An extremely sad day for the magazine industry today, with the shock announcement that eight popular Australian magazine titles will be shut down for good.
Publisher Bauer Media Australia made the announcement on Tuesday, citing the “ongoing impact of COVID-19” as a result of the closure.
The magazines set to become a thing of the past include Harper’s BAZAAR, ELLE, InStyle, Men’s Health, Women’s Health, Good Health, NW and OK!
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It comes after Bauer temporarily paused the publications in May this year due to the “significant impact of travel restrictions” and “declining advertising revenue”.
“We, like many other media companies, have deeply felt the impact of COVID-19,” Bauer Media ANZ CEO Brendon Hill said.
“The reinstatement of these titles and teams was always dependent on the advertising market bouncing back and the return of domestic and international travel.
“Despite promising signs from advertisers in recent weeks, this has not outweighed the medium term outlook for these titles.”
He said the second outbreak of the virus in Victoria has also played a major role in the demise of the magazines.
“Additionally, with a second lock-down in Victoria and minimal travel, it is not feasible to sufficiently distribute NW and OK! without transit channels,” Mr Hill said.
“The financial impact of these factors and the ongoing economic uncertainty makes the return and sustainability of these titles no longer viable. We have been forced to reset and future-proof the business like all of the media industry has.”
As a result, hundreds of workers including editorial, sales and production staff will be made redundant, while others will be moved to other areas of the business.
“The real and significant loss is that of our exceptionally talented and loyal colleagues as part of these closures,” Mr Hill said.
“We have been optimistic about bringing our team back, however the market has only seen further decline since stand downs were implemented in May. We wanted to give direction and clarity to our staff as early as possible, rather than create further uncertainty with irregular publishing schedules.
“This is a devastating blow to those who are directly affected, the entire Bauer team and the industry as a whole. I would like to acknowledge and thank the hard-working staff across these titles for their commitment and significant contribution to these brands.”
Bauer says it will work through the “appropriate consultation process” with impacted staff.