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Global Media Minds News Release
FOR IMMEDIATE RELEASE
Economic Climate Causes Conde Nast Publishers to Close 4 National Magazines
OCTOBER 12, 2009–PHOENIX, ARIZ –Conde Nast recently announced that they will cease publishing 4 of their 21 publications. Closing publications include: Gourmet, Elegant Bride, Modern Bride and Cookie. Advertising support for the magazines has decreased dramatically in the past year; 8,000 ad pages were said to be lost through the October issues of these four publications.
Gourmet may be the most missed among the magazines, as it was the first U.S. magazine devoted to food and wine. Gourmet will not be gone completely, however; the magazine will be launching a television show, “Gourmet’s Adventures With Ruth,” on PBS this fall.
Cookie, a lifestyle magazine for the modern mother, will also be among the missed Conde Nast titles. The magazine was new, having launched in 2005, but it had already established a circulation of 500,000.
Modern Bride and Elegant Bride were also among the magazines cut. As a result of the cut of these two magazines, Brides magazine will be upgraded to a monthly publication instead of coming out every two months.
The economy is definitely the driving factor in the closing of all of these well-known publications. For example, Gourmet’s ad pages were said to be down 50 percent in the 2nd quarter from the year before, according the Publishers’ Information Bureau.
“It is sad to see magazines die off which have been so much a part of American households,” said president of Global Media Minds, Kristen Orton. “It has also been upsetting to our advertisers and supporters of these publications, but we are working with them to refocus their budgets on the many other magazines which hit similar demographics and readers.”
Despite the closings of these publications, magazine advertising is very much alive. A recent study conducted by MRI showed that 4 out of 5 U.S. adults read magazines, despite the growth of new media options. Also in the past 4 years, action-taking based upon magazine advertising has increased by 10%.
“The dip in the economy has not hindered our media buying; in fact, it has given us an advantage,” Orton said. “We consistently work with hundreds of national and local magazines, are working together with the publishers to come up with attractive, cost-effective opportunities for our clients.”
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Based in Phoenix AZ, Global Media Minds is a full-service advertising agency specializing in creative and media buying for print, television and radio. Global Media Minds also develops cutting-edge websites, E-commerce solutions in addition to developing complete online marketing solutions including search engine marketing, social media, e-mail marketing, article & video syndication and rich-media banner ad development and placement.
