According to a new report, People magazine may soon discontinue its print addition due to mounting losses.
As The New York Post reports:
People may scrap its weekly print edition as its new owner looks to slash costs — even as writers privately gripe that the magazine’s new editor looks to be an awkward fit for the celebrity-gossip icon, The Post has learned
Staffers at People — a 48-year-old fixture in grocery checkout lines, beauty salons and doctor’s offices known for its “Sexiest Man Alive” cover — are bracing for the magazine to go online-only after Dotdash Meredith, a unit of billionaire Barry Diller’s IAC, shuttered a slew of print publications, sources close to the situation said.
Those include Entertainment Weekly and the fashion glossy InStyle, which once oozed profit and was thick with advertising pages. People, meanwhile, faces getting the ax despite claiming the largest audience of any US magazine for nearly a decade until 2018, when it surrendered the title to AARP.
“I think it’s a goner,” one well-placed source said of People’s weekly edition. The source added that execs are instead mulling monthly or quarterly editions, as well as special-themed issues which carry a much higher cover price.
Print magazines have been on the decline for years, many having fallen to more profitable online models.