Media Week make flesh the rumours that have been circulating over the last week that the magazine distributor MMC is about to go into administration.
“Media Week understands about 50% of MMC’s clients are waiting for overdue payments” they say, but ‘overdue’ in this context means outside of the usual 90 day payment terms. The most significant thing here is that MMC have a wide range of small and niche titles who are going to be left without income for at least the last three months’ editions and may find it difficult to shrug off this revenue loss. Companies with a lot of exposure include the fishing magazine specialist David Hall, The Oldie, Wisden, Jazz Publishing and Our Dogs. None of these are really of the size where a loss of tens of thousands isn’t going to hurt.