BREAKING: Teen People to Fold Magazine, Maintain Web Presence
Following in the footsteps of rival Elle Girl, Teen People announced today that it will cease publication with its September issue, but continue to maintain its Web presence. "We will continue to invest in the brand through Teenpeople.com, which shows promise and growth," said Teen People's Ann Moore and John Huey said in a note. "Teen People's groundbreaking launch in 1998 as a magazine and Web site was an industry first and we remain proud of it."
The note goes on to say that the company is taking steps to place as many Teen People magazine employees as possible within other Time Inc. jobs. Time Inc. has laid off at least 280 employees, in various departments since December of last year, but just recently announced a number of new hires to its sales department.
Last April, Teen People competitor, Elle Girl made a similar announcement saying that it would stop publishing its magazine with its June/July issue, but would continue its presence online and in mobile applications. A major difference between Teen People and Elle Girl, however, is that Elle Girl was actually realizing a surge in ad revenue, which grew 77 percent in 2005 to $33.7 million, up from just $19 million a year earlier. And its circulation and rate base had doubled since its 2001 launch to 601,149 and 600,000, respectively. While Teen People's readership has held steady, its been hemorraging ad revenue at a time when competitors, Teen Vogue and Cosmogirl are seeing an increase in ad dollars.
Teen People saw its ad revenue from January to June of this year fall to just over $25 million from just under $28.6 million in the same period a year earlier, a more than 10 percent drop. In the first six months of this year, the title's ad pages averaged 302.19, down 14.4 percent from 353.4 pages in the same period in 2005.
Teen Vogue, on the other hand, had an increase in ad revenue in the first six months of this year, taking in $39.8 million, compared to just under $33.5 million in the first six months of 2005. Cosmogirl also experienced ad growth in the same period, earning $36.5 million compared to $32.9 million in 2005, an increase of 11 percent.
Even so, Teen People boasts a larger circulation than both Teen Vogue and Cosmogirl, 1.5 million compared to 1.29 million and 1.37 million, respectively.
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