This morning’s news included a piece on Conde Nast shuttering 3 big magazine properties. The company lost in excess of $120M last year keeping print properties churning. Magazines have been under web attack for over a decade. Magazines aren’t in the readership business, they’re in the entertainment and enlightenment business. As audio and video production became more common, entertainment and enlightenment moved to the web, albeit watered down.
Conde Nast will get it right. It just needed this kick in the ass. Content experts are content experts. Content poseurs are content poseurs.
The death of radio was predicted and it still reaches 93% of US adults weekly. The end of network TV was also predicted…nope.
Sorry publishers like Conde Nast, Time Inc. and Meredith have bloody noses. But for now at least, the holding company approach has become a little zaftig.