Dotdash Meredith, businessman Barry Diller’s media group, will stop publishing the print editions of six magazines the group acquired when it bought Meredith Corp. last year. These magazines are Entertainment Weekly, InStyle, EatingWell, Health, Parents and People en Español. Now, Dotdash’s goal is to focus more on the digital versions of these brands.
This measure will cause 200 jobs to be lost , according to the director of Dotdash, Neil Vogel, according to Reuters.
This figure represents less than 5% of the company’s total employees. The six magazines will publish their last print issues in April.
Vogel said that the people whose jobs will be eliminated could be rehired in the more than 19 vacant positions that Dotdash has in the editorial, engineering , products, design and e-commerce.
“We have said from the beginning that buying Meredith was about buying brands, not magazines or websites. It is not news to anyone that there has been a pronounced shift in readership and advertising from print to digital, and as a result, for some major brands, print no longer serves the primary brand purpose,” he said. Vogel.
In recent years, both newspapers and magazines have seen their revenues decline from sales of print advertising in their publications, while digital companies, such as Google and Facebook, have had juicy revenues from the sale of digital spaces.
The COVID pandemic-19 caused this problem to intensify, as the shift of readers from print media to online media accelerated.
Dotdash magazines are read online by about 100 million people monthly and the 14 titles it handles covering health, finance and lifestyle topics are among the fastest growing online media.
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