Hearst Magazine President Cathie Black sees light at the end of the tunnel. Too bad it’s still a year away.
She was on Bloomberg, and said, “Three, maybe four of our magazines are up, meaning in pages and revenue, in our November and December issues. What I want to believe… is that the worst is behind us.” By the end of 2010, she sees conditions returning to normal.
Hearst needs the bounce back. It’s suffered dramatic page drops for every one of its magazines in the first half of 2009 compared to the first half of 2008. A few notable titles:
- Redbook: -7.9%
- Cosmopolitan: -19.9%
- O, The Oprah Magazine: -29.1%
- Town & Country: -42.9%
- Veranda: -45.1%