The Business of Magazines #4

Discussion in 'Magazines' started by Thread Manager, Sep 14, 2017.

  1. caioherrero

    caioherrero Well-Known Member

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    Wow, that’s sad
     
  2. vogue28

    vogue28 Mod Squad Team Leader

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    What an absolute shame about Porter! I really have enjoyed the magazine since its debut, thought it was modern, ahead of the curve and utterly sophisticated. Yet I cannot deny that standards have slipped and the current Summer 2019 issue with Yara Shahidi feels like a new low.

    Two issues a year? My subscription rate had better decrease for a total of two issues of year... not what I signed up for. They should've done away with The Edit and pumped the money into the print edition, ugh.
     
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  3. Xone

    Xone Well-Known Member

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    Yeah, it's a shame but if you think closely it makes totally sense. It was a little confusing to have first The Edit, then Porter and then changed it to Porter Edit.i Hope they remake print Porter with more pages, more curated to make it special....
     
  4. axiomatic

    axiomatic Well-Known Member

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    I renewed a week or two prior to the annoucement. Hopefully our subscriptions will be based on total issues instead of year
     
  5. axiomatic

    axiomatic Well-Known Member

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    https://nypost.com/2019/05/21/maxim-turns-a-profit-but-revenue-is-still-stumbling/

     
  6. axiomatic

    axiomatic Well-Known Member

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    https://nypost.com/2019/05/22/ex-vogue-staffer-gets-probation-for-stealing-from-top-editor/

     
  7. axiomatic

    axiomatic Well-Known Member

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    ‘Out’ Magazine Chief Phillip Picardi Threatens to Quit in Battle Over Unpaid Writers

    Wonder how much longer the magazine lasts..
     
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  8. Benn98

    Benn98 Well-Known Member

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    I'm really not Picardi's biggest fan, but he's doing a better job at the magazine than whoever was in charge before him. The design is slick and modern, and the content actually well-written.
    I'll also understand the stand he's making right here. As EIC, he's sort of directly responsible for freelancers and the American publishing sector is so small nowadays that his reputation will be tarnished too.

    I don't know why OUT, as well as Attitude and Gay Times, don't sell their ad pages to fashion brands. That will be a quicker way to make money. It's a no-brainer really. They have the staff resources, put them to use (seriously, the Out fashion team styles 2 stories a month??.) Most readers will have the same if not higher disposable income than the Esquire or Harper's reader. Gucci does appear in the current issue of OUT (of course it will be money-hungry Gucci, lol), and Tiffany & Co got the back cover, but the rest are all Pharmaceutical companies selling PrEP, as if that's all we think about 24/7.
    The flip side of course will mean those fashion brands will start interfering with the editorial content as they're currently doing with women's and men's magazines. And that's fine too, because it's not as if these gay magazines have such a unique point of view. Their content is similar to what we find in a Wonderland or the like. And in fact, just last month we've seen Ruth Bell in Dior Beauty by Peter Phillips, which was obviously a paid effort. May as well go at this paid partnership thing full throttle.
     
    #1328 Benn98, May 23, 2019
    Last edited: May 23, 2019
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  9. 8eight

    8eight Well-Known Member

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    I still can't believe he left Anna and Conde to go there. He must regret that...
     
  10. Benn98

    Benn98 Well-Known Member

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    He shouldn't though. For starters, there wasn't really space for him at CN. And this position provided him with a larger platform than TeenVogue. Money issues aside. I mean, if it's a toss-up between being the EIC of a digital/quarterly TeenVogue, or OUT, then OUT wins.
     
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  11. dodencebt

    dodencebt Well-Known Member

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    It's such a shame what's happening with Out, I finally started reading it again under Phillip's direction. And I agree with Benn, selling out fashion related pages and upping that content in general would probably serve the magazine well and provide a steadier stream of income. I really hope the magazine doesn't go down, it's the only one right now that focuses on all LGBTQ+ issues equally, as opposed to shoving down buff naked men down our throats.
     
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  12. honeycombchild

    honeycombchild Well-Known Member

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    Porter’s wording on it below. As a Subscriber previously you get the first two biannuals free.

    “As one of our valued subscribers, we wanted to let you know that we are changing how we publish and distribute PORTER.

    From Spring 2020, PORTER will publish as a global biannual edition with guest editors and limited-edition covers, drawing on the most exciting international photographic talent and a celebrated roster of contributing writers. The Summer Escape issue, publishing in June, will be followed by the new biannual issue in early spring 2020.

    Your paid subscription will therefore end after the Summer Escape issue, which will be delivered to you as normal. We will issue a refund of any remaining balance from your subscription via your original payment method, and direct debits will be cancelled. Please allow 30 days for the refund to reach your account if you originally paid by card or PayPal. Cheques will be sent to the billing address currently linked with your subscription, although they may take a little longer to arrive.

    As a thank you for being a PORTER subscriber, you will be the first to receive complimentary editions of the new biannual in Spring 2020 and Fall 2020. We’ll send the new version of PORTER to the shipping address currently connected to your subscription. If you have any questions, or if you don’t want to receive these complimentary issues, simply email [email protected] and our dedicated team will be in touch.”
     
  13. 8eight

    8eight Well-Known Member

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    The editor US Esquire resigned today.
     
  14. caioherrero

    caioherrero Well-Known Member

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    Jay is out
    Why?
     
  15. axiomatic

    axiomatic Well-Known Member

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    Jay Fielden Out as Editor of Esquire Magazine


     
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  16. MissMagAddict

    MissMagAddict The future is stupid

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    W Magazine Inches Toward Sale With Surface, Sandow, New Operations

    W magazine is on the cusp of getting a new lease on life in media with its acquisition said to be imminent, but what it will look like under new ownership is in question.

    After being on the market for almost a year, one of three titles Condé Nast decided to sell off, a deal fronted by design-centric Surface magazine is said to be close. The price is thought to still be around $8 million, as first reported by WWD, but details are still being negotiated, meaning any terms of a contract could change, including the price. Buyers for Golf Digest and Brides have also been found in recent weeks.

    The shape of W post-Condé Nast is likely to be much different, however, should the deal come to fruition. First, W (founded by the legendary John B. Fairchild as a sister publication to WWD) is expected to be part of an entirely new holding company and operate more as an independent outlet than as a direct subsidiary of Surface. W’s current editor in chief Stefano Tonchi, who’s been leading the magazine since 2010, is expected to continue with the title, possibly in an expanded role that will include leadership of W’s expansion in digital media. Although Surface magazine is on a quarterly print schedule, it’s thought that W will remain on its current print schedule of eight issues a year.

    While W’s full-time editorial staff of roughly 20 is expected to come as part of the deal, there is worry that the purchase will mean more cuts. Some higher profile staffers like Sara Moonves, daughter of former CBS chief executive officer Les Moonves, and contract contributors like Lynn Hirschberg are thought to be negotiating their employment anew with Surface ceo Marc Lotenberg. Meanwhile, Rickie de Sole, W’s fashion director and daughter of industry executive Domenico de Sole, is said to be staying on at Condé in her relatively new position at Vogue. A few other staffers left at the end of last year.

    A Condé spokesman declined to comment and Lotenberg could not be reached.

    Although Surface is the name attached to the purchaser, funds for the acquisition are said to be coming from a small consortium of investors, as Surface does not have the money itself to pay for the acquisition. The magazine just last year got $2 million in a seed funding round from Magna Entertainment, thought to be one party behind the W deal. Magna is a New York holding and investment company owned by Joshua Sason, who was sued in February by the Securities and Exchange Commission for “microcap fraud” that took place between 2012 and 2013, based on Magna’s alleged scheme of obtaining fake promissory notes to short penny stocks. Sandow Media, the publisher behind magazines New Beauty and Interior Design, is another likely investor.

    C Ventures, the media investor run by Adrian Chang who was until recently in the lead to buy W, as first reported by WWD, is no longer a part of any deal. Negotiations for the purchase fell apart for reasons that could not be confirmed.

    But independent operations may be crucial for the survival of W, as Surface ceo Lotenberg does not have a stellar history as a media operator.

    His first media venture, 944 magazine (named for a Florida zip code despite its founding in Arizona), went bankrupt in 2010. Court documents show that the company was over its head in debt and owed more than $10 million to creditors, including his father and scores of staff and freelancers, many of whom were never paid for their work. The company was also sued in local Los Angeles court a dozen times between 2007 and 2009 over accusations including harassment, wrongful termination, discrimination and breach of contract. One of the lawsuits, filed by a small group of 944 employees, was removed to federal court and sought $1.6 million for allegations including gender discrimination, hostile work environment and intentional infliction of emotional distress. That case appears to have been settled out of court.

    The magazine was eventually purchased in 2011 by Sandow. Although Sandow paid $1.3 million for the bankrupt entity and its assets, according to court records, it quickly shut the magazine down.

    While 944 was winding down through bankruptcy, Lotenberg got ceo positions at two New York marketing firms, Gen Art and Wonder, and in 2012 became ceo of Surface. Sandow, led by founder and ceo Adam Sandow, in 2011 purchased Surface and in 2014 it was broken out as Surface Media LLC. In 2017, Sandow made a bigger investment in the title and merged it with Culture + Commerce, an agency it owned. Given Sandow’s involvement with Surface, it seems almost certain that it, too, is behind the deal for W.

    But Surface has gained its own reputation in media circles as an operation with very high turnover (nearly all of its editorial employees left last year and there were other cycles before that) and a difficult workplace culture, purportedly led by Lotenberg. Industry chatter, as well as public workplace reviews online, have singled out the ceo for issues within the relatively small operation.

    Considering the W deal is thought to include most of the magazine’s current staff and Tonchi, a passionate booster of art, fashion and his magazine, here’s hoping he can establish a professional culture of his own as an independent operator.

    source | wwd
     
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  17. SophiaVB

    SophiaVB Well-Known Member

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    That whole deal sounds entirely unsustainable.
     
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  18. lucy92

    lucy92 Mod Squad Team Leader

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    I do not know why NAP just didnt give out Porter to the people that were ordering big ticket items. Wouldn't have made the shipments more expensive.
     
  19. honeycombchild

    honeycombchild Well-Known Member

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    They did, although not with shipments. Top tier customers got free annual subscriptions. They also get sent gift products and such too.
     
  20. axiomatic

    axiomatic Well-Known Member

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    Interesting match..

    https://nypost.com/2019/05/24/tech-investor-backing-bid-to-buy-w-magazine-from-conde-nast/
     

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