Cuts Meet a Culture of Spending at Condé Nast (Dinosaur Media DeathWatch™)

The New York Times ^ | September 27, 2009 | Stephanie Clifford

[abb]

A three-month McKinsey & Company project advising the publisher how to reduce costs is drawing to a close, and several magazines have been told to cut about 25 percent from their budgets. The company’s editors and publishers have already been under pressure to reduce costs this year, as advertising has plunged, and Condé Nast has closed two magazines in 2009, Domino and Condé Nast Portfolio.

But cost-cutting at Condé Nast is not quite like cost-cutting at other publishers. For example, on Oct. 13, the men’s magazine GQ will host a party in Washington to promote its list of powerful capital players, to appear in its November issue. The party is upscale: it will be held at the 701 Restaurant, known for its caviar and live piano music.

That is not the only expense involved. Several editorial employees will travel from New York for the evening. And they received an e-mail message recently reminding them to limit their expenses for the night — to $1,000 a person.

That culture of spending at Condé Nast explains some of the fascination with the place, which incites a mix of envy and scorn among employees at other magazines. Condé Nast’s top editors and publishers have drivers on call, staff members can be reimbursed for $15 a day for lunches they order in, and even freelance writers stay at hotels like the W when they are on assignment.

Those perks would be unremarkable at any investment bank or law firm, at least before the recession. But magazine companies other than Condé Nast have become grim places to work in recent years.

Time Inc. outlined layoffs of 600 employees last October, almost all of which were completed by the end of last year, Dawn Bridges, a spokeswoman for Time Inc., said in an e-mail message.

snip

[abb]

http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=114268
Changing Times: Online Trumps Newspapers

http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=114358
Network Phenom: Little Broadcast Erosion

http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=113899
TV, Agency Vets Leap To Fill Interactive TV Void

[MrEdd]

I think they could fix that, if they just put Obama on the cover some more...

[Eric in the Ozarks]

I used to take Architectural Digest. When they ran their second story about nut case Bill Koch's mansion, that was enough for me. I still get beg letters offering AD for less than the cost of printing it.

[abb]

http://www.philly.com/philly/blogs/attytood/Nabobs_natter_about_the_passing_of_William_Safire_1929-2009.html
William Safire, “nattering nabobs” and the power of words

[GeronL]

Thanks. Another reason I love FR, someone here knows everything.

[abb]

http://www.nytimes.com/2009/09/28/business/media/28genius.html?ref=media
‘Genius Grant’ Allows Reporter to Chase More Crime

http://www.cjr.org/behind_the_news/the_prophet_motive.php?page=all
The Prophet Motive

http://www.miamiherald.com/opinion/other-views/story/1255416.html
Limit anonymity for Internet critics

[abb]

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1004016373
SPECIAL REPORT: Pension Plans the Latest Worry for Publishers

[Kevin J waldroup]

http://www.latimes.com/entertainment/news/la-et-ratings28-2009sep28,0,4400322.story
Strong start to the fall TV season

This is not uprising surprise to it is not me. Cable Networks DeathWatch™)

December 19, 2008 4:00 AM PST
http://news.cnet.com/8301-1035_3-10125962-94.html

SNL Kagan data also indicates that cable penetration of homes passed peaked at 65.5% in 1998. As of yearend 2006, cable subscriptions stood at 65.4 million, or 58.4% of 111.9 million homes passed, according to the data. Due to two recent quarters of declining cable subscriptions, this figure is likely to drop further by the end of 2007, SNL Kagan said.”
http://www.marketingcharts.com/television/snl-kagan-cable-subscription-data-contradicts-fcc-chairman-kevin-martin-2634/

HDTV (High Definition Television)
is here today, and it’s FREE!

See the Public Service Announcement

Don’t be misled…
you don’t have to use a pay service to have “High Definition Television” (HDTV)

http://www.myfreehdtv.org/body.html

According to two recent studies, HDTVs are now in about one-third of all homes, making it increasingly important for pay TV operators to deploy a strong high-definition offering if they wish to retain current customers. And the Consumer Electronics Association predicts that some 27.7 million new HD sets will be sold in 2009.

http://www.multichannel.com/article/CA6620569.html

[abb]

http://www.editorandpublisher.com/eandp/columns/forestwebs_display.jsp?vnu_content_id=1004016532
FORESTWEB Report: Total Newsprint Consumption Reaches Lowest Point, Year-Over-Year

http://www.newspaperdeathwatch.com/
Bailouts and Bankrolls

[abb]

[Mamzelle]

re: I'm aware. A few years ago when I was job hunting I tried everything to get a foot in the door over there but found it virtually impossible. )))

It's very tribal and clique-y, and pays poorly because most who work there are trust fund babies.

[GOPJ]

Who reads these magazines ?

Advertisers are starting to fear it's the "homeless" ... and the well to do who get it at such reduced rates it's almost a throw-away... All sizzle - no steak.

[abb]

http://www.onthemedia.org/transcripts/2009/09/25/01
Newspapers Go To Washington

http://theplumline.whorunsgov.com/political-media/bill-keller-clarifies-times-editor-monitoring-ideological-media-will-focus-on-right-and-left/
Bill Keller Clarifies: Times Editor Monitoring Ideological Media Will Focus On Right And Left

http://www.cleveland.com/schultz/index.ssf/2009/09/web_sites_anonymity_brings_out.html
Web sites’ anonymity brings out the worst in some posters: Connie Schultz

[Lucius Cornelius Sulla]

too bad the conservative NY Post is getting hammered.

[abb]

Yes. This suggests that the phenomenon is more related to shifts in technology than the political bent of the publication.