Portfolio: Just Can't Sell Ads?
Ruh-roh. According to Crain’s New York Business, Condé Nast’s Portfolio is hemmoraging advertisers. The magazine’s second issue will close in two weeks with about 120 pages of ads — and the first issue had 185. Even given the traditional drop in advertising pages that magazines experience when they go past their first issue, a 65-page reduction is significant. Crain’s spoke with an anonymous source at a major media-buying shop who explained why advertisers are fleeing:
“They expected a more hard-hitting, substantive business environment, and what they got was a fashion-centric, business-as-background type of Condé Nast title.”
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