According to The NYPost, the moves are effective Jan. 1, and will cause a dip in revenue even as manufacturing costs are reduced.
That revenue shortfall will be partly offset if Time Inc. is successful in its latest quest to publish print titles for a number of digital companies. Said CEO Rich Battista, “We are engaged in conversations with several pure-play digital companies and exploring creating print magazines for their brands.”
As to the cutbacks, Time magazine is taking the biggest hit by slashing its circulation by one-third — from 3 million to 2 million per issue. Its frequency will stay at 44 issues per year. People en Español will slash its circulation to 500,000 from 540,000, and roll back to nine issues per year in 2018 — two fewer than its current schedule. It has also been reported that Sports Illustrated, which will drop to 27 issues from its current level of 38.
Media Ink at the Post learned that Fortune will cut back to monthly from 16 issues, while Money will drop to 10 issues from 11. In addition, Media Ink learned Entertainment Weekly will chop four issues and appear 34 times a year in 2018. Magazines on the block are not immune either: Essence will drop to 10 issues from 12, and Sunset will drop to 11 issues in 2018 from its current 12.
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