Condé Nast has closed four magazines, and cut almost 200 employees this week. There’s a simple reason for that: We’re in the middle of a massive advertising upheaval that’s crushing the magazine industry.
Newsweek, using data from the Publishers Information Bureau, estimates that Condé’s ad revenue dropped by $1 billion this year, with popular titles like Vanity Fair, Wired, Architectural Digest and Condé Nast traveller losing out big time.
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