It's there in black and white (and red): business magazines are struggling to find advertising revenue. But US publisher Condé Nast is bullish about its glittering entry into the faltering market.
The company, whose glossy stable includes Vogue, Glamour and Architectural Digest, is planning to launch a business magazine - as yet untitled - a website and related ventures.
The new division will be led by David Carey, currently publisher of Condé Nast's The New Yorker, and Wall Street Journal veteran Joanne Lipman.
Says Condé Nast ceo Charles Townsend: "This new group fits well with the growth strategy of the company and will complement . . . existing titles."
And Carey is equally optimistic about the new venture, despite the tough environment. He says: "I'm not sure there ever is an ideal time to launch a new magazine. You can build a great magazine and a marketplace will build around it."
But, comments George Sansoucy, svp of Magna Global Trading, a division of advertising group Interpublic: "It is a crowded cluster of magazines of which there are some under-performers. So it is a curiosity."
Data sourced from New York Times; additional content by WARC staff