Time Inc. Shutters InStyle Weddings, Lays Off Nine
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Time Inc.‘s Instyle Weddings has become the latest casualty of the magazine industry’s larger woes, Gawker reports. The quarterly offshoot of InStyle will publish its last issue on Dec. 25. Nine staffers will be laid off. The move comes as parent Time Inc. is reportedly close to signing a deal with rival publishers to create an “iTunes for mags.” The joint venture is intended to give the publishers a revenue boost and stanch the loss of readers and ad pages.
The closure of InStyle Weddings comes a month after Condé Nast’ closed Modern Bride and Elegant Bride amid a larger reorg that was marked by the folding of Gourmet. Publishers have realized that with so much overlap among magazine categories like food, fashion and weddings under the same roof, individual titles are competing for the same scarce ad revenue and reader attention. Therefore, the impulse is to jettison under-performing mags that may be dragging down similar titles within a company’s group.
SEE ALSO: Time Inc. Close To Magazine JV With Rival Publishers
The death of InStyle Weddings doesn’t mean that Time Inc. will pare down all of the InStyle offshoots. So far, InStyle Hair is continuing, perhaps because “hair” is both less cluttered and more niche of a mag category. Earlier this month, Time Inc. began laying off roughly 500 staffers in a reorg that was done to save $100 million costs.
Posted In: Media & Publishing, Magazines, Companies, Time Warner, Time Inc.
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