Gourmet Magazine, Modern Bride and Others Bow to Online Pressure
Jessica Dicker of CNN Money wrote today that Gourmet Magazine after 70 years of publication will be shut down despite over 1 million subscribers. In addition to Gourmet, parenting magazine Cookie and two wedding magazines, Elegant Bride and Modern Bride will also be getting the axe.
“The magazine industry is in a difficult position generally speaking, it’s losing revenue to online advertising and it’s a tough business right now,” said Richard Dorfman, managing director of Richard Alan Inc., a financial advisory and investment company focusing on the media industry.
This is futher evidence that online advertising is indeed hiting conventional media hard where it hurts.
