Ouch: Condé Nast’s Ad Revenue Nose Dives By $1 Billion
By Anna Johnson on October 15th, 2009In more evidence of the crisis gripping the magazine industry, Silicon Alley Reporter reports that Condé Nast has not only closed four magazines and retrenched almost 200 staff, but it’s ad revenues are down by $1 billion this year. Yes, $1 BILLION.
In particular, popular titles such as Vanity Fair, Wired, Architectural Digest and Condé Nast Traveler have lost millions in ad revenue over the past 8 months compared with the same period in 2008:
- Architectural Digest: down $48.4 million (-47 percent)
- Condé Nast Traveler: down $44.5 million (-42 percent)
- Wired: down $18.4 million (-36 percent)
- Vanity Fair: down $37 million (-27 percent)
