The emergence of online magazines can be mainly attributed to a reader’s propensity to enjoy his favorite magazines sitting back at home. While traditional paper magazines had to be bought from stores, online magazines can be availed only at a click. Fashion magazines are probably the most read online magazines alongside business magazines. It is considered a very profitable business and environment of Australia is considered ideal for this business.
Canvas is a unique and an exquisite Australian online fashion magazine which started back in 2006 and now has gained tremendous popularity amongst its readers. In the initial stages the magazine was started by a group of fashion crazy friends who did not have the money to print a paper magazine. Canvas features styles of Australian locals and also has a section for various prominent style statements which are being followed across the world. It is used by people throughout the world from ordinary households to people in fashion world.
Canvas magazine is a true reflection on the Australian style statement and mainly features that are vibrant, bright and colorful, fresh and exuberant style statements. Inspired by the bushes, cities and the beautiful beaches of Australia, Canvas paints an extremely realistic picture of a normal Australian’s fashion consciousness. (McEwen, 2008)
The success story of Canvas is truly amazing. The political stability of the country is probably one of the most important reasons for Canvas’s success. The country has followed a structured reform system to build a very stable economy. Canvas Magazines have not been deterred by political factors like the intervention of the government in its operations. The Australian government made no efforts in order to sustain the paper magazine business when Canvas Magazines came out with the online variant. Though the paper magazines were on a rapid decline no subsidies were offered to them by the government. (McEwen, 2008)
Australia had a very stable economy in spite of the recent recession and the economic downturn. Australia even went on to become the major regional finance hub because of its stable and sophisticated banking system. The major Australian banks the Commonwealth Bank of Australia, Westpac and ANZ Bank have a whole variety of offers for all starting businesses. Though the tax rates fluctuate Canvas Magazines were covered because it always had a lawyer team to advise them on the rates. The Australian dollar is very stable and Canvas Magazines were not hurt much by the exchange rate fluctuations. At certain points though the weakening of the US dollar affected the operating margins of Canvas Magazines suffered.
Canvas magazine has been a social trend setter across Australia and many other countries. The target market of the magazine is people in the 10-40 age groups. As internet is frequented by this age group Canvas Magazines has evolved as a social trend setter in this age group all over the world. This magazine depicts the eloquent Australian style which then gains followers all over the world. The theme of the magazine is to maintain the uniqueness and also to depict the prevalent exquisite style of the Australian people. The editorial board takes care of the fact that the magazine while depicting the true Australian style does not have any statement which may be foster ill sentiments among other followers. Canvas magazine has acted as an interface between the rest of the world and the Australian society by acting like a platform for exhibiting new style statements followed in Australia. The magazine has a special appeal for brand conscious people because of the variety of branded clothes this magazine exhibits. Therefore, the magazine is targeted to class conscious people rather than low income group. (Keller and Kotler, 2006)
The magazine aptly reflects the multicultural, cosmopolitan and sophisticated nature of Australia. For instance, most Australians find themselves comfortable in t-shirts and foot thongs while others will rather sleep without changing their party wear. The magazine portrays the entire cross section of the Australian mass in a wonderful fashion.
Technology probably played the most important role in Canvas Magazine gaining its current position of prominence. With the growing reach of the internet online magazines have also extended this growth. Nowadays, internet is the answer to all questions and rather than going to a stall and shopping for a magazine people prefer to read it online. This technological development has probably given the biggest impetus to Canvas Magazine’s growth strategy. Previously, fashion magazines were circulated only within the country and therefore its target market was restricted. But Canvas Magazine has a global target market. No matter which country you are living in if you have internet you can follow Canvas Magazine and be updated with the latest trend in Australia. (Daft, 1994)
A major threat that faced Canvas magazine was the chance of being copied. If the magazine was made free and accessible to everyone then there was a huge chance of the fashion statements being copied and then printed in a local magazine without paying any royalty to Canvas magazine. So, this was probably the biggest legal issue that was facing Canvas. Copyright laws could hardly protect their interests as piracy is prevalent on the internet. To counter this Canvas came up with subscription charges. Under this scheme though initially you can access Canvas magazine for free some parts of it will not be accessible without subscribing to the magazine. By implementing this strategy Canvas ensured that anyone who is not subscribed to the magazine cannot view all its contents. (Latest Trends, 2010)
The main issues that face Canvas Magazines are the tax rate fluctuations of Australia. For higher income groups the tax is as high as 47% and therefore this seriously affects the operating margin of the magazine. Moreover, even with paid subscription the copyright issue is not resolved. Anyone who wants to copy a design may just pay the subscription and incorporate it in their magazines. Combating this will be very difficult because of the growing piracy over the internet.
Reference List
Daft, R. L. (1994). Management. New York: The Dryden Publishing.
Keller, K., & Kotler, P. (2006). Marketing Management. New York: Prentice Hall.
Latest Trends. (2010) All About Australia Fashion Careers. Web.
McEwen, J. (2008). About Australia: Fashion. Web.