The concept of my magazine is a music photography magazine, aimed at those wanting to get involved in this style of photography. My aim is to focus more on the art of photography, emphasising how it can be an article to treasure. It will be sold on Etsy and printed on a paper with a matte finish and perforated edges on the special poster/photo pages that will be the main feature of the publication. This will be so that readers can keep them for their own keep sake and inspiration when it comes to producing their own music photography work. I will aim to have the covers printed on thicker paper than the inside pages with the same matte finish. It will be a special edition one-off print with only so many copies available with the intention of making it more desirable and wanted by consumers.
The way I am looking to fund this project is by starting up a Kickstarter campaign. The idea behind this is that my target audience can actively get behind a project that they want produced. Therefore, when they donate £20, they will receive a copy of the issue once manufactured. Any donations more and less than £20 will go towards producing the target amount of copies that will be sold on Etsy after the Kickstarter has been successful.
The content of my magazine will include a variety of different articles that aim to teach aspiring music photographers about the field and what they need to do to get involved. This will include articles on must-have equipment, a step-by-step guide to their first gig shoot, an interview with a music photographer, a list of upcoming gigs, and small feature on new album releases. As previously mentioned, what makes Sound Exposure so special is the limited-edition posters of photography that will be torn out and used for inspiration. These will have perforated edges to make them easy to tear out without damaging the poster, which I have found an issue in the past through my own experiences.
After researching into the existing market, I found that there isn’t a print music photography magazine out there. The majority of music magazines have a miniscule section on the photography aspect of the industry and there is only one specific music photography website available online called RockShot Mag. However, my magazine is different to theirs instantly, in that we are a print edition. What makes our magazine even better is that it includes the photographs/posters for the readers to keep and that it is more of a collective piece of work created with the intention of being a collective piece itself. This means that there is a gap in the market for a magazine that is new and refreshing, such as the music photography magazine I will produce.
The British Photographic Council produced a 2011 report of statistics regarding photographers, which included findings that stated that 82% of photographers are male, leaving only 17.7% to female photographers. This statistic instantly allows me to deduce that the majority of my market is male based. However, I will want my magazine to be appealing to both sexes, potentially persuading more females to enter the field, so I won’t allow this to affect my design and content too much. Therefore, I will be aiming for a gender neutral colour scheme.
The same report also produced result showing that the majority age groups for photographers is 46-50 (16.8%) and 41-45 (15.2%) years of age (The British Photographic Council, 2011). I will be including content that mainly aims at these age categories, but I also want to take into consideration people beginning to take up an interest in music photographer. Therefore, I will also be aiming for the age groups below 41 years, as it would most likely be those that are beginning to take up this profession/hobby that would purchase the issue. This makes my total percentage for my audience in relation to the number of photographers is 58.3%, using the statistics from The British Photographic Council (2011) and in conclusion, my target audience ranging from under 25-50 years of age.
Kickstarter is a tool use around the world by creative individuals and companies that have a concept that they want to produce. When they themselves cannot afford to produce the product, they use Kickstarter to get people involved by asking for donations or contributions from people that like the idea.
The producers set a goal to reach on the website within a certain amount of days. If the goal is reached the product is made and if not, those that donated don’t get charged. What tends to be the case for most concepts like magazines, is that those who contribute get a copy of the product when it’s released. The only factor to consider when starting up a project is that ‘Kickstarter collects a 5% fee from the final funding total’ (Kickstarter, 2017). This will be a factor I will need to take into account when working out how much production will cost.
Etsy is an e-commerce website that allowed people from around the world to sell their own items, which tend to be handmade or vintage. It has around 1.8 million active sellers and 30.6 million active buyers (Expanded Ramblings, 2017). Membership to the website itself is free, however ‘it costs £0.15 to publish a listing to the market place’ and ‘once an item sells, there is a 3.5% transaction fee on the sale price’ (Etsy, 2017). This therefore means that while, membership is free, selling on the website does come at a small cost. I will consider this cost when working out how much to sell my magazine for.
There are a wide variety of different printing outlets available across the country that could be used to print Sound Exposure. For example, there is an online company called Blurb that can print a magazine for £3.99. This includes printing on a semi-gloss cover and matte finished pages (Blurb, 2017).
Alternatively, if I was looking to bulk produce them through an online company, I would consider using Ask Print who have deals on large orders. For instance, to buy 25 copies of a 16 page A4 magazine with saddle stitches it would cost £48.45 (Ask Print, 2017). This equates to £1.92 per magazine.
To estimate how much the magazine would be sold for, I will take into account these figures as a guideline. The only issue with these companies is that they wouldn’t be able to do the perforated edges and specific finishes that I am looking to include. To do this, I believe I would have to go to a local printing company, but I have found that the cost of these finished are far too expensive. Perforated edges would also mean that the paper used would have to be a minimum of 135gsm (Saxo Print, 2013), adding to the initial cost of production further. After much consideration, I would have to remove these features from the initial design, as it would escalate the cost too much to the point where consumers wouldn’t justify purchasing it. Other than this, the initial plan will remain the same through, including the content and design.
Once the magazine has been produced, those who donated £20 or bought the product on Etsy would be sent their magazine in the post. For the average large letter, which covers the size of the magazine, it would cost £1.74 to post it first class and £1.58 to post it second class (Post Office, 2017). I believe I would use first class postage, because with it being a Kickstarter project, someone of the customers may have waited long enough for the project to reaching its funding goal. Therefore, I think this would be best for customer satisfaction.
To begin with, it is important to establish how many units will be produced. For a starting point, I would consider selling around 50 units to keep this concept of being special edition active. I’d use the company Ask Print, due to the pricing they offer on larger orders. Therefore, 50 units of a 16 page A4 magazine with saddle stitches would cost £82.71. This equates to £1.65 per magazine.
On top of this, I would have to add the £1.74 for postage to the customer. Taking the total production cost (thus far) up to £3.39. As with most businesses, you want to make as much profit as possible. With the magazine being limited edition and of a fairly high print standard, I believe I could get away with selling the magazine for around £20.
Kickstarter and Etsy would take 5%, taking the profit down to £19. Then after this, I would need to deduct the production costs (print and postage), meaning that my overall profit would be £15.61 per magazine. If all 50 units sold via. Kickstarter and then Etsy, I would be making a grand total of £780.50, excluding any extra donations that would help to fund production. Therefore, taking into consideration the printing, distribution, and start-up costs I will be selling Sound Exposure for £20.
Expanded Rambling (2017).55 Amazing Etsy Statistics and Facts [online]. Available at: https://expandedramblings.com/index.php/etsy-statistics/#.WcwRmNOGNhA [Accessed on: 27 September 2017]
Esty (2017) Fees for Selling on Etsy and Pattern [online]. Available at: https://www.etsy.com/uk/help/article/136 [Accessed on 27 September 2017]
The British Photographic Council (2011) Industry Survey of Photographers 2010: Full Results & Analysis [online]. Available at: https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwjgwoDL4NLWAhULLMAKHY-SCz0QFggoMAA&url=http%3A%2F%2Fwww.british-photographic-council.org%2Ffile_download%2F5%2Fbpc-2010surveyresults.pdf&usg=AOvVaw0Zva8KqiNCxNQ2MAFDVdm5 [Accessed on 2nd October 2017]
Post Office (2017) UK Standard Delivery [online]. Available at: https://www.postoffice.co.uk/mail/uk-standard [Accessed 4th November 2017]
Blurb (2017) Start Your Project as a Keepsake [online]. Available at: http://www.blurb.co.uk/getting-started?tab=tab-magazines [Accessed 4th November 2017]
Ask Print (2017) Magazine Printing Prices [online]. Available at : http://www.askprint.co.uk/services/magazine-printing-prices.php [Accessed 4th November 2017]
Saxon Print (2013) Rules for your Perforated Products in Printing [online]. Available at: https://www.saxoprint.co.uk/blog/perforated-printing/ [Accessed 4th November 2017]
Kickstarter (2017) Why Kickstarter? [online]. Available at: https://www.kickstarter.com/learn?ref=nav [Accessed 4th November 2017]