Canadian Magazine Industry News
1 September 2009,     MONTREAL
Reader's Digest Canada makes an unusual boast
Reader's Digest is the third-largest magazine in Canada by revenue.
Reader's Digest is the third-largest magazine in Canada by revenue.
Reader's Digest Canada released a press release yesterday with a rather unusual headline: "Reader's Digest Canada Announces Advertising Revenues Up 1%." Obviously a flat year is not something publishing companies often boast about, but the move makes sense in context—RD Canada is clearly trying to distinguish itself from the American Reader's Digest Association, which recently filed for Chapter 11. Also, a 1% increase in ad revenue this year is actually pretty damn good. Here's the full press release text:

Results posted on Masthead recently reveal that Reader's Digest has retained its position as number 3 in Canada and Best Health, the one-year-old publication, was featured on Masthead's list of the top ten almost made-its. Advertising revenues for all the magazines and websites were up 1% in fiscal year 2009, an extraordinary achievement in an industry that is struggling.

"This is the way we are reacting to the challenging market conditions - having adapted all of the Reader's Digest properties over the last two years, to multi-brand, multi-platform media outlets catering to specific target communities and advertisers, with original, relevant, interesting content," said Tony Cioffi, CEO of Reader's Digest Canada.

Comprising five magazines, affiliated websites, and several partnership initiatives, the Reader's Digest Canadian Operation is well positioned to provide great content to target demographics in the medium in which they are most comfortable. Further announcements on properties are due in the next few months.
— M.U.
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