In “The Sun Sets On BusinessWeek, Forbes, And Fortune,” 24/7 Wall Street’s Douglas McIntyre says those three magazines “have very few options to become profitable as 2009 progresses.”
Here’s how Douglas breaks it down:
- Founded in 1929
- Advertising pages fell 16% in 2008
- Ad pages are down 38% this year through the end of April
- Has more than 220 editorial, support, and management personnel
- A website with less traffic than TheStreet.com, which had advertising sales of only $30 million in 2008
- Founded in 1930
- Advertising pages were nearly flat in 2008. It has lost 38% of its pages this year.
- Advertising pages dropped 68% in the most recent issue
- Fortune.com is part of CNNMoney which had 4.9 million unique visitors in March and 61 million pageviews. Fortune’s annual online revenue is unlikely to be more than $40 million
- There are over 60 people on the “editorial bio” section of the Fortune website
- Current estimates peg Fortune’s loss for 2009 at $7 million to $8 million.
- Founded in 1917
- Forbes got an investment from Elevation Partners in August of 2006, which was, by the estimate of The New York Times, between $250 million and $300 million for a 40% stake.
- Ad pages at Forbes were down 17% last year and are down 19% year-to-date.
- Revenue from the Forbes online business is between $70 million and $80 million, but is not growing.