Most people today have plenty of work to do: they don't need more chores, especially administrative ones, from the technical/professional society that is supposed to be serving them. This is most common reason why specialist publications fail: because they are small, the specialists themselves are expected to produce them and they simply don't have the time.
We realized this many years ago and have developed a system that allows us to get the creative input from conference chairs and other senior society members without making them do the work.
This is ideal for everyone. Senior members feel a sense of ownership of the publication and can shape its content without the burden of dealing with production issues: plus they get clear credit for their work through Editorial and Advisory Board acknowledgements. Ordinary members get professionally produced publications specifically tailored to their interests, as guaged by their representatives.
And the society knows that they can count on the articles flowing in week after month after year. This is not just for one specialist area, but for all of them.