
As surprising as Goldman Sachs posting a profit for Q1 is the fact that any magazine was able to see a little revenue come their way. Isn't this the death of print we're dealing with here? But as Jeff Bercovici reminds us, out of the 246 titles tracked by the Publishers Information Bureau, only 15 managed to keep out of the red. And what were some of those mags that posted the highest profit?
OK! (which has undergone major staff overhaul in the past couple months after firing Kent Brownridge and his lackies), The Advocate, Hallmark, Sports Illustrated Kids, and National Journal. Jeff's reaction was that we needed "to launch a weekly news magazine for hippie children," although that still doesn't explain the inexplicable success of OK!, especially since their new model is to be just like People magazine…which didn't turn a profit this quarter.
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Uh, no. The piece is not about mags that posted a profit, it's about mags that saw an increase in advertising. Not the same thing. OK is losing money faster than nearly any other magazine out there. And many magazines (like People) are making a profit even if their ads fell in the quarter. People's a huge money maker. How can you pretend to be a media site if you can't even understand something this basic?
I think the only magazines that will continue to do well will be highly targeted niche magazines with a low overhead and a loyal readership. Generic magazines may be in SERIOUS trouble….
Ralph DeLuca
Madison, NJ