Conde Nast to launch new brand extensions and stand-alone mags
In a strategic decision to expand its presence in Latin America and the US Hispanic market, Conde Nast, the second largest magazine publisher worldwide, created Conde Nast Americas out of its Miami based subsidiary Ideas Publishing Group. “We have made a commitment to invest in Latin America and the US Hispanic market,” Pablo Payró, Conde Nast Americas president told Portadatm. “This includes launching brand extensions of existing Conde Nast magazines, as well as creating new publications.”
“The women's sector, shelter magazines and lifestyle titles are good candidates for launches,” Payró noted. He mentioned “luxury goods, consumer goods, and travel” as the ad categories of most interest. “Advertisers with mass consumer products for men and women are particularly appealing in the Latin American market,” he added. These new publications will be developed for single markets (Latin America only or US-Hispanic only) and individual countries.
“We are currently conducting wide research to determine what new magazines we will launch,” said Payró. “As for brand extensions, GQ,>Vanity Fair, Bon Appetit and Conde Nast Traveler are possibilities.” He added that some of Conde Nast's English language magazines like Cargo (devoted to men) or Lucky (buying) would be hard to translate for the US Hispanic and Latin American markets.
Sandra del Rio, Conde Nast International's editorial director of new project developments in Spain, has recently relocated from Madrid to Miami's Conde Nast Americas offices to be in charge of new magazine content and new editorial projects.
Conde Nast Americas, will report to Conde Nast International, and continue to publish the Spanish-language editions of Glamour en español (monthly, circ. 372,500), Vogue en español (monthly, circ. 209,800) and Architectural Digest en español (monthly, circ. 170,000). Previously, the three publications, owned entirely by Conde Nast, were published by Ideas Publishing Group. “Ideas Publishing Group was born as a multititle publisher eight years ago, now it is my personal goal to focus on the business of magazines owned exclusively by Conde Nast,” Payró said. Before taking over at Conde Nast Americas in December, Payró was general director and partner in Mexico's Grupo Editorial Red.
While Payró acknowledges that the majority of Conde Nast America's revenues are generated in Latin America, he would not disclose specific numbers. A look at the aggregate circulation of Conde Nast Americas' Glamour en español, Vogue en español and Architectural Digest en español reveals that only 14% of the circulation of these publications is in the U.S. – 20% if the 6% distributed in Puerto Rico are included. The rest are distributed in Latin America. Mexico accounts for 32% of the aggregate circulation, followed by Venezuela (12.4%) and Colombia (10.6%).
According to Media Economics Group which publishes the HispanicMagazineMonitor ad tracking service, Glamour en español sold US $2,385,500 worth of advertising space between January and November 2003. Vogue en español sold US $2,007,600, and Architectural Digest en español had sales of US $564,800. These ad-sales figures are for US Hispanic editions, not their Latin American counterparts. According to HispanicMagazineMonitor, combined ad sales for all US Hispanic titles published by Conde Nast Americas, both wholly-owned and licensed, was US $7,739,000. This gives Conde Nast Americas a share of 5.9% of the US Hispanic magazine ad market. While this is a sizable share, it is a much lower figure than the market share of other major publishers like Editorial Televisa, Time Inc. and Reader's Digest.
Initially, Conde Nast Americas will continue to publish, under license agreements, the Latin American and US-Hispanic editions of four large English-language magazines. These are Newsweek en español (Washington Post, weekly, circ. 51,000), Discover en español (Disney, monthly, circ. 139,000), Motor Trend en español (Primedia, monthly, circ. 188,000) and Prevention en español (Rodale, monthly, circ. 240,000). In May 2003, Ideas Publishing Group sold the licenses for Men's Fitness en español (Weider/American Media, monthly, circ. 207,000) to American Media and Teen en español (Primedia, monthly, circ. 262,000) to Primedia, publisher of Teen in English. Primedia has since sold the Teen titles to Hearst magazine group. Other publishers are interested in acquiring the licenses for Discover en español, Motor Trend en español and Newsweek. Negotiations for a sale are under way.
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