Business-to-business (B2B) print magazines have fallen on tough times. While many publishers realize they have to be online in order to survive, they have been slow to take the digital plunge as they struggle to figure out a viable online strategy.

In the meantime, ad spending and pages continue to decline and publishers are plagued with operational cost-cutting measures.

According to ZenithOptimedia, B2B magazine ad spending fell 6.0% in 2008, and will continue to drop an additional 5.0% in 2009.

American Business Media’s (ABM’s) Business Information Network reported B2B ad pages were down 9.63% in 2008—and 2009 is not looking any better.

In April 2009, ABM reported B2B ad pages had declined 27% and ad revenues had fallen 21.2% in January compared with the same period last year.

Publishers have been forced to cut costs as they struggle with falling revenues. They have been unable to overcome the gap between print and online advertising rates and cannot figure out how to remain profitable within the free-content model of the Internet. Many have explored such measures as reorganizations, consolidating vendors, downsizing, changing paper and even shuttering titles.

According to MediaFinder, 120 B2B magazines folded in 2008 and 30 more titles were closed in Q1 2009, including one online publication.

On the other hand, during Q1 25 new titles launched, including 12 online publications and three digital editions.

Most publishers are starting to offer some type of online content.

In November 2008, ABM surveyed B2B media companies about which types of content they offered and found 95% used online newsletters, 87% offered downloads and 81% provided online directories.

Some leading B2B media companies are in the process of updating their digital strategies even further.

In 2008, for example, Advertising Age began offering visitors to its site information in a variety of formats, including white papers, Webinars, podcasts, blogs and streaming video. So far, the efforts have been successful.

According to MIN’s B2B, Advertising Age reported a 141.54% increase in August 2008 ad page sales and a more than 159% gain in revenues compared with August 2007. The B2B advertising category, meanwhile, was down over 7% year to date as of August 2008.

While smart publishers strive to crack the online code, there are other media avenues left to be explored. Many mobile platforms, for instance, allow users to access content anywhere at any time. Whether it is via the mobile Web or specific applications for smartphones, publishers have to figure out how to reach busy executives who demand information on the go.

Mobile may prove easier for traditional media publishers than have other transitions online. Many mobile users have shown that they are willing to pay for content. They have been shelling out cash for ringtones, SMS, games and Internet usage for years. If publishers can give them content, services and an experience they find valuable, it may open up new revenue streams and be the next step in staying relevant in today’s new media landscape.

Print editions will likely never disappear, but they may not stay the core revenue model for successful publishers.

Audiences are becoming even more fragmented and publishers must create editorial strategies to engage their readers at different touchpoints. But as more media platforms are introduced, and at a faster pace, audiences might not stick around for traditional media companies to catch up.

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