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'Newsweek' to Cut 500,000 From Rate Base (Dinosaur Media DeathWatchâ„¢)
AdvertisingAge ^
| November 1 2007
| Nat Ives
Posted on 11/01/2007 3:24:51 PM PDT by Milhous
Circulation Guarantee to Advertisers Dropped to 2.6M
NEW YORK (AdAge.com) -- Newsweek's new management plans to chop its guaranteed paid circulation by 500,000 copies, dropping its promise to advertisers down to 2.6 million paying readers from 3.1 million, those with knowledge of the move said today.
Newsweek cited rising postal and other costs in explaining its decision to cut its rate base.
The 16% cutback is one of the largest among a series at big magazines over the last few years, a sweep that has seen ambitions reduced at diverse titles including Playboy, Reader's Digest, Star, Woman's Day and BusinessWeek.
Race against Time
But Newsweek's move is particularly notable amid its battle against Time, which slashed its own rate base to 3.25 million from 4 million at the beginning of the year. It's also the first big development since Newsweek shook up its executive suite on Tuesday, when it named a longtime Viacom cable executive, Thomas E. Ascheim, to take over as CEO and promoted Gregory Osberg from publisher to president.
Newsweek cited rising postal and other costs in explaining its decision, according to a media buyer who has been briefed on the plan. "Obviously people are also migrating online for news and information," said the buyer. "It's hard to maintain current subscribers and attract new subscribers."
"That said, newsweekly brands are still powerful, given that they provide credible, fact-based journalism," the buyer added. "What will change is the delivery of this content."
Newsweek has reported average paid circulation of 3.14 million copies during the first half of 2007, down a slim 0.1% from the first half of 2006, according to the Audit Bureau of Circulations. Ad pages from January through the issue dated Oct. 29 this year have fallen 6.4% from the equivalent period in 2006, according to the Media Industry Newsletter.
A spokeswoman for Newsweek was unable to immediately confirm the news or provide comment.
TOPICS: Business/Economy; News/Current Events
KEYWORDS: dbm; haha; liberalmedia; msmwoes
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Yet another hit for the Washington Post Company, arguably the financially strongest among its socialist mass media peers (CBS, NBC, NYT, and TWX).
1
posted on
11/01/2007 3:24:53 PM PDT
by
Milhous
To: Milhous
2
posted on
11/01/2007 3:25:55 PM PDT
by
Petronski
(Here we go, Steelers. Here we go!)
To: abb; PajamaTruthMafia; knews_hound; Grampa Dave; martin_fierro; Liz; norwaypinesavage; Mo1; onyx; ..
3
posted on
11/01/2007 3:26:15 PM PDT
by
Milhous
(Gn 22:17 your descendants shall take possession of the gates of their enemies)
To: Milhous
I have not seen your partner in crime as of late, ABB
4
posted on
11/01/2007 3:27:32 PM PDT
by
pissant
(Duncan Hunter: Warrior, Statesman, Conservative)
To: Milhous
"newsweekly brands are still powerful, given that they provide credible, fact-based journalism"
LOL. That's very far from a 'given' -- in fact Newsweak is a good example of a biased leftist hack-fest lacking credibility, and unworthy of being regarded as an objective new magazine. Compared to Mother Jones it may seem like Newsweak is respectable, but they are full of plenty of hack pieces spouting leftist propaganda.
5
posted on
11/01/2007 3:28:18 PM PDT
by
Enchante
(Democrat terror-fighting motto: "BLEAT - CHEAT - RETREAT - DEFEAT")
To: Milhous
Propaganda getting harder to sell.
6
posted on
11/01/2007 3:28:25 PM PDT
by
Lexington Green
(There ain't no news in the news no more.)
To: Milhous
...throwing a few more deck chairs off the Titanic...
7
posted on
11/01/2007 3:28:39 PM PDT
by
Tall_Texan
(No Third Term For Bill Clinton!)
To: Milhous
Newsweek's new management plans to chop its guaranteed paid circulation by 500,000 copies, dropping its promise to advertisers down to 2.6 million paying readers from 3.1 million, those with knowledge of the move said today.
Unfortunate choice of words.
To: Milhous
“newsweekly brands are still powerful, given that they provide credible, fact-based journalism,”
ROFL!
9
posted on
11/01/2007 3:32:44 PM PDT
by
dynachrome
(Immigration without assimilation means the death of this nation~Captainpaintball)
To: Milhous
That said, newsweekly brands are still powerful, given that they provide credible, fact-based journalism, I hope he was rolling on the floor laughing when he said that. Liberal agenda driven journalism is more like it.
10
posted on
11/01/2007 3:33:06 PM PDT
by
Reagan is King
(Every immigrant who comes here should be required within five years to learn English or leave.)
To: pissant; abb
abb posted the first bit of bad news for the Washington Post Company earlier today:
11
posted on
11/01/2007 3:33:35 PM PDT
by
Milhous
(Gn 22:17 your descendants shall take possession of the gates of their enemies)
To: Milhous
“A spokeswoman for Newsweek was unable to immediately provide comment...”
Until s/he reads tomorrow morning’s ‘DNC Talking Points.’ :)
12
posted on
11/01/2007 3:35:42 PM PDT
by
Diana in Wisconsin
(Save The Earth. It's The Only Planet With Chocolate.)
Comment #13 Removed by Moderator
To: Milhous; abb; Borges
Good to see. You guys monitor the death of the media, and Borges monitors anyone else who kicks the bucket. LOL
14
posted on
11/01/2007 3:38:31 PM PDT
by
pissant
(Duncan Hunter: Warrior, Statesman, Conservative)
To: Milhous
What a warm, fuzzy schadenfreudian feeling this post brought me. Thanks for posting.
15
posted on
11/01/2007 3:38:54 PM PDT
by
eureka!
(Is power so important to the Democrats that they are willing to betray our country? Sadly, yes.)
To: Diana in Wisconsin
Or, possibly was cleaning out her desk due to being laid off.
16
posted on
11/01/2007 3:43:13 PM PDT
by
Newtoidaho
(Liberals have an answer for everything: It's GLOBAL WARMING!!!!!!!!)
To: martin_fierro
Willy Wonka the axe murderer?
What movie is that from?
17
posted on
11/01/2007 3:44:25 PM PDT
by
Disambiguator
(Political Correctness is criminal insanity writ large.)
To: Milhous
It’s good news to be sure. They are becoming a marginalized publication.
18
posted on
11/01/2007 3:45:58 PM PDT
by
AD from SpringBay
(We have the government we allow and deserve.)
To: Milhous
credible, fact-based journalismHaHaHaHa
To: Enchante
""newsweekly brands are still powerful, given that they provide credible, fact-based journalism" "Newsweek was so fact-based it lied about having 17% more readers than it did.
yitbos
20
posted on
11/01/2007 3:50:51 PM PDT
by
bruinbirdman
("Those who control language control minds." -- Ayn Rand)
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