CHART OF THE DAY: Business Magazines Head For The Abyss

button more charts
button chart prev
button chart next

The big business magazines are tanking along with the economy.  McGraw-Hill is trying to dump BusinessWeek while it still can. Earlier, Condé Nast pulled the plug on Portfolio. And Forbes has shed a large portion of its staff this year.

In Q2, magazine ad revenue dropped an average 22% year-over-year, according to the Magazine Publishers of America. The big business mags had it even worse: BusinessWeek was down 30%, Forbes down 35%, and Fortune down 43%. Even the Economist, which has outperformed its peers in recent years, was down 20%. (Subscription revenue and online revenue — the lone source of growth for many publications — is not included in these tallies.)

It’s possible this is just a cyclical market, and that business magazines will somehow stabilise (or at least discover smaller, but still profitable, businesses on the web). But probably not without a lot more downsizing.

Follow the Chart Of The Day on Twitter: www.twitter.com/chartoftheday

Get This Delivered To Your Inbox
You can get this dropped in your inbox every afternoon as The Chart Of The Day. It’s a simple. It’s convenient. It’s free. All we need is your email address (though we’d love your name and state, too, if you’re willing to share it).  Sign up below!

Email

First Name

Last Name

State

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.