Sad State of The Magazine Business

Just read the news that Bloomberg is buying Business Week see here.

According to the news, Bloomberg is paying $5M in cash plus the severances for 400 people.  Lavishly assuming 3 months severance, at $10K/mo, that's another $12M of costs.  That's $17M of total costs to Bloomberg.

What do they get in return?  The same article suggests that Business Week had a circulation 921,000 readers. So here is the sad fact. Each reader of Business Week is worth less than $20.

That's a very unfortunate number.

Comments

[cem sertoglu]

This also has to do with the type of engagement and strength of the "contract" print media has with their audience. The switching cost are non-existent...

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The same article suggests that Business Week had a circulation 921,000 readers. So here is the sad fact. Each reader of Business Week is worth less than $20.

[FliegendMouse]

Yeah it's a stupid business decision, that's for sure. However, you were a part of Comventures and participated in multiple stupid decisions that eventually got the fund shut down. So I'm not really sure how you feel qualified to point out other people's stupid financial decision when you've done such a bad job yourself.

Seems like the pot calling the kettle black to me.

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[vibramfivefingers22]

There is a problem that how you feel qualified to point out other people's stupid financial decision when you've done such a bad job yourself.It is different to you.

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Is that a very unfortunate number? Thank you for sharing,but......

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Well, this is very unfortunate case for a magazine. This won't make them money if this is the case. Publications must cater a large number of readers so that it can earn. Maybe there is an option for them to make things work. Let us wait what will happen next. But immediate solutions must be taken.

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This is very frustrating. We need to evaluate the kind of material being published and the kind of market we are selling it. Needless to say, it is just a waste of money. Furthermore, there has to be immediate solutions to it. We need to be very careful on the kind of business strategies we are dealing. Maybe it is a lesson learned.

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This is very frustrating. We need to evaluate the kind of material being published and the kind of market we are selling it. Needless to say, it is just a waste of money. Furthermore, there has to be immediate solutions to it. We need to be very careful on the kind of business strategies we are dealing. Maybe it is a lesson learned.

[Spencer Hale]

Printing magazines, much like standard transmissions will most likely become a thing of the past, which is unfortunate.