Charles Townsend, CEO of Condé Nast, has seen the future of the company, and it is bright. Speaking at the Paley Center, Townsend said he expects revenue for the company’s digital video business to reach $10 to $15 million and from there it will go “through the moon.”
Condé is upping rate bases for several brands next year, too. Townsend hopes that the additional circulation will give the company more influence with advertisers.
“Our print business, even in the worst moment, continues to grow and the margins are sharper and the gross profit margins are mouthwatering,” said Townsend, according to WWD. Mmm… gross profit margins. Someone pass the hot sauce.
Also, no one tell all those people Condé just cut about those fantastic margins.