Conde’s $39,000 Success

Condé Nast says it sold 18,000 copies of GQ’s December and January iPhone issues and called the effort “a success out of the gate,” Peter Kafka reports.

The revenue from these sales–$2.99 each, minus Apple’s 30% cut–totals $39,000, or not even “enough to rehire anyone the company let go during last fall’s layoffs,” Kafka notes. We’ll add: Even if the iPhone mag was put together by just one person, that doesn’t even pay the dude’s salary.

But 200% growth month over month is pretty good, and the company’s “hunch” is that sales of the iPhone version didn’t cut into sales of the print version: the people who bought the app wouldn’t have been print customers anyway, they argue.

More importantly: Condé has “convinced advertisers to credit both sales equally.” This is big.

Here’s GQ’s promo of the January issue: