Conde Nast has made several cost cutting initiatives during 2009, including shedding staff and publications. This was mainly a result of advertising revenue declining by nearly a third since last year - losing a total of 8,359 pages across all publications.
Recall, Coy Paper reported the closure of Gourmet, Modern Bridge, Elegant Bridge, and Cookie. The worst hit of the surviving magazines includes Architectural Digest – down almost 50%; “W” down 46%; Traveler down 41%. On the brighter side, Glamour increased over 6.5%.
Meredith Publishing appears to be doing the best because of its mass-market advertisers. Note, Conde Nast appeals mainly to luxury advertisers.
As reported in an earlier Coy Paper release, 3Q2009 advertising pages fell an average of 27.3%.
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