Condé Nast will continue to lay off employees as it slashes its budget and reduces print issues across many titles, according to a report today from WWD.
Teen Vogue will stop printing its five annual issues and focus on growing its digital properties instead. Online traffic grew by 250 percent in two years, an effort led by Phillip Picardi, digital director for Teen Vogue and Allure, and Elaine Welteroth, Teen Vogue editor in chief.
Condé Nast spokespeople declined to comment about the changes. But at Adweek’s publishing industry summit Wednesday, Welteroth said the magazine would create more experiential events, including a two-day conference in Los Angeles in December.
Welteroth’s future will include roles at Teen Vogue and, in a larger context, at Condé that have yet to be defined. She’s been with the company for six years, starting as beauty editor at Glamour.
Seven Condé Nast titles will see a reduction in print frequency, while the worst-performing titles and departments will have budget cuts of up to 20 percent, reported WWD. GQ, Glamour, Allure and Architectural Digest will go from 12 issues to 11; Bon Appétit will go from 11 issues to 10, and W and Condé Nast Traveler will now have eight issues, down from 10.
Vanity Fair, Vogue, Wired and The New Yorker will not see any change in frequency.
This news comes as Time Inc. also announced it is trimming the print frequency of several of its titles. Sports Illustrated will go from 38 to 27 issues while Fortune will go from 16 to 12 in 2018.
UPDATE: Below is a statement from Condé Nast about these changes:
“Teen Vogue has experienced tremendous audience growth across its digital, social and video platforms this past year. We are aggressively investing in the brand and all of its consumer touchpoints, including events like the upcoming inaugural Teen Vogue Summit next month in Los Angeles.
“As audiences continue to evolve around content consumption, we will modernize and calibrate how, where and when we produce and distribute our content to be in synch with the cultural moments and platforms most important to our audiences. Though the quarterly print editions will cease publishing on a regular schedule, we will explore reimagined special issues timed to specific moments (vs. months) as we do in social.”