Bauer Media has announced that Cosmopolitan magazine will close. here is part of the story from Mediaweek today with more:
Bauer Media has announced the closure of Cosmopolitan Australia. The December issue will be its last.
The magazine has been published in Australia for over four decades and was a Hearst Magazines title published in Australia under licence to Bauer. Remaining Hearst titles in the Bauer stable are Harper’s Bazaar and Elle.
Cosmopolitan launched in Australia as part of what was then called Magazine Promotions, the Fairfax magazine arm. Later rebranded as Fairfax Magazines, the title moved along with most of the Fairfax’s other magazine brands to ACP Magazines.
Launch editor was Australian magazine legend Sylvia Rayner, who started the title in Australia in 1973, moving across from Woman’s Day where she was fashion editor.
Bauer Media CEO for ANZ Paul Dykzeul said this week: “It has not been an easy decision to make. However, the commercial viability of the magazine in Australia is no longer sustainable.
“Magazine closures are never easy, desirable or done without careful consideration for all of those involved. We have to ensure that we are continually reshaping and defining the business so that our readers of today, and those of tomorrow, remain engaged with the content we publish and the platforms upon which we deliver.
“We are incredibly proud of the brand and the people who have been involved and represented over the last 45 years. It has helped to launch the careers of media personalities, supported great brands and causes, and inspired millions of young women across the country.
“We would like to thank everyone who has contributed to the brand and its legacy over the years.”
Business is business. Newsagents checking their own sales data will know the titles facing similar challenges.
Cosmopolitan has been a good title. The challenge today is that this consumer is able to find satisfaction through other more visual, interactive and timely platforms. This sits at the core of challenges facing all publishers.
According to Roy Morgan stat’s, Cosmopolitan achieved a Stella 28% increase in readership in 2018 v 2017, with stable print numbers supported by massive progress digitally. Cosmopolitan also appears to be as big as Elle and Harper’s Bazaar combined. Suddenly it has no future.
Call me a cynic but my inference is the unaudited numbers of the magazine industry are at best misleading, more likely total lies.
Readership is used to sell advertising. In my view, only paid circulation matters.
The same statistics show total print for all magazines unchanged from 2017. Yet there are 10% “less newsagents selling 10% less copies. When an industry collectively lies the consequences can be dire. Note the German car industry.