Publishing giant Bauer Media has informed staff the group will go under the microscope with plans to slash low-performing magazines in a company-wide reshuffle.
CEO Nick Chan – who took the reins at Bauer in April – assembled his of staff this week to outline the publisher’s vision for the future.
This vision, Chan told staff, will see the group streamline publishing operations under five consolidated pillars: women’s entertainment and lifestyle; homes; food; fashion, health and beauty and motoring and trader.
Underperforming magazines published through Bauer are set to be jettisoned, with Chan stating the group is determined to cut loose floundering print titles before the end of the year.
Bauer outsources its magazine printing to three key players in the Australian print industry, PMP, IPMG and IVE Group.
PMP’s distribution arm Gordon and Gotch also took over Bauer’s magazine logistics in January after the publisher closed its own distributer Network Services Company.
The contract itself was worth $77m, which PMP credited as its saving grace in its sales figures for FY16.
Several well-known Bauer titles have faced the chopping block in recent times following dwindling circulation. The group closed Women’s Fitness in 2014 before it was rescued by Citrus Media, shuttered Zoo Weekly andTop Gear in October last year and folded women’s fashion Cleo in January this year.
Long-running fashion masthead Cosmopolitan is struggling with plunging print circulation, the brand now one of Bauer’s worst performing titles with monthly readership edging towards 40,000 compared to 77,000 in 2015.
Bauer’s magazine reckoning follows news the group posted its second highest global revenue in company history. According to the group, its collection of glossy mags contributed to $2.49bn of its global turnover.
The publishing group’s highest-performing titles in Australia include The Australian Women’s Weekly and Woman’s Day.
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