“Condé Nast is no longer a magazine company,” says the CEO

Condé Nast, publisher with Vogue, Wired, The New Yorker and GQ “no longer a magazine company”, CEO Roger Lynch said.

“We have about 70 million people reading our magazines, but we have 300 million who interact with our websites every month, and 450 million who interact with us on social media. Our audience is already telling us that they are not interacting with us. I think it’s been obvious for a while.

“If you’re just a print publication with advertising support, I think you have a tough future. Fortunately, for the names we have, consumers are willing to pay for it. We actually see that subscriptions to print letters are growing in our business. What is under pressure, and it has been a decade or more, is print advertising.

“Being on the cover of Vogue magazine is really as important as ever. We just make money this way other than the magazine, because magazines make up less of our revenue today. ”

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