Matthew Flamm of Crain’s New York writes in the weekly business newspaper that Conde Nast’s launch of Portfolio magazine next year will likely be the last huge, multi-million dollar magazine launch in the industry.
Flamm wrote, “Conde Nast says that it won’t back away from new launches, either–even ones as expensive as Portfolio’s.
“‘If we had a creative concept we felt strongly about, we would not hesitate,’ says Chief Executive Charles Townsend.
“Conde Nast executives argue that as a monthly that offers in-depth articles, Portfolio won’t be hurt by the Web in the same way that news-oriented brands like Time and BusinessWeek have been.
“‘The print that’s most challenged has content you can find free,’ says David Carey, group president and publisher of the Conde Nast business media group.
“Of course, Conde Nast can afford to take risks. As a privately held company, it doesn’t have to justify its $100 million gamble on Portfolio to anxious shareholders.”
Read more here.
