:: By Courtney Ackerman, Empower MediaMarketing Director of Print Media

Ad rates dropped an average of 30 percent in 2009 and 16 business magazines folded according to MediaFinder. However 2010 will see business publications reinvent and revitalize themselves to deliver value to their readers and advertisers in a 24-7 news cycle. A handful of titles are focusing on editorial, frequency and overall design to reengage readers and advertisers. Here’s an overview of their plans.

• Bloomberg BusinessWeek: Bloomberg purchased BusinessWeek in 2009, giving the title access to 2,600 global journalists and solidifying Bloomberg’s news offering. Bloomberg BusinessWeek is already planning to increase in folio size, use heavier paper stock and offer more stories. A redesign is scheduled to debut in April.

• Fast Company: Fast Company is targeting entrepreneurs and small business operators. The title is focused on frequency, paper quality and rate base and is investing in expanded newsstand distribution, live events and digital resources.

• Forbes: With a focus on the bare necessities, Forbes has moved to publish fewer issues this year, and gone down to a saddle-stitch format for some issues.

• Fortune: Fortune’s redesign focuses less on CEO cover stories and more on stories about the people powering their companies behind the scenes. This should be a welcome focus as the title switches to heavier paper stock and lowers its frequency from 25 issues to 18 issues.

• Harvard Business Review (HBR): On the heels of its first redesign in 10 years, HBR is focusing its marketing efforts geographically. Cincinnati is a pilot city for HBR’s marketing with hosted events in May and radio, TV and mobile campaigns in April. The goal is to engage readers and generate new subscribers as HBR begins publishing 10 times in 2010, down from 11 issues last year.

Business Magazine’s Bright Spot
After a steady decline in 2009 for ad pages, Wired and Fast Company are the first to see gains for 2010 as advertisers are starting to book solid schedules versus month to month buys. Some automotive and tech advertisers are also coming back to print.

iPad as Game Changer
The pending release of the iPad also has the magazine industry optimistic about integrating digital into their offering. It may seem hard to believe that one device could single-handedly improve the future of an entire media category. But it’s important to note that while iPad will be the first of its kind, it will not be the last. A host of devices are certainly already under development to capitalize on Apple’s first to market efforts. Condé Nast will be the first to market with issues on the iPad; Wired is currently working closely with Adobe to launch their tablet version with their June issue.

We will continue to see business magazines adapt as more and more readers are happily getting their content digitally. The strong will get stronger, while other titles test their reinvention and new strategies. All titles will look to extend digital offerings online and across digital devices to engage readers as they follow the content.