Some needed good news from the magazine publishing industry: As newsstand sales fell and circulation remained flat through the end of 2012, the latest data from GfK MRI's Survey of the American Consumer, which tracks print and digital magazine audiences, shows that overall readership among adults in the U.S. continued to grow between Spring 2012 and Spring 2013 while digital readership nearly doubled.
Let’s review what the year 2013 hath wrought so far in the media industry. Reader’s Digest, staggering under $1.2 billion in debt, has filed for bankruptcy for the second time in four years. Rolling Stone owner Jann Wenner managed to stave off a bankruptcy filing of his own by refinancing $200 million of debt under spartan new terms.
And in the biggest news of all, Time Inc. is negotiating to spin off most of its magazines into a new company to be controlled by Meredith Corp. Held back from the deal will be Time magazine, Fortune and Sports Illustrated; Meredith
Apple CEO Tim Cook says tech innovation is moving from PCs to tablets and smartphones. Slowly, magazine publishing is following.
Speaking at a Goldman Sachs conference in San Francisco, Cook said there’s a “sea change” taking place in the PC industry as development shifts from PCs to mobile devices. “But we’re in the early innings of this game,” he added.
Not too early for magazine publishers to start shifting resources toward their tablet strategies. A new study from NPD Group found that more than one-third of consumers are transitioning some of their content consumption from PCs to tablets and smartphones.
Talks to sell Whole Living to OpenGate Capital and Jack Kliger collapsed at the 11th hour — pushing Martha Stewart Living Omnimedia to shutter the publication. Staffers were given the sad news yesterday afternoon.
As talks concerning the $2.5 million sale to OpenGate were cratering, Martha Stewart was seen partying at Art Basel in Miami on Wednesday night.
“The business was losing too much cash and needed a lot more to operate it as a going concern,” said Andrew Nikou, CEO of OpenGate, which owns TV Guide.
Magazines’ newsstand sales may be struggling, but there’s a bright spot when it comes to digital readership. Today, GfK MRI released its fall 2012 Survey of the American Consumer, which tracks print and digital magazine readership, and found that magazine readership had increased by 1.6 percent (or nearly 20 million people) to 1.2 billion people since last spring. That was helped by a significant bump in digital consumption: Readership of magazines' digital editions jumped 47 percent, or 4.4 million people, to more than 13.5 million.
Simon Dumenco has a question: would you rather own a magazine, or a digital startup? He notes that some magazines are making real money these days, including Marie Claire, even as most digital startups fail. Old Media isn’t sexy, he says, but “a lot of magazines continue to be not only damn good businesses, but are doing better than ever.”
I don’t know about the better-than-ever thing: I’d need to see some numbers before I was persuaded on that front.
As this is the Publishing Executive annual tips and tricks issue I thought it might be instructive to take a quick review and see how we are faring in the media wars of the 21st century. Are there any trends worth acknowledging? And if so, what can we deduce from the results that are meaningful to your career?
TV Guide Magazine and Sandra Lee Inc., are proud to announce the launch of a new series of special-interest magazines and tablet editions, Sandra Lee, which will focus on all aspects of living well – from cooking and entertaining to fashion and style. Emmy-award winning multi-media personality, Sandra Lee, will serve as the publication's editor-in-chief
Thumbing through printed television listings is a fading household pastime, but TV Guide’s digital business is hoping to start a new habit with a mobile app that makes it simple for people to track their favorite shows and discover new ones.
TV Guide Mobile, introduced this month, allows users to find and — with one click — watch shows, chat and share with friends, discover new shows, and keep up with their favorite actors. I
Mary G. Berner has been named President & CEO, MPA , the Association of Magazine Media, it was announced today by Michael A. Clinton, Chairman of the MPA Board of Directors, and President, Marketing & Publishing Director, Hearst Magazines. Berner’s appointment becomes effective Sept. 17.