Mag Spotlight: The Source

Dave Mays originally wanted to be Jann Wenner, but now he wants to be Martha Stewart.

Mays, the founder and CEO of The Source, the self-described "Magazine of Hip-Hop Culture and Politics," that originally envisioned launching "the Rolling Stone for the hip-hop generation" (Rolling Stone was founded by Wenner in the 1960s).

In many ways, The Source has accomplished that. But in more recent years, Mays has turned to the domestic diva as a model for his company.

Not that he wants to end up in prison. But he hopes to emulate Stewart's empire, where her magazine has become much more than a magazine. "She's got a trusted brand," he said. "Her logo tells people 'that this product is for me.'"

In addition to publishing a magazine each month, under Mays' guidance, The Source has become a minor empire: producing records, syndicating radio programming, and currently putting the final touches on the seventh annual Source awards (airing November 30th on BET). Mays has definitive plans for growth, including potentially producing TV programming and even a radio network.

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"Last year, we went on the air almost for free," he said of last year's arrangement with BET. "The ratings were huge."

Mays is particularly proud of the broadcast's use of "cutting edge" product placement, where hosts chatted with each other using Boost mobile phones, and the nominees for Athlete of the Year appeared as images from EA Sports video games. "You have to do it in a way that commands respect," he said.

As for the magazine, The Source was started by Mays as a newsletter back in 1989 when he was hosting a hip-hop radio show at Harvard. At that time, it was difficult to find a ton of stations playing any rap music, or magazines covering the culture. "Fans were craving information on their favorite artists," he said. "But there was no outlet for hip hop at the time. There was so little hip-hop information out there."

Now, a decade and a half later, the magazine is thriving, although still under many peoples' radar. Media buyers who are not tuned into hip-hop may be surprised at The Source's size, and its content. The magazine is second only to Maxim in male readers ages 18-24. Circulation is 450,000, and the total audience exceeds 6.4 million readers.

"A lot of people still say, 'oh that's that rap magazine," Mays said. "They don't recognize the accomplishment."

Content-wise, The Source defies the perception that young men don't want to read serious articles, instead requiring short blurbs and pictures to keep their attention. Despite the fact that the magazine's median age is 24, according to Fall 2004 MRI data, the magazine regularly tackles serious issues, such as a recent piece on of racial profiling among Arab Americans.

Of course, the magazine does lots of profiles of hip-hop stars; with a particular point of view (the magazine has famously taken Eminem to task). This month's issue provides an update on Ja Rule, while predicting that the next big hip-hop scene is burgeoning in Washington D.C.

The editorial format appears to be working. According to Mays, The Source is among the leaders in average minutes read, at a whopping 55 minutes per issue. Couple that with the fact that 70 percent of the magazine's issues are sold at the newsstand, and it's clear that the magazine's young fans are devouring each month's issue.

On the advertising front, things are good, but could be better. In the last two to three years, "there has absolutely been an awakening on Madison Avenue to how influential and permanent hip-hop is," Mays said.

However, the title has taken a major hit in ad pages this year, down 14 percent through October, yet Mays reports that new advertisers like Pontiac are making dedicated efforts to target this audience. Fashion, shoes, and entertainment marketers (like video games and DVDs) maintain a regular presence.

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