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Condé Nast: An Uncertain Future

Posted on Wednesday, October 30, 2019 at 2:21 AM

In the news: An October 28 NYMag.com piece takes a close look at where things stand at the magazine publishing giant, and where it might go in the future.

This week, Reeves Wiedeman of NYMag.com published a longform piece on the current state of things at Condé Nast. He talks shop with editor and artistic director Anna Wintour, who acknowledges that the company has faced difficult times and a lot of upheaval in recent years but expresses optimism about the future. Wiedeman sums up the current state of things thusly: "It's a company that lost as much in 2017 as it made in profit in 2003. It has two dozen brands, which used to be called 'magazines,' nine of which still have print editions in the U.S." Wiedeman discusses how Wintour has made her mark on the company, sometimes stirring up controversy in the process.

Wiedeman also examines leadership under the Newhouse family and CEO Roger Lynch. "Wondering how much the Newhouses still love the magazines keeps some Condé staffers up at night," he reports. Despite rumors that the company will go up for sale, the Newhouses insist that they remain dedicated to the company and they will not be selling it. Read more here.

Also Notable

Folio:'s Annual Salary Survey

Last week, Greg Dool reported on Folio:'s annual salary survey. The bottom line, he writes: "Overall compensation levels remained fairly consistent year-over-year for publishers and marketing directors, while salespeople at the account-executive level reported an overall decline in median base salary, particularly at consumer-facing publications." Also notable, the survey revealed that female marketing directors, account executives, and publishers continue to earn less than their male counterparts ($0.78 on the dollar for female publishers, says Dool). Read more here.

Publishers on TikTok

Some publishers are examining TikTok, a social media app that that features short videos. Options for publishers are limited at this point, however, so for now they are just experimenting. "Currently, there is no mechanism for creators or publishers to directly monetize on TikTok, such as with sharing ad revenue, but all three publishers are hopeful there will be one day," says Deanna Ting of Digiday.com. Among those publishers using TikTok are Vice, Buzzfeed, and Hearst Magazines. Read more here.

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