Institutional Investor announced Thursday that it is scrapping its print edition and will move to an all-digital content platform on April 1.
Fred Lambert and Maneet Ahuja of CNBC.com report, “‘We just felt like it was the right time for II to move out of print,’ Chairman and CEO Diane Alfano said in a phone interview. ‘We’re seeing a real increase in our digital engagement and digital sales.’
“Alfano said that digital sales and online readership have risen 44 percent and 20 percent, respectively, over the past year. Print, meanwhile, accounts for just 5 percent of the company’s overall business.
“Institutional Investor Alpha, a sister publication of Institutional Investor that’s published quarterly, will also become an all-digital publication.
“The move will lead to layoffs ranging in the single digits, Alfano noted. But Kip McDaniel, chief content officer at Institutional Investor, said, ‘The core editorial team will remain intact.'”
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