Hachette Shutters U.S. Print Version of Premiere
Online and events become the focus.
Hachette Filipacchi today announced that it will fold the print edition of film magazine Premiere with the April 2007 issue and focus the brand’s future strategy on events and online. The move, which doesn’t affect international print editions of Premiere, comes shortly after Hachette announced in December that it would shutter the print version of Shock in favor of an online-only strategy, and nearly a year since it did the same with ElleGirl.
Ad revenue for Premiere sank 20.9 percent to $28.9 million in 2006, while pages fell 24.7 percent to 487, according to Publishers Information Bureau. Premiere editor-in-chief and group editorial director Peter Herbst will leave the company while Paul Turcotte, vice president and publisher of the Entertainment Group, will stay with Hachette in an as-of-yet undetermined role.
Premiere.com will relaunch later this year and Premiere Mobile is live on Virgin Mobile, Sprint and Boost Mobile. In recent years, Premiere has developed successful sponsor-driven events, including the Premiere Film & Music Lounge at the Sundance Film Festival.
Hachette vice president of digital media Marta Wohrle recently told Folio:, "We’ve done five-year plans for every brand online and we think we can get 20 percent of our income from online/mobile company-wide. In terms of profitability, the proportions should be much higher. Overall it’s going to be a smaller business [than print] but the margins may continue to be much, much higher."