Condé Nast Closing Domino Magazine, Web Site

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.

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

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