Hearst, the publisher of Cosmopolitan, Good Housekeeping, Elle and Esquire, appears to be one of the few major print publishers with magazine launch plans for 2016.
“We have several new print magazine concepts, all developed in partnership with other companies, extensively researched in 2015, ready for possible testing in 2016,” Hearst Magazines President David Carey said in a Christmas Eve letter distributed to 10,000 worldwide employees.
However, only one will get the green light to launch in print while several digital publications with lower overhead costs could debut as well, according to insiders.
The company will use the joint venture formula that it employed to produce O, the Oprah Magazine and, more recently, the Food Network Magazine and Dr. Oz the Good Life.
Hearst has reportedly been working with room-rental site Airbnb, which a year ago published its own travel magazine, titled Pineapple. There has been no indication that the Airbnb project will be the one getting the green light.
Carey also said print and digital operations “had a very strong year, with profits that beat 2014’s (and even surpassed 2007’s, the last industry high point) — quite a statement considering the significant shifts in the marketplace.”
He said that digital operations now account for more than 30 percent of the publisher’s profits.
“That’s not to say 2015 was a walk in the park; in fact, I’ve never seen a more disruptive period in the broader media industry, with every sector being transformed: newspapers, music, books, magazines, advertising agencies and now television,” he said.