Chapter 1298 The New Yorker and Vogue

Good evening, ladies and gentlemen, this evening belongs to every employee who officially joins New Era Media. "

Yang Cheng's words, accompanied by warm applause from more than 300 people in the audience, opened the chapter of the welcome party.

"Actually, just like you, our company is a newcomer in the entire United States and even the world, and is constantly exploring, accumulating experience, and paving the way for future success.

And your joining is the guarantee of success. Without you, there would be no company. Here, on behalf of all the management of the group company, I would like to express my most sincere welcome and best wishes for your joining. "

Yang Cheng just opened his mouth for such pretty words without nutrition, and he didn't even need to type the manuscript.

And he wasn't going to make a long speech. Being able to show up had already proved that he, as the company boss, attached great importance to new employees.

So less than 2 minutes after being on stage, Yang Cheng finished his speech, "I wish you a pleasant evening again. I brought a few bottles of good wine from home. If you are interested, you can try it. The dance party in a while, I will A private award of $50,000 is given to the top performing pair.

The power is in your hands, who do you think this bonus should go to.

So, come on, I look forward to your wonderful performance. "

Yang Cheng drank the champagne in the glass in one gulp, walked off the stage, and Martinez came back on stage. The boss had a whim and organized a dance competition. Naturally, he had to cooperate with the organization and not be anticlimactic.

Fortunately, the 50,000 US dollars is divided equally between two people, which is almost half a year's salary, and it will not cause the employees to fight each other. The overall atmosphere is still very harmonious.

After getting off the stage, he put the empty wine glass on the waiter's tray and asked Susu, "How am I doing?"

Su Su cutely gave a thumbs up, "Great~"

Yang Cheng was about to say a few words when she saw Eddie approaching and waved, "Where did you go?"

Eddie's hair has been cut a lot, although it is still very curly, but he looks a few years younger." "The New Yorker" held an internal awards dinner in the banquet hall next to it, and happened to meet an old friend, and went over to chat for a few words , David Remnick."

Yang Cheng thought for a while, "Is it the editor-in-chief of The New Yorker? I've heard of him."

Eddie affirmed,

"Yes, he revealed a piece of news to me. This year's Pulitzer, the New York Times may win the Public Interest Service Award."

Yang Cheng shrugged, "This is a good thing, because of Harvey Weinstein's report?"

"I guess so, but who knows, those Pulitzer guys always like to be different."

Yang Cheng laughed, "Well, I have nothing to refute."

Eddie looked left and right, hesitated to speak, Yang Cheng immediately stepped back a few steps when he saw this, and followed Eddie to a corner on the side of the stage, "What's wrong?"

"During the chat just now, David inadvertently disclosed a piece of news. He said that "Vogue" and "New Yorker" were going to lay off staff again, because the parent company suffered heavy losses and had to reduce expenditure through layoffs."

Yang Cheng didn't think much about it, "It's a pity, traditional media is really declining now."

Eddie further reminded, "I think this is good news for us."

Yang Cheng was slightly taken aback, "What do you mean?"

Eddie said in a roundabout way, "There was news last year that Apple intends to acquire Condé Nast Group, which is the parent company of The New Yorker and Vogue."

After a pause, Eddie whispered, "I have conducted a private investigation, and last year Condé Nast lost more than 100 million yuan."

Yang Cheng frowned, "Is our magazine's positioning coincide with "The New Yorker" and "Vogue"? Of course, I don't deny the influence of these two magazines."

Eddie hurriedly said, "That's what I value. Our magazines lack international influence, of course, except for Time Magazine, but the others are just regional magazines, which are no different from "New Yorker" and "Vogue". Fabi, and the positioning is not completely overlapped, "The New Yorker" tends to be a comprehensive magazine of literature and art, and has a large number of diehard readers; while the positioning of "Vogue" is even clearer. Considering that our company is about to enter the fashion circle, if To win Vogue..."

Yang Cheng raised her hand, "This reason is very good, let me think about it~"

The banquet hall was very lively, but Yang Cheng was able to ignore the outside voices and fell into deep thought.

The influence of "vogue" in the fashion industry is almost equivalent to Apple's concept of dominating the entire mobile phone market these years. Magazines escort the company. Looking at fashion magazines around the world, is there any more influential than Vogue?

And if I remember correctly, next year is the anniversary of "Vogue", and if it is acquired at this time, the influence of the company will be further improved.

However, the value of "The New Yorker" is far less than that of "Vogue". After all, it is a magazine that is biased towards literature and art, and its audience is relatively small. In this fast-selling era, young people may not be willing to settle down to read paper. For literature, I would rather find an electronic version and read it on my mobile phone.

Thinking of this, Yang Cheng couldn't help asking, "Is it possible to acquire "Vogue" alone? Condé Nast is suffering such a serious loss, selling "Vogue" can recover blood in time."

Eddie wanted to say it was impossible, but then he thought that Condé Nast had packaged and sold his son a few years ago, and then shut down several unimportant magazines. Now, in order to save his life, it is not impossible to sell "Vogue", right?

Well, he admits that such an idea is somewhat subjective. "Vogue" is also an important asset of Condé Nast, just like how poor a person is, can he sell his liver? What's the difference between that and dying directly?

Shaking his head helplessly, he said, "I think it's possible, but it's not very likely. At least compared to buying Condé Nast in its entirety, the possibility of winning "Vogue" alone is too low."

Yang Cheng looked at Eddie unexpectedly, "Why do you sound a little discouraged? But you said you want to buy Condé Nast?"

Eddie rubbed his head, "Sorry, my mind is a little confused now, let me reorganize: I think Condé Nast may be acquired, but no one can say for sure whether they want to sell it or not."

Yang Cheng spit out a word cleanly, "Reason?"

Eddie took a deep breath, slowly cleared his mind, and said, "Condé Nast Group has always relied heavily on printed magazines and has no other business involved. The advertising revenue of magazines accounts for 90% of the overall revenue, or even more. And with the full rise of social media in recent years, Condé Nast’s advertising revenue has shrunk severely.”

Yang Cheng said coldly, "You don't need to emphasize this point, all traditional media are facing the same problem."

Eddie nodded, "That's right, so whether Condé Nast can sell or not depends on whether it has a new source of income on the one hand, and whether the major shareholders have the ability to continue blood transfusions on the other."

Yang Cheng interrupted again, "I really don't know, who is the major shareholder of Condé Nast?"

Eddie hesitated for a moment, "It seems to be the Newhouse family. The founder has passed away for many years, and the inheritance belongs to his children. There is no way to say in terms of financial resources. They must have no money. It is basically impossible to expect blood transfusions from them, so Condé Nast can only rely on themselves. .”

Yang Cheng hugged her shoulders, thoughtfully, and raised her chin, "You continue~"

"In the past few years, Condé Nast, aware of the problem, has carried out all-round reforms, shut down a number of regional magazines such as Details, Self, Lucky, and sold Fairchild Media, which owns publications such as WWD and Footwear News, in 2014.

In addition, several magazines under Condé Nast have adjusted their print and publication cycles. The youth fashion magazine "Teen VOGUE" is expected to undergo a comprehensive digital revision. , women's fashion monthly magazines Allure and Glamor, household life monthly magazine AD has been reduced from 12 issues to 11 issues per year, and food monthly magazine Bon Appétit has been reduced from 11 issues to 10 issues.

The all-round digital transformation is in full swing. In addition to the official websites and social media accounts of various magazine brands, Condé Nast is also preparing to launch an exclusive online platform based on the most popular fashion, style and beauty content of each of its media brands. Maximize the influence of advertisers.

In addition to retaining traditional market-competitive magazine brands such as VOGUE, GQ, The New Yorker, Vanity Fair, and Wired, Condé Nast also acquired the well-known online music magazine Pitchfork last year, and established an emerging media brand targeting LGBT+ xing minorities.

I think that if Condé Nast can make some achievements in the digital field in the next one to two years, the possibility of selling itself will be infinitely close to zero. "

Yang Cheng smiled, "It seems that you have done a lot of preparatory work in private, but I think there is another explanation - Condé Nast is constantly sorting out and optimizing its business, and it is very likely that it is for a good price in the future."

Eddie stayed for a moment, he wanted to refute, but although Yang Cheng's point of view was unique, it was not unreasonable. Thinking about the basis he gave, it really seemed that he was trying to lose weight, just to be more beautiful when selling his body. higher price.

Yang Cheng further said, "And I think the Newhouse family, I'm afraid the most want to get rid of the burden, I don't think a group of prodigal sons will have the integrity of traditional media people, stick to the brand and not bow their heads for money."

When he said this, there was inevitably a hint of sarcasm in his tone.

"If the founder of the Newhouse family is still alive, I might not say that, after all, the inner persistence of the older generation of media people is still very strong.

We must know that those traditional newspapers and periodicals that rely on subscription and advertising revenue have been retreating steadily since the global financial crisis in 2008. First, the market was seized by the Internet, and then the right to speak was seized by social media. The newspapers that are still alive today are all in the industry. A well-known brand, how to make good use of it and give full play to the maximum value of the brand, tests the psychological bottom line and psychological defense line of every stickler. Obviously, the Newhouse family does not have such characteristics. "

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