Thursday, February 26, 2009

Another Magazine Cancels My Subscription

According to the Kansas City Star and 63 other online news sources, another magazine has bitten the dust. This time it hits a little closer to home for P+P. The Hallmark Magazine announced yesterday that it would discontinue publication after just three years with the current issue on newsstands.

"Despite favorable consumer acceptance of the publication, we can not justify continued investment in the magazine at a time when we must focus our efforts and resources only on those projects that will lead to long-term profitable revenue growth for the company," Hall said.

Hallmark Magazine
had doubled its rate base in two years and increased ad revenue by 30% in 2008. With the troubles in the publishing market over the last year and the overall state of the economy, the potential for decline for the publication definitely have been seen in the tea leaves.

The decision to close Hallmark Magazine affects 28 employees in the New York office and ten positions in Hallmark's Kansas City-based creative division, including several of P+P's friends.

This announcement follows a slew of other publications who have closed up operations including House & Garden, Domino, Craft, and Mary Englebreit's Home Companion to name a few. Check out Magazine Death Pool if you want to track the next glossy with its head on the chopping block.

1 comment:

Bob Atkins said...

Dammit, I hope this doesn't mean we'll be getting Good Housekeeping again as 'filler'...