Various bits of information are coming through from the poor bloody workers at Future, so rather then post them up here, I thought I’d do a page to follow the effects of Stevie’s recalibrating of the business. The first stuff can be found on this page
I’ll update this as more is announced, or as more is leaked (email@example.com)
If I can be bothered, obviously. Those oatcakes aren’t going to eat themselves.
16 September – Redline to close
A correspondent sends some information from Bath, including copies of staff emails send by the Blessed Stevie and Mark Wood, the UK CEO. More snippets to follow, but Private Frazer was particularly taken with this from Mark’s email to staff on the 15th
As today’s announcement from Stevie shows, the US print business is currently facing far tougher challenges than the UK. But the measures we are taking here are in response to the fact that sales of UK print magazines on newsstand, our largest single revenue source, have also seen significant decline (around 10% year-on-year). We simply have to take action on our costs and our structure in response.
Note the happy correlation between a 10% fall in newsstand and a 10% axing, sorry, recalibration, of staff levels
A trading statement from Future reports revenues that are declining faster than expected, and the Blessed Stevie makes the ultimate sacrifice – she’s going to fire a whole load of people on both sides of the Atlantic. No news on what her pay rise is going to be this year.
So what now for Future’s titles? Which are they going to decide are rooted in the past and have to be ‘recalibrated’ (Stevie’s new euphemism for ‘sacking people’).
A strong rumour has it that PC Format (2010 ABC 9,318, down 21% yoy) is looking down the barrel, but there are several more which seem to have been on life support for some time. In technology, you can take your choice from What Laptop (6,585, down 20%), Computer Arts Projects (6,647 down 20%) and PC Plus (13,727, down 21%) all of which would seem to be long overdue a ‘reorganisation’. Motoring has my perennial favourite Fast Car (19,004 down 27%), Redline (9,623 down 26%), plus the almost utterly pointless Fast Ford and Total Vauxhall; and the music magazines contains three guitar titles, all of which are losing sales.
Gossip from Future should be directed towards firstname.lastname@example.org and watch this space.
Loaded has axed publication of its “pint-sized” issue after just five issues, due to flagging sales. (from Brand Republic)
Interestingly, in recent weeks Vitality have sold Women’s Fitness to Dennis and their hair titles to Haversham.
Six months after a rebrand (from Concept for Living) and a relaunch Jazz Publishing are closing the doors on Northern Homes magazine.