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The September issues, arguably the make or break for the entire year, are just around the corner and the bleak numbers of advertising pages are down - way down:
The biggest losers: Vogue down from 607 pages to 427 a - 30 % decrease, W with 165 and a -47% decrease , Vanity Fair at 213, down - 24.5% and Teen Vogue, with 136 ad pages, down - 17%.
What does this imply for the magazine world? Well for one thing, the uphill battle facing the dwindling publication world just got harder. It seems that the theory of increased ad pages due to lower rates and more favorable page selections and layouts did not happen. With this in mind, Condé Nast has definitely felt the fire- literally, putting to bed a slew of its magazines over the year (Men’s vogue down to twice a year, Portfolio, and Domino)
But despite the attempt to save itself, by embracing the online world- it seems that that too is not working as well as Si and the boys would like. Today, alone, came the mention that Men.Style.com will shutter, and the plan for Vogue to launch its own has been put on halt. (This year alone, Condé Nast closed teen sites Flip.com, and YM.com)
On top of all of this, Condé Nast in a memo this week announced it’s hiring of consultant group McKinsey & Company, in hopes to breathe new life into the once powerful publication empire.
Other buzz worthy signs of the hard times ? Hiring freezes, a slew of layoffs, changes at the cafeteria, and missing faces at the Paris couture shows (a la Wintour )
All of this sounds like a ticking time bomb to me.
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