Earlier this year, I reported on the sorry state of print magazine publishing as illustrated by the spate of closures reported up to that time.
Now that we’re wrapping up 2009, we can see the full scope of the damage. MediaFinder has tallied up more than 370 magazine titles that have folded over the course of the year. And the number is closer to 450 if you also include magazines that ceased to publish in print form and went to an all-digital format.
Interestingly, magazine closure stats for 2009 were actually a bit lower than in 2008 and 2007. But this year saw the demise of some pretty important titles. Among the more noteworthy casualties were:
Editor & Publisher
As we move into 2010, will these trends continue, or will magazine closures level off? It’s too soon to say, but some prognosticators are forecasting a slight uptick in print magazine advertising revenues, so perhaps the worst is behind us.
But coming off of a disastrous 18-month period when print advertising revenues have tanked 25%, 30% or more, it’s hard to see how some magazines can continue to survive at the new, depressed revenue levels which will likely be a fact of life going forward.
And what about newspapers? For them, 2009 was even more depressing, with a record number of bankruptcies filed including the companies that own the Chicago Tribune, Philadelphia Inquirer, Chicago Sun-Times, Minneapolis Star/Tribune and a number of other iconic newspaper brands. At the end of the year, though, some firms had managed to resolve their bankruptcy proceedings thanks to cash infusions, labor concessions, or selling out to new owners.