Photo by Jordan Strauss/Invision/AP
Oprah fans rejoice! Today, O Magazine goes digital! Wasn't it already online, you ask? Well, technically, yes and no. OprahMag.com just launched at 10:00 a.m. this morning.
If the title looks familiar, it's because it already existed under its own section on Oprah's main website, Oprah.com, the hub for all things Oprah, including her book club, the OWN network, as well as articles on health, beauty, recipes, money, decorating and relationship advice to live your best life.
This newly-minted site is specifically for her popular O, The Oprah Magazine. The print version has been highly successful with a loyal following of 2.4 million monthly readers, making it one of the top women's magazines in the U.S.
What took her so long to go digital? The print magazine first hit newsstands with its May/June 2000 issue, and now, more than 18 years later, the online version is available to her fans with daily updates and articles. The reason, said Kate Lewis, chief content officer for Hearst Magazines, to the Wall Street Journal: “We felt we were missing an opportunity by not connecting daily.”
The website will be headed by Arianna Davis, digital director. It's expected to be a profitable endeavor for its owners, Hearst and Winfrey's company Harpo, Inc. The online version will include content from the print magazine, in addition to various newsworthy stories, videos and coverage of live events, such as awards shows. And, since Hearst is an owner, there will be content from some of its other highly popular magazines, including Cosmopolitan and Elle.
Going live at a time when print advertising is plummeting at a rapid pace is obviously a wise move. And, even though Oprah is entering the online magazine game a little late, with her high social media following of over 70 million (combined Facebook, Twitter and Instagram), she's one to bet on.
According to eMarketer, ad spend for print magazines is falling rapidly and at a steep rate. Their latest figures for all print magazines, not including their digital counterparts, shows that ad spend in the U.S. is projected to see a 50% decline over the next few years. From 2017 to 2021, the amount spent is expected to drop from $10.94 billion to $5.74 billion.
Big brands and businesses would be smart to invest in Oprah's new online version of her already popular magazine. Swedish furniture line IKEA, for instance, has already jumped onboard as the exclusive site sponsor for the first two weeks.
The new website gives Hearst an opportunity to package Oprah both digitally and in print with many of its other properties. “Our largest advertisers can now buy across the entire spectrum with us,” said Jayne Jamison, the magazine’s publisher and chief revenue officer, to the Wall Street Journal.
Oprah certainly has the Midas touch and it will be interesting to see her grow her multibillion-dollar-empire even more. Forbes has tracked Oprah’s fortune since 1995, when she first joined the Forbes 400 list of richest Americans with a net worth of $340 million. She recently made the Forbes list of the 60 richest, most successful women entrepreneurs in America with her current net worth estimated at $2.8 billion. She’s also No. 298 on this year’s Forbes 400 list.
It all began in the 1980s when she went from news anchor to talk show host with The Oprah Winfrey Show, which turned her into a household name. She transitioned her hit talk show, which aired nationally for 25 seasons from 1986 to 2011, into a media and business empire. Reinvested profits from her show add up to an approximate $2 billion.
When the talk show ended, Winfrey launched her cable channel OWN. She currently owns 25.5% of the network, worth $75 million. The majority of the network is owned by Discovery, Inc. In addition, she has an 8% stake in Weight Watchers.
She's someone you want to see succeed. Well known for her generosity, Winfrey has donated $425 million, including over $100 million to the Oprah Winfrey Leadership Academy for Girls in South Africa.
