Consumer Reports Shuts Down ShopSmart and MoneyAdvisor
Shifts resources to flagship brand and digital expansion.
Both of those titles serve an audience at a far lower scale than the flagship brand and the company says the shutdowns will allow it to devote resources to core products and an expanding digital initiative.
The company says Consumer Reports has 3.6 million subscribers to its magazine and close to that same number subscribe to the online product. Meanwhile, after nine years in publication, ShopSmart has topped out at 324,000 subscribers. The print Money Advisor newsletter sits at 135,000.
Both could be considered substantial circulation in a different corporate context, but neither is close to the mass-market reach of the main brand.
The content approach of both of the shuttered brands will continue, however. "Much of what we learned about the preferences of both ShopSmart and Consumer Reports MoneyAdvisor subscribers will be reflected in the ongoing content of Consumer Reports magazine and ConsumerReports.org," says a spokesperson.
The shutdowns come as the organization makes a broader shift with its content group that reflects a strategy heavy on digital development.
Jason Fox was hired in April as VP of digital. Wendy Rounds was promoted out of the video division to become executive director, content. Erle Norton, who was previously deputy director of video, is now executive editor, digital. Diane Salvatore was promoted from a content strategy role to editor-in-chief of Consumer Reports magazine. And Kevin Winterfield was hired as director of social media.
Three of those positions are brand new—executive director of content, the digital executive editor and the director of social.