Folio.com has reported that Active Interest Media has laid off 23 employees, or about 10% of their workforce.
“We have experienced a slowdown in print advertising revenue in the fourth quarter and we expect it to continue into 2009,” chairman and CEO Efrem Zimbalist wrote in an email to FOLIO. “While AIM is strong and profitable, we must keep costs and revenues in line in order to stay strong.” Active Interest Media publishes Backpacker Magazine, Better Nutrition, and Yoga Journal, among others.
In related news, several media outlets confirmed last week that Rodale has announced layoffs of 111 employees-about 10% of their workforce. The Morning Call noted that 73 of the 111 jobs eliminated came from the company's headquarters, with the remaining 38 in New York and regional sales offices throughout the country.
The announcement came as the publishing company struggles with sagging advertsing revenues at its leading magazines-Prevention and Men's Health, The Morning Call reports. Rodale also publishes Runner's World, Bicycling and Mountain Bike, among others.
In an economical environment that has proven to be hostile territory for advertising sales, magazine publishers across the country have been forced to cut costs in response to languid advertising sales. Conde Nast, whose publications include Vogue and Vanity Fair, and Time Warner, Inc. which publishes People and Sports Illustrated, have announced layoffs and cost cutting in recent weeks, The Morning Call reported.
According to Rodale's recently released financial statement, third quarter overall revenues decreased 5% as compared to the year ago period. Print advertising revenues were down 1.7% for the quarter, compared to an industry-wide decline of 8.9%.
