Conde Nast Portfolio's turnaround plan
Kaplan writes, “But the latest blow came with Q1 ad page results showing that Portfolioâ€˜s p plunged 60 percent (the magâ€™s reps say the adjusted number would be 46 percent if it took the reduced publishing into account). And on the internet side, Portfolio.com has been struggling when it comes to traffic, as comScore says uniques dropped 20 percent year-over-year in March to 579,000 visitors. The drop in traffic is likely related to Portfolioâ€™s decision to cut fresh editorial content on the site.
“The turnaround plan: With all that baggage, Portfolio has a lot of work ahead to turn things around. But Portfolio publisher William Li, who was brought over from CNâ€™s Menâ€™s Vogue in January after a management shakeup, has been working on sharpening the magazineâ€™s strengths and trying to expand its coverage to draw in more readers and advertisers. For instance, the magazine opening up sections on tech, travel and health. Also, Portfolio has been looking to expand its coverage and marketing appeal to more tech and telco advertisers, with advertisers like Adobe and AT&T recently having signed up.
“Earlier this month, the site was hit with one of its biggest losses when popular blogger Felix Salmon left to start a blog at Reuters covering global finance. Heâ€™ll be replaced by The Economistâ€˜s Ryan Avent.”
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