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Entries in Newsweek (5)

Sunday
Dec232012

“Newsweek” Unveils Last Print Cover

Newsweek via Twitter(NEW YORK) -- The last print issue of Newsweek magazine will hit newsstands on Monday morning, but the publication unveiled their last print cover online on Sunday morning.

The cover was posted online with a black and white photograph of their office building in New York City and printed #LastPrintIssue near the lower half of the cover.

In October, Newsweek announced they would be shutting their print production down due to the loss of print advertising sales.

Copyright 2012 ABC News Radio

Friday
Oct192012

Magazines May Follow "Newsweek's" Lead in Shuttering Print Version

Daniel Acker/Bloomberg via Getty Images(NEW YORK) -- Though 79-year-old Newsweek announced on Thursday it will no longer offer a paper magazine, print is not dead -- at least not yet.

Michael Corty, analyst with investment firm Morningstar, said the news was not surprising to him as the most "obsolete" of print publications are news weekly magazines.

"It's really hard to to stay current, given everything that's online," Corty said.

Tina Brown, editor-in-chief and founder of The Newsweek Daily Beast Company, announced on Thursday that Newsweek will transition into an "all-digital format in early 2013."

Newsweek and The Daily Beast, an online news site that launched in 2008, merged in 2010.

Newsweek
is the first national news magazine to announce it is moving to the digital space.  The company's circulation has plunged in the past decade.  Newsweek's total circulation was 3,134,046 in 2000, according to the Audit Bureau of Circulatoins.  In 2007, it was 3,128,391.

For the first half of 2012, its circulation was 1,527,157, compared with competitor Time magazine, which had 3,276,822.

When asked if Time could follow Newsweek's fate, Time's managing editor Richard Stengel said the magazine was the "centerpiece of the brand," which is on "every platform."

However, Stengel continued to tell MSNBC's Morning Joe that the print magazine "is the most expensive single thing... to chop down trees, and put ink on paper and then put it on a truck and deliver it to your house."

Michael Learmonth, digital editor with Advertising Age, said publishers often hold onto their print magazines as an "anchor product" that creates a halo-effect for the rest of the brand.

"Print will no longer be the main profit driver of anybody's media empire, but it can remain a pretty prestigious calling card," he said.

Quad Graphics, Newsweek's printer since the 1970s with plants in New York, Wisconsin and California, learned Thursday that it would no longer print the magazine's issues.

"Over the years, print volumes have steadily declined as the title has struggled to remain competitive," the company said in a statement.  "Newsweek is not a significant piece of our overall business, and losing this work will have a negligible financial impact on our company and will not result in any loss of jobs."

The company still prints Bloomberg BusinessWeek, Time, People, Sports Illustrated, National Geographic, Vogue, GQ, Architectural Digest and O Magazine.

Learmonth said for Newsweek to survive with a digital, subscription-based version only, its content will have to be good enough that people will choose it over abundant readily-available free content available.

"This is a problem every publisher is facing," he said.  "It is very tough to compete with 'free' if your product is not significantly better, and your audience decides on what's better."

As opposed to news publications, specialized feature magazines are able to publish stories that are not time-sensitive and can enjoy a longer shelf life.

The U.S. magazine with the largest circulation has been AARP The Magazine for decades, with a circulation of 22,528,478 for the first six months of 2012, according to the Audit Bureau of Circulations.  That magazine is mailed to every AARP member.  The magazine is included with membership in the group.

After the AARP Bulletin, following far behind are Game Informer magazine (with 8,169,524), Better Homes and Gardens (7,617,038) and Reader's Digest (5,577,717).

Here are the circulation figures for six news-related magazines during the first six months of 2012, according to the Audit Bureau of Circulations:

  • Time: 3,276,822
  • Newsweek: 1,527,157
  • New Yorker: 1,043,792
  • Bloomberg Businessweek: 993,267
  • Forbes: 923,848
  • The Economist: 847,313

Copyright 2012 ABC News Radio

Thursday
Oct182012

"Newsweek" to End Print Publication, Convert to All-Digital Format

Daniel Acker/Bloomberg via Getty Images(NEW YORK) -- Nearly 80 years after its first issue hit the stands, Newsweek announced on Thursday it will be terminating its print publication by the end of the year.

The news magazine said it will instead convert to an all-digital format in early 2013 that will be named Newsweek Global.

In an article in Thursday's The Daily Beast, Newsweek editor-in-chief Tina Brown and Baba Shetty, CEO of The Newsweek Daily Beast Company, explained the decision: "Our business has been increasingly affected by the challenging print advertising environment, while Newsweek’s online and e-reader content has built a rapidly growing audience through the Apple, Kindle, Zinio and Nook stores as well as on The Daily Beast."

"Exiting print is an extremely difficult moment for all of us who love the romance of print and the unique weekly camaraderie of those hectic hours before the close on Friday night.  But as we head for the 80th anniversary of Newsweek next year we must sustain the journalism that gives the magazine its purpose -- and embrace the all-digital future," they said.

The last print edition of Newsweek in the U.S. will be the Dec. 31 issue.  

Brown and Shetty said they expect the transition to cause "staff reductions and the streamlining of our editorial and business operations both here in the U.S. and internationally."

Copyright 2012 ABC News Radio

Wednesday
Mar212012

Tina Brown: Newsweek/Daily Beast Isn’t ‘Making Money Yet’

Joe Raedle/Getty Images(NEW YORK) -- There were many skeptics when the 79-year-old news magazine Newsweek merged with the upstart website The Daily Beast in 2010 under Tina Brown's leadership.  Could two media outlets, both loosing money, be combined into a financially sound operation?

In a recent interview with ABC's Nightline, Brown, who is editor-in-chief of the joint venture, said it is well on it’s way to success and pushed back hard against published reports that the Newsweek/Daily Beast Company suffered $30 million in losses last year, calling such reports "excessive.”

“We are certainly not losing that amount, but we aren’t making money yet and we won’t make money for another couple of years but we will as long as we can build the brand back up again,” Brown told Nightline anchor Cynthia McFadden.

Newsweek was loosing tens of millions of dollars annually when investor Sidney Harmon stepped in and bought it from the Washington Post for $1 in August 2010.  A few months later, Harmon talked with Brown and her business partner at The Daily Beast, Barry Diller, about forming a single entity.

Over the past year, Brown has repeatedly said this is a rebuilding time for Newsweek and that it will take a while to redefine the brand’s image and reposition it in the marketplace. 

She admitted that this past year has been “very difficult” because it “was all about just stopping the thing from crashing into the floor.”  During this past year, newsstand sales were up a healthy 15 percent, but the all important ad pages fell by almost 17 percent.

Brown is widely seen as one of the best editors of her generation, increasing sales at Vanity Fair when she was its editor in the ’90s by a staggering 600 percent.  She went on to redesign The New Yorker.

Asked how far along she feels she is in transforming the operation, Brown paused.

“I think we are sort of 40 percent there,” she told McFadden.  “It seems to me that we have stopped Newsweek from failing and we are now on our way back up.”

Watch the full story on Nightline Wednesday at 11:35 p.m. ET/PT

Copyright 2012 ABC News Radio

Sunday
Mar062011

Following ‘Daily Beast’ Merger, Overhauled ‘Newsweek’ Revealed

Joe Raedle/Getty Images(WASHINGTON) -– Tina Brown revealed the first look at the newly redesigned Newsweek magazine Sunday on ABC’s This Week with Christiane Amanpour.

The new cover features United States Secretary of State Hillary Clinton in the magazine's special edition, "150 Women Who Shake the World."

Brown, who previously captained Vanity Fair and the New Yorker magazines, took over the flailing news-weekly in November when it merged with her website, The Daily Beast, which launched in October 2008. Brown is now the editor in chief of both the Daily Beast website and the new Newsweek.

Newsweek, the 77-year-old magazine that fought neck and neck for decades with Time magazine for dominance in the once-lucrative news-weekly magazine market, has struggled financially in recent years along with many other once-dominant publications.

Last May, the magazine's longtime owner, the Washington Post Company, put it up for sale. 92-year-old mogul and philanthropist Sidney Harman bought Newsweek and lured Brown to the top spot.

Although Brown is one of the most highly respected magazine editors in the world, her legendary 35-year career has not been without the occasional disappointment, such as the much-heralded but short-lived Talk magazine.

Breathing new life into Newsweek will be perhaps her greatest challenge. 

Copyright 2011 ABC News Radio







ABC News Radio