Groupon: A Good Deal For Media?

That’s pretty impressive, but it may not save media.

New York magazine sold more than 2500 subscriptions in late June and made about $33,000. Even after Groupon’s 50% cut, the deal was “immediately profitable for the magazine,” NY mag’s head of consumer marketing Ken Sheldon told Nieman Lab.

But the real point for most magazines would be to entice subscribers at the discounted rate, then get them to re-up next year at the full rate.