‘Not for the faint of heart’: Publishers scramble to make their annual sales numbers
For some, the holidays is a time to feel gratitude and reflect on the blessings of the season. For sellers of media, it’s a mad scramble to do their utmost by Dec. 31 to maximize their bonus if they’re lucky — or make up for lost revenue ground if they’re not. “It’s not for the faint of heart,” said Tom Morrissy, president of the agency Noble People, recalling his days as former publisher of celebrity weeklies including OK! and Entertainment Weekly. And the fourth-quarter scramble has gotten more intense with the rise of digital. Whereas print magazine issues would all eventually have a closing deadline, digital is always open for business. The barriers to launching or adding to a campaign are lower in digital than in print. No doubt with all the digital publishers missing or struggling to make their numbers this year, it’s an especially tense time. “It is a bad year,” said Michael Hess, a longtime seller who now advises sales management through his company, Core 6 Advisors. “R...