The Business of Magazines #4

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

  1. caioherrero

    caioherrero Active Member

    Joined:
    Sep 2, 2017
    Messages:
    849
    Likes Received:
    194
    So who’s the new W team? Anyone know?
    I’ve head that the former fashion director is out.
     
  2. Benn98

    Benn98 Well-Known Member

    Joined:
    Aug 6, 2014
    Messages:
    23,101
    Likes Received:
    4,775
    The gist of the story? Expect more Kardashians or celebrities with a really strong social media presence like Ariana Grande. Because they will make it possible for Vogue to land a 6-page Gucci campaign. Kind of like how Joan Crawford's 'cheap' yet popular MGM movies made it possible for Greta Garbo to have her artistic vehicles.

    In the end, this was bound to happen. For many years magazines would land advertisers without even lifting a finger and at times even fend off 'undesirable' brands like Philip Plein, for instance. That's still the case in countries such as China, the Netherlands, and Poland where they're overwhelmed by advertisers.
    Years ago I helped a mate pitch a supplement concept to a newspaper which he ultimately got even though he got screwed over. Anyway, the idea was that this supplement would start off digital-only, and eventually evolve into a weekly print version with the newspaper. And since we were a very small semi-independent team, everyone sort wore different hats at the same time and we needed advertising to cover our overheads. Drumming that up was an absolute nightmare even though we were affiliated with a high-end liberal newspaper. We've had to jump through a crazy amount of hoops, declare all sorts of stats and basically promised them the moon and stars, and in extreme cases even sweeten up the deal with pro-bono coverage BEFORE landing a luxury brand, whereas a certain struggling franchised magazine breezed through it all and even got blue-chip advertisers right to their final issue.
    But now it seems advertisers have since woken up and found that it's way easier to track the reach and ROI of their campaigns on a digital platform than with a magazine, where the only figures you have to your disposal will be vague newsstand sales. I will add that British magazines are aware of that drawback and try to underscore their reach with partnered events and ways to prove their reach beyond newsstand. It is the reason why we can afford to risk 3 unknown models on the cover of a 200-page issue for a month deemed to be 'slow.' American and Australian fashion print media need a wakeup call because the carpet has been pulled underneath them and it's embarrassing to see them stumble like this.


    Magazine Ad Revenue Continues Decline Despite Some Audience Growth

    A few editors had success last year online and on YouTube, but digital ad dollars are very, very slow to appear.

    By Kali Hays on July 22, 2019

    Even with audiences for magazine content still huge, the industry is having a hard time getting in on the massive growth of digital advertising.

    Last year again saw a significant declinein ad revenue for magazine publishers in the U.S. Ad spending in print magazines, including Sundays or inserts, fell by 18 percent year-over-year, according to data compiled by eMarketer, to $8.97 billion in 2018 from $10.94 billion in the previous year. Spend in digital verticals of magazines actually rose by 3.3 percent, to $4.67 billion from $4.52 billion, but obviously not enough to make up the difference and not in line with the double-digit-percent growth in the digital ad market. Combined, advertisers spent 12 percent less with magazines and related content, down to $13.64 billion last year from $15.47 billion the year prior.

    Go back a few years and the drop is even more precipitous. In 2008, ad spend in U.S. print magazines was $20.47 billion, according to eMarketer, plus $2.14 billion to digital verticals and sites, for a total of less than $23 billion. Print spend plunged the following year to around $15 billion — this was the Great Recession — and held around there until 2015. After that, it dropped by $1 billion, then $2 billion for three years straight. All told, print spend has fallen about 33 percent since 2015 and 56 percent since 2008. While digital has grown consistently since 2010 and has actually more than doubled in that time, it’s been incremental at best. By 2022, eMarketer projects that print and digital spend will be about equal, because print will have kept falling, to $5.2 billion, and digital will have only grown to $4.9 billion.

    The annual report from MPA-The Association for Magazine Media on the general state of the magazine industry normally includes a breakdown of ad spend by the 50 largest advertisers — but did not do so this year. Last year the breakdown showed most major companies reducing their spend significantly. A spokeswoman for the group said the research came through a partnership that has ended. The report is sponsored by magazine printer Freeport Press.

    [​IMG]

    Even with continued declines in ad spend — the bulk of revenue for all publishers — the audience for magazine content is still large, although it, too, is shrinking. According to the MPA-AMM report, combined audience (print, digital platforms and video) for the 10 largest magazine brands last year came in at just under 540 million. That is a 7 percent drop from the year before, when total audience came in at 582 million. So it’s down, but still big. And several titles actually saw double-digital audience growth.

    New York Magazine last year averaged monthly audience growth of 8 percent for its magazine and 26 percent on the web, according to MPA-AMM. Condé Nast title Architectural Digest grew an average of 29 percent on the web while Vogue’s audience for video grew an average of 95 percent, while video at Bon Appétit grew 107 percent. At Hearst Magazines, Town & Country averaged monthly web growth of 91 percent and mobile growth of 202 percent, while Harper’s Bazaar grew 18 percent on the web and 104 percent on mobile. In video, Cosmopolitan grew by 155 percent and Good Housekeeping grew by 208 percent, as video is still a relatively new area of focus for both brands.

    Over at New York, the year’s most read stories were an excerpt from Michael Wolff’s “Fire & Fury,” a question-and-answer session with Quincy Jones and the feature story on “Soho grifter” Anna Delvey. Other stories that made it into the year’s top 10 by views were a Q&A between food writer Mark Bittman and Dr. David L. Katz about eating right and an episode ranking of “Black Mirror.” The publisher declined to share specific numbers on each story.

    New editor in chief David Haskell noted that the biggest stories ran across New York’s verticals and coverage areas, but he admitted to a little surprised that the Bittman piece on eating right “found as wide a readership as it did, since there is a lot of diet and eating advice out there.”

    The overarching reader trend at New York, however, was an appetite for “stylishly written long-form features.” Such an appreciation of narrative has so far continued this year, according to Haskell, as has “an appreciation for us taking big swings, being daring.”

    At Conde Nast — now hyper-focused on video, even bringing in new chief executive officer Roger Lynch with a background in TV, while dramatically shrinking its print portfolio (down to nine from a peak of 32) — digital video is making strides. Bon Appétit with 4.1 million YouTube subscribers had 2.3 billion minutes watched in 2018 and has already hit that number this year. Its series “Gourmet Makes” produced nearly all of the magazine’s top 10 most-watched videos. Recipes are unsurprisingly Bon Appétit’s bread and butter, according to editor in chief Adam Rappaport, but that isn’t all there is to the video success.

    “The challenge is riffing on a formula that works, while introducing a new wrinkle each time,” Rappaport said. “So, for instance, we’ll take our editors, who have become stars on YouTube, and highlight their favorite things on a page in the magazine, or invite them onto the podcast, or feature their what-I-had-for-dinner photos on our Instagram feed. On each platform, the treatment is slightly different, but the personality remains the same.”

    Vogue has 5.8 million subscribers on YouTube, but its most watched videos over the last year have been entirely celebrity-driven. Its most viewed video was a “73 Questions” with Kim Kardashian West, which featured her husband Kanye West and her children. It pulled in 34.5 million views alone. Kardashian West getting fitted for the Met Gala (which Condé sponsors and Anna Wintour dictates) was also the subject of Vogue’s second most-watched video with 21.7 million views. Her sister Kylie Jenner also accounted for two of the year’s most-watched videos. One on her Met Gala look got 13.1 million views and another on her “beauty secrets” got 25.5 million views.

    Anna-Lisa Yabsley, Vogue’s digital director, said Vogue content gets an average of 75 million views a month on YouTube and adds an average of 250,000 subscribers a month. Yabsley said the growth is the result of listening to the magazine’s online audience, essentially giving them more of what they engage with. So the Kardashians surely aren’t going anywhere. But she also pushed the magazine’s access.

    “The breadth of talent we feature continues to fuel [our video series’] and audience appetites show no signs of waning,” Yabsley said.

    But it’s Architectural Digest that had more significant growth in video and with its web content overall. Its YouTube subscribers have more than doubled since last year to 1.84 million, with the success of “Open Door,” which tours celebrity homes, but also the launch of “On the Market,” which features high-end non-celebrity real estate for sale. A few of the most successful videos last year were a tour of Jessica Alba’s home (13.7 million views); a tour of a Bel Air mansion with a car elevator (10.1 million views); a tour of YouTube star David Dobrik’s home (8.9 million views), and a look at Kris Jenner’s home (5 million views).

    With non-video content, design-focused pieces have done well and average time spent on-site is up 21 percent year-over-year. AD’s Instagram following has also grown 50 percent year-over-year to 4.4 million followers. Editor in chief Amy Astley pointed to web stories like “City Parks of the Future” and several focused on architecture as the most successful of the year, along with a few listicles and “how to’s” featured on AD’s new sister site Clever. She did not provide specific traffic numbers.

    “Our round-ups do exceptionally well and are aimed to appeal to both design novices and enthusiasts alike,” Astley said. “In the case of the Clever articles, a lot of this is oriented toward a more utility-driven editorial that help our readers consider more aspects of their loving space.”

    As for video, the strategy is pretty simple. “People love home tours that are grand and wildly expensive,” Astley said.

    The focus on digital is purportedly paying off for Condé. A company spokesman insisted that the publisher is bucking the larger industry trend of losses in print revenue far outstripping gains in digital, claiming that digital and video ad revenue are actually making up the difference of continued losses in print. However, he declined to provide specifics.

    Meanwhile at Hearst Magazines, the publisher ended up with the most titles seeing top 10 growth, according to MPA-AMM. Again, Town & Country grew its web audience 91 percent and its mobile audience 202 percent, with the most read stories being those on “The Crown,” late Sen. John McCain, the Royal Wedding and Queen Elizabeth.

    Digital director Elizabeth Angell did not share specific numbers, but said coverage of the British royals, and also surprisingly some “in-depth” coverage of the funerals of former President George H.W. Bush and Sen. John McCain proved popular.

    “We’ve had similar successes in 2019 with both the death of Gloria Vanderbilt and the arrest of Jeffrey Epstein,” Angell said. “There is also a whole different group of people who come to T&C for advice on what to buy, where to travel and what to drink…and we have used data to inform on our huge growth in lifestyle content.

    Harper’s Bazaar also had growth on the web and on mobile, with its total brand audience increasing by 53 percent, according to MPA-AMM. And similar to T&C, royals coverage helped a lot. Joyann King, executive editor of the web site, said the “majority” of Bazaar’s stories that got more than 500,000 views had to do with the British royals, including coverage of the royal wedding, which drove 7.25 million views last year. The site’s top story was on the reveal of the new royal family portraits, which garnered 2.8 million views alone.

    She also noted that Bazaar’s growing opinion section focused on politics has been doing well, driving five million views last year, along with coverage of women’s issues.

    “Our reader is just as interested in what boots to buy for fall as they are about whether or not their right for an abortion is going to be stripped away,” King said.

    Even with successes of some magazines with new content and strategies, the market is still difficult given the rapid decline of its place in the ad market. It’s been usurped and then some by Google and Facebook, which get almost all of their revenue from advertising, last year ate up 60 percent of the entire digital ad market, equal to about $65 billion in revenue.

    [​IMG]

    Even with continued growth in digital advertising — it overtook print and television last year and eMarketer projects it to grow another 20 percent this year, hitting $129.34 billion in the U.S. — magazines are having trouble getting a piece of it. EMarketer projects digital ad revenue will only grow 2.1 percent for magazines this year. Meanwhile, print ad revenue this year is projected to drop another 17 percent.

    WWD
     
    modela and Bertrando3 like this.
  3. caioherrero

    caioherrero Active Member

    Joined:
    Sep 2, 2017
    Messages:
    849
    Likes Received:
    194
    It seens that Yolanda Sacristan was fired from Harpers Bazaar Spain just 2 years after her appointment.

    Immacula Jimenez is the new editor in chief, she was the creative and fashion director of Elle Spain
     
  4. Xone

    Xone Well-Known Member

    Joined:
    Sep 1, 2004
    Messages:
    1,635
    Likes Received:
    43
    Yolanda announced she was leaving HB because she has a new project...
     
  5. caioherrero

    caioherrero Active Member

    Joined:
    Sep 2, 2017
    Messages:
    849
    Likes Received:
    194
    Really? What? Where she annunced?
     
  6. Xone

    Xone Well-Known Member

    Joined:
    Sep 1, 2004
    Messages:
    1,635
    Likes Received:
    43
    On her instagram account a few days ago...
     
  7. SophiaVB

    SophiaVB Active Member

    Joined:
    Feb 1, 2018
    Messages:
    128
    Likes Received:
    97
    Have to say that I think if anything AW is driving Vogue into the ground so this is an odd take & is kinda sickening how much her pay is in this media climate.

    Why Anna Wintour Is (Still) One of Condé Nast’s Most Powerful Assets

     
    Handbag Queen likes this.
  8. TZ001

    TZ001 Well-Known Member

    Joined:
    Aug 24, 2018
    Messages:
    482
    Likes Received:
    419
    Bertrando3 and caioherrero like this.
  9. A.D.C.

    A.D.C. Well-Known Member

    Joined:
    Oct 25, 2005
    Messages:
    2,430
    Likes Received:
    229
    I hate these type of opinion pieces. They’re just clickbait with very little insider information. I could write the same article myself. It’s just regurgitated fluff.
     
    Benn98 and Miss Dalloway like this.
  10. vogue28

    vogue28 Mod Squad Team Leader

    Joined:
    Jan 9, 2008
    Messages:
    22,896
    Likes Received:
    1,539
    Ironic that a piece like that is published after Edward Enninful pulled a major journalistic coup by having HRH The Duchess of Sussex guest-edit British Vogue's most important issue of the year. Is American Vogue's September offering about to fall short in terms of press coverage?
     
    modela likes this.
  11. 8eight

    8eight Well-Known Member

    Joined:
    Oct 27, 2008
    Messages:
    1,189
    Likes Received:
    135
    Kenya Hunt is leaving ELLE UK to go to Grazia UK as fashion director.
     
  12. axiomatic

    axiomatic Active Member

    Joined:
    Feb 1, 2018
    Messages:
    276
    Likes Received:
    194
    Condé Nast Hits Back Hard at Stefano Tonchi’s W Magazine Lawsuit

    CN accusing Tonchi of trying to extort $1 million and would've closed W if the Surface deal didn't go through
     
    Benn98 likes this.
  13. axiomatic

    axiomatic Active Member

    Joined:
    Feb 1, 2018
    Messages:
    276
    Likes Received:
    194
    BDG’s Nylon Pulls Fashionista EIC for Editorial Director Role

    Nylon back in print next year
     
  14. MON

    MON Well-Known Member

    Joined:
    Jun 20, 2009
    Messages:
    10,466
    Likes Received:
    1,120
    Good for Condé not backing out. Seems like they’re really pissed at Tonchi does not care for the negative publicity this brings.

    Though “faithless servant” is both shady and an awful statement to characterize an employee.
     
    Benn98 likes this.
  15. Benn98

    Benn98 Well-Known Member

    Joined:
    Aug 6, 2014
    Messages:
    23,101
    Likes Received:
    4,775
    .....he actually interfered “in order to achieve benefits for himself.”

    Meaning he tried to make sure the new buyer would naturally take him on as EIC?
    CN doesn't have the best rapport, but good on them for telling their side of the story.

    WWD must be in 7th heaven over this messy mudslinging.
     
  16. MON

    MON Well-Known Member

    Joined:
    Jun 20, 2009
    Messages:
    10,466
    Likes Received:
    1,120
    Seems likely. Maybe EIC and non diminution of salary & benefits (which is normal tbh)

    However, any publisher with an eye and good common sense would clearly back out of a deal that includes Tonchi. You don’t need perfect vision logic to be able to see what he’s done to W.

    Also, rarely would a publisher who purchases a magazine allow the incumbent EIC to remain. New management, new vision. If such was what he was bargaining for, it was a wrong bargaining chip. It effectively deprives management of its prerogative to appoint whomsoever they feel would best represent Surface’s vision. Clearly, no one would be interested. This could work IF you’re a marketable title (Vogue, Bazaar, Elle), but if not, sit down and be grateful.

    Mad props for trying though.





    Question: does this mean that W Magazine Korea is also now under Surface? If not, it’s odd that W Korea is still being published under Condé Nast International / Korea, while US is under Surface.
     
    #1456 MON, Aug 14, 2019 at 4:17 AM
    Last edited: Aug 14, 2019 at 4:23 AM
  17. Benn98

    Benn98 Well-Known Member

    Joined:
    Aug 6, 2014
    Messages:
    23,101
    Likes Received:
    4,775
    As far as I know, they're separate entities. Kind of like the Brants who may own US Interview, but not German Interview. So CN only sold the American license of W, not the Korean one.
     
    GivenchyAddict likes this.
  18. Faith Akiyama

    Joined:
    Sep 15, 2005
    Messages:
    23,354
    Likes Received:
    21
    W Korea (As well as Vogue/Allure Korea) is published under the Doosan group, so this sale shouldn't affect them.
     
    axiomatic likes this.
  19. caioherrero

    caioherrero Active Member

    Joined:
    Sep 2, 2017
    Messages:
    849
    Likes Received:
    194
    Anna has more power than ever

    The new Conde Nast global structure.

    https://l.instagram.com/?u=https://...neMLwiuvR3kgZjr6yw3PuXJftfuvWbh74L_xLGYjRCrKM

    Global Content Functions: Anna Wintour, U.S. Artistic Director, Editor-in-Chief of Vogue U.S. and Global Content Advisor, will continue in her role as U.S. Artistic Director and Editor-in-Chief of Vogue U.S., and will add Global Content Advisor and oversight of Vogue International to her responsibilities. In her expanded role, Wintour will advise the executive leadership team on global content opportunities and act as a resource to editors-in-chief and editorial talent worldwide.
     
  20. MON

    MON Well-Known Member

    Joined:
    Jun 20, 2009
    Messages:
    10,466
    Likes Received:
    1,120
    But but but she’s leaving
     
    caioherrero likes this.

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice
monitoring_string = "058526dd2635cb6818386bfd373b82a4"