Publishers Forming 'Magazine iTunes'

Condé Nast, Time, McGraw-Hill cut jobs as ad dollars slow

(NEWSER) - The economic downturn is taking its toll on magazines, forcing layoffs and budget cuts as publications face fewer advertising dollars, Women’s Wear Daily reports; the trouble is compounded as production costs soar while readers turn to the Internet. Magazine ad revenue fell 5% in the first three quarters of 2008, to $18.4 billion, with an 8.8% drop in the third quarter. More»

Google trying to drum up support among publishers, say insiders

(NEWSER) - Google is considering launching a digital newsstand that would cater to users of smartphones and tablets that run Android, setting the stage for a competition with Apple for publishers’ support. Apple’s iTunes already sells a number of popular periodicals; Google has reportedly held talks with Time Inc., Condé Nast, and other publishers about its plans for the e-newsstand, which would house apps from media companies who offer Android-friendly versions of their publications, the Wall Street Journal reports. Google has promised to take a smaller cut from publishers than the 30% slice Apple takes, say insiders. More»

Magazine publisher could lose $200 million this year, industry sources say

(NEWSER) - Condé Nast will shut down iconic foodie magazine Gourmet as well as newer title Cookie and Brides offshoots Modern Bride and Elegant Bride, CEO Charles Townsend announced today. Hundreds of jobs will be lost in the company’s biggest single day of closings, the New York Post reports. The publishing powerhouse, experiencing a steep decline in ad revenue, made the decision following a three-month cost analysis. More»

(NEWSER) - Condé Nast’s once-ballyhooed Portfolio magazine will cease publishing immediately, staffers were told this morning. “The five main categories of advertising a publication like ours depends on are really in trouble,” Condé Nast’s group president told the New York Times. The magazine launched in April 2007, and has witnessed a historic 60.9% plunge in ad sales over its short existence. More»