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Article: ANALYSIS - AUSTRALIA'S MAGAZINE INDUSTRY STILL STRUGGLING.
- Article from:
- AsiaPulse News
- Article date:
- July 6, 2001
CopyrightCOPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BRISBANE, July 6 Asia Pulse - After six months on the ropes Australia's punch-drunk magazine industry remains in limbo, lacking the will for major consolidation but also lacking the ability to thrive without it.
Too many magazines, consumers cutting back on discretionary spending and lower advertising revenue has hit the sector.
Even the big guys are struggling with Australia's second largest magazine group the PMP Ltd-owned Pacific Publications battling under the weight of more than $A500 million ($US257.25 million) of debt.
Despite months of enduring a horrid market, a cancelled launch, news of tightening revenues and another magazine closure, ...