By: Molly Soat
Last year was another rough one for newspaper and magazine publishers. In 2014, 91 U.S.- and Canada-based magazines ceased publication, up from 51 closures in 2013, while stalwarts like the U.S. political magazine National Journal decreased their issue frequency. On the newspaper end, total ad revenue in 2013 was 49% lower than it had been a decade earlier, according to the “State of the News Media 2014” study by the Pew Research Center, and Tribune Co. is estimated to have cut 700 jobs in 2013 alone. Fearing for the worst, many publishers are raising subscription costs in an attempt to offset ad revenue declines, investing in flashier digital delivery platforms in order to offer advertisers multichannel bundle opportunities, or launching annual events in the hopes of generating enough money via registrations and sponsorships to sustain a year’s worth of magazine production costs.