More cuts at Condé Nast: The company is shuttering shopping/interior design magazine Domino, it announced today.
“This decision to cease publication of the magazine and its website is driven entirely by the economy,” says Condé CEO Charles Townsend, in a statement. “Although readership and advertising response was encouraging in the early years, we have concluded that this economic market will not support our business expectations.”
Domino’s ad pages dropped 4% last year, according to the Magazine Publishers of America. That’s actually better than the industry average 12% drop. But worse, more recent stats, courtesy MediaWeek: “This year through February, Domino’s ad pages tumbled 51 per cent to 22 per cent, per the Mediaweek Monitor.”
Domino’s Web presence is tiny: Just 145,000 monthly U.S. unique visitors, according to Compete.