Time Inc.’s print magazine venture MAGHOUND is closing. The service debuted in 2008, and is expected to fold early this year. Dubbed the “Netflix of the magazine industry” in the press, MAGHOUND hawked multiple titles for a discount price, without the commitment of a subscription.
The Time Inc. subsidiary offered three titles for $4.95 a month, five for $7.95, seven mags for $9.95 and $1.00 per title for eight magazines or more. The service, which billed customers’ credit/debit cards directly, operated on a monthly cycle.
According to a Time Inc. representative, the publisher will close the division in order to focus budgets and manpower on the digital push (all 21 Time titles were digitized in 2011). There will be a grace period in which users are made aware of the
changes and advised to subscribe directly to their magazines of choice.
Despite the impending closure, the rep tells FOLIO: that Time Inc. credits MAGHOUND for the technology that allows authentication on its tablet editions.
At time of launch, MAGHOUND offered titles from Bonnier, Time Inc., Martha Stewart Living Omnimedia and Meredith. The service shared a cut of revenue with partnering publishers, and sales were classified as single copy.
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