From the Editor: Some Perspective on the New Year
• The Week—growing its subscription base from 100,000 to 500,000 and counting; online subscriptions (to the print magazine) doubling in two years.
It is a difficult time indeed, and significant losses in print revenue have been, unfortunately, more common than not. Even publishers who always seem to do everything right have been flat this year—e.g., Consumer Reports—exemplifying that "flat is the new up."
But, like most businesses, publishers have a way of adapting. Facing such strain is bringing out the best in many of us (though unfortunately the worst in some). Publishing is not dying; it's just changing.
Samir Husni, aka Mr. Magazine, wrote in his guest column for Publishing Executive earlier this year: "For every magazine that shut its doors in 2008, at least 20 new magazines were born. Magazines die, and magazines are born. That is the cycle of life."
That is not carte blanche to keep conducting business as usual. But it is, perhaps, some well-needed perspective. Call me a publishing cheerleader if you want, but I think we have a bright future ahead of us.
Happy holidays … and best wishes for a happy and profitable New Year!