Condé Nast Eyes Biz Model Shift as Gourmet Gets New App
With the launch of a new Gourmet brand extension, Condé Nast executives aren’t just trying to wring money out of the beloved erstwhile magazine, but rescue the company from its decades-old reliance on ad revenue.
Chuck Townsend, CEO of Condé Nast, said that because the company depends on advertising for 70 percent of its revenue, the ad recession was a “brutal experience.”
“It’s clear to me that an overt dependence on advertising revenue is overly risky for Condé Nast,” he said after a press conference announcing a new digital app called Gourmet Live.
Townsend
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