The Business of Magazines

[Bertrando3]

So you’re Conde Nast, you’ve spent decades ensuring you’re one of the biggest names in print magazines. You did this by knowing your audiences and providing them with some degree of excellence.

The internet offers enormous opportunity – both for success and failure. It’s a different world where new rules apply, and Conde Nast are deluding themselves if they think anything about their time in print guarantees them an equally golden future online.

Everything on the internet has a limited lifespan – we’re not even that far into its history, and redundant social media sites are starting to pile up like layers of archaeology. If a business really wants to stick around, it would be prudent to lift their head and take a longer view of things. Waves of opportunity will always be coming towards you, but it’s important to never mistake those moments as any sort of permanence.

So your entire brand was based around print magazines. You have a heritage brand like Vogue, with decades of content to call on, unlike all those companies starting out fresh on the internet. You can reduce your product to its logo, and people immediately recognise the value of those five letters, thanks to the constant reinforcement of a million pages selling impossible dreams.

So you stand on the doorway between your past and your future… and you decide to trash your irreplaceable heritage products which have lined your pockets and brought you to this point of arrogance, a point where you think a good business decision means abandoning what sets you apart from every other hustler online.

You look at social media and believe this is the best way to target emerging consumers. You look at this landscape and see that it’s full of low-effort input where everyone allows themselves to be pushed around by whatever the current ‘mood’ is.

You tailor your output to match the landscape. You feel success is bound to come your way. You’re saving so much money because you no longer need ‘excellence’ as a value. You can repeat this year after year, because you believe you’ll never need those investments again.

But you make the mistake of thinking this landscape has any relation to real life. You ignore the mass of real-world adults in favour of teenage-level noise on the internet.

In addition, if you live by social media, you die by social media. And if you manage to escape cancellation, you won’t avoid the inevitable cycle that people quickly grow up and out of things they were once intensely attached to. Also, looming in the future as a trend, it’s possible to get sick of the internet entirely (but you’ll not hear that from anyone overly invested in it).

So when it comes to Conde Nast, will its hubris run out before its money does? Every company pays good money to corporate bullshitters who’ll tell them what they want to hear about their chances of success online, when that depends a great deal more on sheer luck.

And when your luck runs out, you’ll have no investments left, you’ve run your reputation into the ground, and you ignored your regulars in favour of people who’ll ditch you in a heartbeat…

If someone from Vogue were to write an article about succeeding in life, they would roll out all the clichés about self-worth, investing in yourself, treasuring the things that make you unique, and never lowering your standards. Time to take their own advice.

You're AMAZING !!! I thought I was listening to a great discourse a la Martin Luther King ahahahaha and when you finished I felt I wanted to stand up and applause ahahahhaha thank you for this brilliant text that totally encapsulates what we all think about this situation.

 

[vogue28]

I'm just reading on someone's Instagram that Vogue Australia has stopped international subscriptions. Is anyone aware of any other editions of Vogue doing this?

 

[MModa]

Where are the November 2023 issues of US Harper's Bazaar and Elle? Why are they so late?

 

[tigerrouge]

Where are the November 2023 issues of US Harper's Bazaar and Elle? Why are they so late?

I think the timing is lengthened when their print calendar includes combined issues e.g. the release of the Nov issue is slightly later, so that in turn, the Dec/Jan issue can be released at a more conducive date over the holidays.

They're free to post their cover images ten days before anyone can get hold of the actual issue, but they don't seem to do what Conde Nast does.

 

[Rigida]

Condé Nast Set to Lay Off 5 Percent of Workforce​

The publisher of titles like Vogue and Vanity Fair announced in a note sent to employees on Tuesday that it would lay off around 270 employees following a restructuring. (Instagram/@voguemagazine)
By

• YOLA MZIZI

01 November 2023

The publisher of titles like Vogue and Vanity Fair announced in a note sent to employees on Tuesday that it would lay off 5 percent of its workforce — around 270 employees, primarily in its video division, Condé Nast Entertainment — following a restructuring.
Condé Nast Entertainment is best known for producing franchises such as Vogue’s 73 Questions and Architectural Digest’s celebrity home tours. Those videos primarily air on YouTube, but the company has faced increased competition from short-form video sites such as TikTok and YouTube Shorts. While Condé Nast’s short-form video channels have helped drive audience growth, the publisher has struggled to monetise the engagement.
”While we can’t control platform algorithms or how AI may change search traffic, we believe our long-term success will be determined by growing the many areas that we can control, including subscriptions and e-commerce, where we directly own the relationship with our audience,” Roger Lynch, Conde Nast’s chief executive, said in statement.
Lynch also said that in the coming months, Condé Nast would be introducing additional cost-reduction measures including in real estate.

Seeing a decline in print advertising revenue, a number of publications have sought to diversify their revenue streams over the past decade, with titles such as GQ and Vogue investing in video content and launching membership programmes.

source: BoF

 

[Rigida]

Magazines Bet on Memberships​

Elle UK launched its first reader membership programme on Thursday, part of a broader initiative at Hearst UK to monetise its brands.

Elle UK's new membership programme, Elle Collective, is aimed at forging closer relationships with its readership while simultaneously creating a new revenue stream for the brand. (Elle UK)

By

• TAMISON O'CONNOR

05 October 2023
BoF PROFESSIONAL

Elle UK wants to invite readers into its club.
On Thursday, the Hearst-owned British glossy launched a membership programme called Elle Collective, aimed at forging closer relationships with its readership while simultaneously creating a new revenue stream for the brand.
For a fee of £149 ($181) a year, members will have access to exclusive content via a members-only site and app, special events, and discounts or early access to products and experiences like exhibitions on top of their standard print subscription. Founding members who sign up within the first month of launch will receive a discounted membership rate of £125 ($152) and the magazine’s beauty advent calendar, which retails for £149.
The idea is to give readers a taste of what it’s like to be an Elle editor, the magazine’s editor-in-chief Kenya Hunt said.

“The world of fashion often seems so impenetrable and insular. For those of us who grew up in places that were far removed from the fashion capitals, you would follow it all from afar and have no idea how to access it; you would just read it and dream of it,” she said. “The beautiful thing about working as an editor right now is that we’re all participating in this shift, where we’re seeing those ideas really being flipped on their head.”
It’s part of a broader strategic initiative at Hearst UK to monetise its brands in innovative ways that feel relevant yet differentiated in a content-saturated world — following in the footsteps of rival publishing giant Condé Nast, which launched Vogue Club, a membership proposition around its flagship luxury brand, in 2019. (Vogue’s programme similarly offers fans exclusive content and access to events and offerings in a tiered pricing model, starting at $300 a year.)
Elle is the third Hearst UK-run title to expand into membership products: in 2021, Men’s Health and Women’s Health debuted health and fitness-focused programmes. There are plans to replicate similar models at other titles in the company portfolio in the future, said David Robinson, Hearst UK’s chief customer officer. Down the line, it could open up new commercial opportunities with advertisers too.
“You’ve got customers who come back more regularly, that consume more regularly, that open and engage with your content at a higher rate than a subscriber or someone who’s just signed up to a newsletter. All of those metrics point to good success for Men’s and Women’s Health,” he said. (Hearst UK declined to share revenue figures for the company and its titles.)

The Search for New Revenue Streams​

The emergence of these membership models comes as print magazines continue their slow decline — digital advertising revenue is set to overtake print at consumer magazines this year, according to consulting firm PwC — and publishers look for new ways to diversify revenue beyond advertising and foster reader loyalty.
“Business is really tough right now for these legacy titles,” said Amy Odell, a New York-based journalist and author of Anna: The Biography. “The ad dollars are going elsewhere. A brand has a marketing budget; if they’re giving a lot of that marketing budget to influencers, there’s going to be less of the pie for magazines.”
The Hearst UK’s parent, New York-based Hearst Magazines, laid off a number of editorial employees in the US earlier this year. “As we continue to produce the highest-quality content across all platforms, we made strategic decisions that position the business for long-term growth,” a Hearst Magazines spokesperson said in a statement to BoF.
Hunt took over as editor-in-chief of Elle UK in March 2022, with a vision to grow the title’s revenues and reach by broadening the diversity of the readers it speaks to and more consciously interrogating the broader questions and debates in the zeitgeist. She hopes Elle Collective will be another vehicle to bring this vision to life.

With her team, Hunt has set about curating a programme that is an “extension of stories that we already have going up on our site or the magazine; conversations that we’re having, we’ll be opening those up to our readers to join us,” she said. “This just adds an extra layer to it and makes it feel even more three dimensional in a sense.”
The initial events roster includes a “School of Makeup” workshop with Chanel Beauty, a live discussion with Olympic gold medalist Caster Semenya, and access to discounts on jewellery brands like Aligheri and Otiumberg. There are also plans to host more intimate dinners and talks with writers, designers, creatives and entrepreneurs featured on the pages of the magazine.
An added benefit to programmes like this is that it gives editorial teams a chance to get closer to their readership and learn more about what they want. But events that the magazine will host along with the technology Hearst is developing will also provide an opportunity for readers to connect with one another, Hunt said.
“That is one of the most compelling parts of being in a community, particularly during a moment like this when we are seeing a bit of a loneliness epidemic,” she said. “It’s very much in the spirit and the values of Elle to foster that sense of solidarity among women in our communities.”

Source: BoF

 

[Bertrando3]

Linda Evangelista and Marc Jacobs talk about Fashion and their friendship and much more ! Lovely interview by the way, Linda feels so happy and comfortable with herself.

 

[MModa]

Linda Evangelista and Marc Jacobs talk about Fashion and their friendship and much more ! Lovely interview by the way, Linda feels so happy and comfortable with herself.

The way she speaks is so graceful. Loved every second.

 

[Kerg]

Just receive an email from Vogue France: "can you tell us why did you unsubscribe?"...
Obviously, they still do not understand !!!!!
Well guys: you're following not leading, you're woke, you lost any sign of personality, you 're so amateur, you're so boring and predictive, you lost every part of originality / edgy / rock 'n' roll / sexy attitude... I don't want to read a magazine made by trainees.
And the most important: YOU DON'T REPRESENT FASHION ANYMORE... Am I clear ???

 

[Lucien112]

Karlie Kloss is acquiring i-D magazine. It's official!

Karlie Kloss Is Acquiring i-D Magazine

 

[helmutnotdead]

lol fashion is a circus

 

[MModa]

Karlie Kloss is acquiring i-D magazine. It's official!

Karlie Kloss Is Acquiring i-D Magazine

As long as the magazine will continue to be published, I am all for it!

 

[Bertrando3]

Karlie Kloss is acquiring i-D magazine. It's official!

Karlie Kloss Is Acquiring i-D Magazine

She already bought W ahaha she will be THE ONE who builds the magazine industry once again ahaha.

 

[MModa]

She already bought W ahaha she will be THE ONE who builds the magazine industry once again ahaha.

W magazine is pretty good. Hopefully, she will build a great magazine industry.

 

[HodanChloe]

I'm sure the Kushners don't have an agenda buying up all these magazines. Nothing to see here.

 

[blueorchid]

Just the same agenda as any other billionaire trying to create a media-empire. Big deal. I suppose the flaw in this conspiracy theory is that someone creating a true media empire wouldn't be buying up fashion publications that have been circling the drain for, oh, over a decade.

 

[thenewclassic]

Nylon will return to print

The magazine will debut its new iteration in April 2024.

NYLON lovers new and old rejoice: we’re getting back in the print business.

Next year, NYLON will be re-launching the physical magazine for the first time since 2017. Our new inaugural issue will be out in 2024 as a mix of everything you loved about the old NYLON alongside some new and exciting updates.

The relaunch will coincide with NYLON’s 25th anniversary; with Coachella also turning 25 in 2024, what better time to celebrate than with our yearly Music Issue? The bi-annual print magazine will debut in April to coincide with the festival and our annual NYLON House party in the desert, with a second issue to come later in the year.

Here’s what to expect: a revival of beloved print franchises, original reported stories, great fashion, and your favorite global music artists, all with an emphasis on new and emerging culture. The magazine itself will be available for purchase on newsstands and online come spring.

Get excited, and we’ll see you soon!

NYLON Is Relaunching Print

The magazine will debut its new iteration in April 2024.

www.nylon.com

 

[GivenchyAddict]

Michele Montagne is closing her office. End of an era but not surprising. :/

 

[WinstonH20]

In a recent interview with BoF, Gabriella Karefa-Johnson revealed she has resigned from Vogue.

 

[Pooky Lee]

Reshuffle in Sight for Chinese Fashion Publishing​

Vogue China is on the hunt for a new deputy editor, and Hearst Magazines terminated its license agreement for Cosmopolitan and Esquire in China.

SHANGHAI — Change is in sight for the fashion publishing business in China.

Condé Nast on Wednesday shot down speculation about whether Vogue China‘s editorial director Margaret Zhang will leave the publication after her contract expires next March.

A recent listing on the Chinese hiring platform Liepin, which quickly began to circulate on the social media platform Xiaohongshu, showed that Vogue China is hiring a deputy editor.

Responsibilities of the position include “assisting the editor in chief in overseeing the editorial team,” supporting marketing and sales initiatives and overseeing branded special projects.

“As the deputy editor at Vogue China, you will be the driving force behind the magazine’s features content, working closely with a talented team of journalists and editors,” wrote the job description.

“In this pivotal role within our senior leadership team, you will not only shape the voice and tone of our features but also play a crucial part in advancing Vogue’s global cultural initiatives,” the post continued.

The deputy editor position at Vogue China, which essentially oversees the day-to-day operations of the magazine, is not dissimilar to the role of head of editorial content, which has been given to the heads of all other directly operated international editions of Vogue under the singular vision of Anna Wintour, Condé Nast global chief content officer and Vogue editor in chief.

Wintour has solidified her dominance over the company’s editorial operations over the last few years. Most recently, Chioma Nnadi was named British Vogue’s head of editorial content, taking over responsibilities from current editor in chief Edward Enninful, who will be taking on the new position of global creative and cultural adviser at Vogue and will also become an editorial adviser at British Vogue.

Vogue China is the last remaining international Vogue edition operated directly under Condé Nast to have an editor in chief title besides Wintour herself. However, in the title’s masthead, the Australian-Chinese Zhang is listed as editorial director. In China, the role of editor in chief at Vogue China by law is reserved for the magazine’s local publishing partner, China Pictorial.
According to multiple industry sources, Zhang’s contract will expire next spring.

Zhang’s tenure at Vogue China has been controversial. She was publicly called out by Huasheng Media founder Chuxuan Feng on Weibo for being disrespectful to the Chinese market, and her business skills have been questioned on social media as several covers have gone unsponsored under her watch.

According to industry insiders, a Vogue China cover, while in theory not for sale, can fetch at least a 3 million renminbi, or $428,000, in sponsorship from top luxury brands. Having no one paying for a cover is extremely uncommon in the highly commercialized Chinese fashion magazine business.

In a statement sent to WWD, Condé Nast confirmed the hiring of a deputy editor, who will report to Zhang, and said the move “underscores the company’s commitment to the title and to Zhang.”

That said, Condé Nast was unable to confirm whether the deputy editor would later become head of editorial content at Vogue China, a move that has happened across all other directly operated international editions.

Apart from the hiring plan, Vogue China is preparing for the inaugural China edition of the Vogue Forces of Fashion conference. Wintour is visiting the country for the first time in more than 10 years and will be in Shanghai on Thursday to host the event.

The lineup for the event includes executives and designers at brands like Vivienne Westwood, Salvatore Ferragamo, Courrèges, Jason Wu and Proenza Schouler.

Vogue China isn’t the only publication that got people talking this week. On Wednesday, Hearst Magazines announced it had terminated its license agreement for Cosmopolitan and Esquire in China, effective immediately.

In a statement sent to WWD, the legacy media company said “We are currently discussing the relaunch of these brands with interested parties in this important market.”

The Chinese edition of Esquire was founded in 1996, under a license agreement with Trends Group, a Beijing-based media company that started in 1993 as Trends Magazine, the first local fashion publication founded by two former travel reporters, Liu Jiang and Wu Hong.

In 1998, Trends signed a license agreement for Cosmopolitan to launch the title in China, where media titles are only allowed to be operated by Chinese companies.

In China, foreign titles must obtain a publishing permit to legally publish content in China. Both Esquire and Cosmopolitan’s permits are issued by the Ministry of Culture and Tourism.

Apart from the Trends Group partnership, Hearst Magazines China was formed in 2011 after the acquisition of Hachette China. The Shanghai-based company operates titles such as Elle China, Super Elle, Elle Men and Elle Décor.

In 1997, Trends Group set up the advertising firm Beijing Shi Zhi Shang Advertising Co. to manage the commercial side of the magazine business, with Trends Group, Beijing Meng Si Tong Consulting Service Ltd., Hearst, and IDG as major shareholders.

According to Chinese corporate data provider Tianyancha, Hearst holds a 20 percent stake in Shi Zhi Shang.

In the 2010s, Trends Group grew to become one of the largest fashion publications in China with 17 titles — including Harper’s Bazaar and Men’s Health — under its belt, according to local media reports at the time.

After Liu’s sudden death in 2019, shareholders wrestled for control of the media empire. In 2022, Trends Magazines Co. Ltd, a business entity that owns five titles including Cosmopolitan and Esquire, declared its independence as a “wholly state-owned enterprise” and withdrew advertising rights from Shi Zhi Shang.

In an internal letter that Trends Magazines distributed to employees, which was widely circulated online, Shi Zhi Shang is accused of “not paying a substantial amount of the advertising income to Trends Magazines for many years.”

Soon after, Shi Zhi Shang struck back with a public announcement that said the company still held exclusive advertising rights for Cosmopolitan and Esquire.

But it was unveiled in a notice issued by Shi Zhi Shang Wednesday that the company stopped operating Cosmopolitan and Esquire’s ”main brand business” in July 2022.

According to industry sources, Shi Zhi Shang still holds the licensing rights to magazines such as V Magazine, which launched its Chinese edition this March, and Harper’s Bazaar, which launched its Chinese edition in 2001.

At the time of publishing, members of both Cosmopolitan and Esquire’s editorial teams confirmed to WWD that the high-level changes have yet to affect daily operations.