In the last six months, we've witnessed many brands — for some reason in particular, cookie labels — go kaput. We're barely into the new year, and at least one source predicts that media companies will be going next, and food publications won't be excepted.
New York financial media company 24/7 Wall St. reports that things are looking glum for Gourmet magazine:
Gourmet will probably not see the end of the year. Its parent company, Condé Nast, can no longer rely on the huge profits of the newspaper portion of the Newhouse family business.
The magazine operation needs to go on a diet. Condé Nast . . . owns Gourmet, Bon Appétit, and epicurious.com. Condé Nast simply owns too many titles in this category. From 2004 to 2008, Gourmet's ad pages have dropped from 1,364 to 955, with a 24 percent drop last year. January's ad pages were down another 32 percent according to MIN. Gourmet can survive since it has a competitive audience of web visitors to its food site, but it will have to migrate totally to its website.
Although, Gourmet wasn't our favorite food magazine of the year, and you prefer Bon Appétit, I am an enormous fan of the magazine's editor, Ruth Reichl. I frequently read the glossy for its reliable and creative recipes, and would be sad if I no longer had a subscription. Do you subscribe to the magazine, and would you be disappointed to see it go?