Magazine publisher Condé Nast said it won’t turn to pay walls to help deflect its 2009 $1 billion loss in ad revenue, despite the fact that one of its magazines, The New Yorker, currently hides its article archives behind a pay wall.
At the Bloomberg BusinessWeek 2010 Media Summit, Condé Nast’s vice president for business development, Julie Michalowski, bashed the idea of pay walls, (Fishbowl NY reports):
All of a sudden walling off our content and saying you can’t have it, I don’t think that’s the right strategy.
What we can continue to do is to build digital relationships so that we can have a multi-channel relationship with our consumers that includes print and includes other ways that they want to access us.
One of these “other ways” is Apple’s iPad, which is slated to come out later this year. Condé Nast has been preparing for the launch by recreating magazines including GQ, Vanity Fair, and Wired, in hopes that the new form of publication can boost alternate revenue streams.
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