Magazine Industry Continues to Struggle in Weak Economy

by megan ~ February 25, 2009

Originally, the internet was blamed for newspaper and magazine circulations citing steep decreases. 

Publishing groups have pulled publications, and publications such as Rolling Stone have slimmed down their physical size to try and make ends meet.  However, with today’s economy continuing to weaken and fight to hang on, the magazine industry is really starting to feel the pain.

Keith Kelly’s Media Ink column in today’s NY Post is the most recent article showcasing the struggles the magazine industry is continuing to face.  Kelly reveals that many of the Condé Nast titles are down at least 30 percent in 2009, with Portfolio being down a staggering 60 percent and Wired down 57 percent.  Even Vogue and Vanity Fair are down 29 percent and 32 percent respectively. 

Furthermore, last month it was announced that the publishing group with pulling Domino from its family.  The only magazine in the group that is actually showing a rise from over a year ago: Gold World which is up 16.5 percent through its February 23 issue.  According to a rival executive who once worked at Condé Nast quoted in the column, “They are having the worst year of any publisher” and the company’s recent cuts of 5 percent each on expenses and staffing isn’t enough.

Additionally, newsstand single-copy sales are down 11 percent over the past six months with sales falling to 43.4 million as Americans cut back on extras like impulse buys at the checkout amid the continuing recession.  Items such as gossip magazines have become inessential buys for consumers as they feel the pinch of higher gas and food prices.

It seems that one of the only few areas that are seeing an increase are several health-focused magazine including Women’s Health and Health as Americans continue to distract themselves from the shrinking GDP with their expanding waistlines.

Megan Raphael is an account executive at Mediashop Public Relations.  She received a Bachelor of Science degree in Public Relations and International Studies at the University of Miami.