On the heels of a David Carr N.Y. Times article yesterday about the crummy economics of the New York Observer, it was interesting to read in the FT today about the world’s most profitable magazine: People.
People is already the most profitable magazine in the world. Although Time Inc does not disclose numbers, it is believed to have generated $1.3bn … in revenue in 2004, according to Advertising Age, the industry trade publication, and contributed between one-quarter and one-third of Time Inc’s $1.2bn in operating income that year. Since being founded 32 years ago, its weekly readership has grown to more than 40m. [Emphasis mine]