I will say that traditional media still has a few lessons to learn - I did not download it, but I understand the Time Magazine app retails for $4.99 - but is only good for a single edition of the magazine. It appears that they intend to roll out a new app for every edition - and I can't imagine anyone paying $4.99 for each edition.
They probably need to figure out an advertising based model, that could be supplemented by a nominal annual app fee.
MLB charges $14.99 for the entire year, and provides updated content daily. I don't know what the subscription cost for a year of Time would be, but they need to come in with a price in that vicinity if they want to make it work.
So you don't feel that it's fair to pay Time Magazines writers and editors to format and write articles for the over-priced toy? Keep it cheap so you can buy all the accessories you need to make it functional?
Wow - the hate runs deep with this one - even if the reading comprehension does not. I never suggested that the folks at Time work for free - but if they want to work at all, they have to re-discover how to make money in this environment. Charging $4.99 per edition will not get it done - imo.Time, and other traditional print media, need something like the ipad to help a sinking industry. They are losing eyeballs to modern technology. This is an opportunity to recapture those eyeballs - and the advertising dollars that flow from that.
Most print media badly misplayed the internet - this is an opportunity for a do-over of sorts. As with any media - content is king, and unique content trumps all. So, when media companies produce unique content - they will be able to charge a premium - but only what the market allows.
I think Time, and others, need to figure out how to monetize viewers of Apps - and specifically how enhanced features might make advertising more palatable. Advertisers are never going away - they are just looking for better returns on their spends.
I have the WSJ app, and for now it is free with my on-line subscription - we'll see how much I like it before I switch my subscription to the ipad app. But, it has 3rd party advertising within the app. It did not feel obtrusive, and was just as easily ignored as it was to click on the advertising. I think this will be the future of print-media on-line - dedicated apps for unique content - on-line access for generic content.
So back to Time - this will be a great lesson in pricing influenced by demand. They will figure it out eventually that to maximize revenues they will need to lower the price to get more purchases - or maybe they won't. Maybe they learn that their content is worth $10 per edition - and they will raise the price accordingly. I suspect it will end up in the $1-2 range per edition.