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After an ad downturn that was especially hard on luxury-focused media companies, Condé Nast CEO Chuck Townsend says the company is outpacing the economy and trumping its competition in ad pages.
In a year-end memo to staff, Townsend boasted that the fashion/luxury publisher ended the year with a 3,000 ad-page advantage over its competitive set, in which he included Hearst, Time and Hachette Filipacchi Media titles.
For the most part, though, Townsend talked about change the company is going through as it tries to replace softened ad revenue with new revenue streams.
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