CondéNast Publications Inc as the main object of study,from its own development and management status,to study it's digital transformation strategies and development problems,in order to provide some experience for the publishing industry in China.Currently,Condé Nast Publications Inc is facing a very grim background of digital transformation,the traditional magazine circulation declined,the print advertising revenue fell,the digital migration of advertisers obviously,and the paper magazines are fully contracted,some old brand magazines and websites even stop operation,and the enterprise internal departure of layoffs storm has also been continuously.In order to make profit,magazine editors must be responsible for both content and advertising,it has challenged the professionalism of many conde nast's magazines.Therefore,Condé Nast Publications Inc start with their own actual situation and the advantage of operating one hundred years,including the most influential magazine resources,abundant capital and strong ability of mergers and acquisitions,perfect team structure,the comprehensive promotion of distribution channels and a huge number ofsocial networkers,to grasp the digital technology bring new content and market opportunities,develop a series of digital transformation strategies,such as in terms of content,develops digital publishing business and the content of the new digital products,innovatives content editing processing way,speeds up the combination of technology and content.In the aspect of data resources,a special data service organization is established and a new digital advertising service model is developed based on data resources.In the formulation of the transformation goal,it has established the digital leading and mobile priority,and expanded various business models.In terms of organizational structure and talent introduction,Condé Nast Publications Inc is trying to change the decentralized brand organization structure into centralized management mode.Through layoffs and reorganizations,vigorously introducing digital media talents,and developing a series of measures to train compound talents.Of course in the digital transformation,Condé Nast Publications Inc is not only faced with the competition threat of rival Hearst group,but also a lot of setbacks,such as the contradiction between the past decentralized operation mode and the current reform of the digital intensive management,the restructuring of the enterprise structure,the reform resistance caused by the reshaping of the enterprise culture,the natural obstacles to the deficiency of gene in the transformation of e-commerce,and the present situation of the real complex high-quality talents still lacking.These setbacks have also provided useful experience and lessons for the publishing industry of China.Stones from other hills may serve to polish the jade of this one.The exploration of digital in Condé Nast Publications Inc brings many inspirations to China's publishing industry,such as using the "platform thinking" to make a strategic transformation to create a platform type media,let the magazine publishers turn to the platform type media,establish a data center,form a new operating system around the needs of the users,the needs of the advertisers,enrich the product combination and digital publishing marketing,and strengthen the ability to integrate with the emerging technology and make great efforts to train new type of digital compound talents and so on.In conclusion,we hope that this study can bring some fresh ideas to China's publishing industry reform.