Just after announcing it would bring in McKinsey & Co. for some horrific cost-cutting, Conde Nast has released its official projections for its crucial September ad sales. We knew the numbers would be bad; they lived up to expectations.
This year Conde is not publishing its annual ad-heavy Fashion Rocks supplement, which itself significantly hurts ad pages, apart from the effects of the recession and the decline of print. Of course, Fashion Rocks was killed because of those things, so whether you should factor it into the year-over-year ad page loss is a philosophical question.
But even when giving Conde the benefit of the doubt and not factoring in Fashion Rocks, the losses are grim.
Conde Nast Traveler and Architectural Digest both posted losses of well over 30%. If you include Fashion Rocks in your calculations, many of the titles' losses swell to more than 40-50%. Bad news all around.
For a full chart of Conde titles, see Media Memo.