Dots| McKinsey & Co. has finished their summer-long review at Condé Nast, and now the fun begins. Details of the report have not veen leaked yet. All editors and publishers are scheduling their sit down with Chief Operating Officer John Bellando.
One senior executive speculated that the operating cuts may be as much 25%.
Ad revenues have plunged at Condé Nast, and perhaps not all due to the economy. Ad pages at Vanity Fairhave slid 35% through October, according to Media Industry Newsletter. Gourmet’s ad pages have fallen 43% and W’s are down 45%. via Crain’s New York Business
Assumptions are that ad revenues won’t rebound soon — if ever. The blogs — or sites like Anne of Carversville — are taking a piece of the cake.
Gawker Media revenue is up 45% and Lisa and Brian Sugar’s network report a 20% increase in revenue.via NY Times
As I’ve said all summer, big parts of the Condé Nast strategy are “off kilter” and off message. We would all just love to know the contents of the McKinsey report, although I’m not assuming that they know the way out of the forest either. Anne