US publishers go online together
Five of the largest American magazine publishers are launching a joint venture to create a shared online newsstand. The publishers involved in the new media platform are Time, Condé Nast, Hearst, and Meredith, as well as Rupert Murdoch's News Corp.
The aim of the digital initiative is to develop a new generation of magazines for mobile and digital devices, the consortium said in a joint statement on Tuesday. In particular, the joint infrastructure is also intended to reduce the costs of the existing online business. In addition to the publishers' publications, the distribution platform will also offer an archive and new advertising opportunities. Customers will also be able to send each other videos and photos. The service is to be launched in the coming weeks. The magazines are responding to the negative trend on the print market, which has continued unabated in the USA this year. By October 2009, 383 magazines had been discontinued there.
