Everyone at Hearst Magazines received a letter from company president David Carey that reiterated his ambitious 2012 target of more than a million paid digital subscribers via iTunes, Zinio, Nook, Amazon and Next Issue Media, as well as promising that all sites were on a fast-track transition to HTML5.
In the letter, which was fundamentally an upbeat overview to usher in the new year, Carey (pictured) laid out how diversified the group is now. He said roughly 40 percent of revenues are derived from U.S. print and digital, 40 percent from international print and digital, and 20 percent from iCrossing and CDS Global services. “iCrossing’s ‘connected brands’ strategy, now bolstered with a more robust data platform, positions Hearst to grow its leadership position in digital marketing services. And CDS Global, our second largest business in the U.S., will continue to add more technology solutions to serve its increasingly diversified client base,” he wrote.
Along with redesigns to several print publications, Carey noted the success of brand extensions like Marie Claire @Work and Cosmopolitan Latina in attracting new readers and advertisers, suggesting those types of projects would become more common. Part of that will be two branded YouTube channels due to launch in the near future, and further projects born from the alliance between Hearst and transmedia entertainment producer Mark Burnett.
Hearst recently acquired Hachette titles in 14 countries, then merged the U.S. and U.K. Hachette organizations into the parent company, which Carey said is now well positioned to contribute to significant digital growth in online and e-reading.
“Being part of transformational change in the media business is incredibly exciting and satisfying, but I know the days can be long and often stretch late into the nights and weekends,” he wrote. “I look forward to another year of seeing our amazing talent, our unique culture and our world-class assets rise to meet the future head on.”
Hearst Magazines has more than 300 editions around the world, including 19 U.S. titles and 23 magazines in the United Kingdom, through its wholly-owned subsidiary, Hearst Magazines UK. The company operates more than 28 websites, 14 mobile sites, a variety of digital applications, and digital marketing services company iCrossing. Carey also led the creation of the Hearst App Lab, a state-of-the-art media lab and interactive learning center in Hearst Tower.
Carey is on the Hearst board in addition to serving on the boards of the Magazine Publishers of America and the Internet Advertising Bureau (IAB). He is also a board member of the Harry Winston Diamond Corp. and a member of the CUNY Graduate School of Journalism Advisory Committee.