When Conde Nast’s new business title, Portfolio, hits the stands next May, media executives believe it will bring new advertisers to the category. And new blood is needed: Ad pages at business magazines are down - the latest bad news has IBM pulling advertising, $9.3 million worth, out of McGraw-Hill’s BusinessWeek magazine.
Portfolio’s top business competitors include Business Week, Fortune, and Forbes. According to Publishers Information Bureau, ad pages at Business Week were down 3.7 percent and revenue down 9.3 percent from January to May 2006 compared with the same period in 2005. For the same period, Fortune’s pages were down 5.5 percent and revenue down 3.3 percent and ad pages at Forbes were down 1.3 percent and revenue up 3.7 percent.
Still, Bill Kupper, president and publisher of Business Week, looks forward to Portfolio’s launch, MediaLife reports. “It means that for all those doomsayers saying that business publications are going totally extinct, it’s just not true,” Kupper said.