Chapter 1298： The New Yorker and vogue

Good evening, ladies and gentlemen, this evening belongs to every employee who has officially joined New Times Media. "

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

"In fact, just like you, our company is a newcomer throughout the United States and the world. It is constantly exploring, accumulating experience, and paving the way for future success.

Your joining is the guarantee of success. Without you, the company would not exist. Here, on behalf of all the management of the group company, I would like to express my sincere welcome and best wishes to your joining. "

Yang Cheng opened his mouth and came up with such beautiful words that were not nutritious.

Moreover, he was not prepared to make a long speech, and was able to show up. He has proved that he, as the boss of the company, attaches great importance to new employees. This is enough. No matter how much he said, he does not have the reality of timely payment of salary and bonuses from time to time.

So in less than 2 minutes on stage, Yang Cheng concluded 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 taste it. I will have a dance party for a while. A private reward of $50,000 is given to the pair with the best performance.

The power is in your hands. Who do you think should be given this bonus?

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

Yang Cheng killed the champagne in the glass in one gulp and walked off the stage. Martinez returned to the stage. The boss had a whim to engage in a dance competition. He naturally had to cooperate with the organization to do a good job.

Fortunately, the 50,000 US dollars is evenly divided between two people, which is almost half a year's salary. It is not enough to let the employees fight for a bloodshed. 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 Su Su, "How am I doing?"

Susu gave a cute thumbs up, "Great~"

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

Eddie’s hair has been cut short. Although it’s still very curly, he looks a few years younger. "The New Yorker hosted an internal awards dinner in the banquet hall next to him. When he met an old friend, he went over to chat. , David Remnick."

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

Eddie affirmed, "Yes, he revealed to me that 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 independent."

Yang Orange laughed, "Well, I can't refute it."

Eddie looked left and right, he stopped talking, Yang Cheng saw it, and immediately stepped back a few steps, and followed Eddie to the corner on the side of the stage, "What's the matter?"

"During the chat, David accidentally revealed a piece of news. He said that "Vogue" and "The New Yorker" are going to lay off staff again, because the parent company has suffered serious losses and must cut down expenses through layoffs.

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

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

Yang Cheng was slightly startled, "What do you mean?"

Eddie said roundly, "Last year there was news that Apple was interested in acquiring Condé Nast, the parent company of "The New Yorker" and "Vogue."

After a pause, Eddie whispered, "I have privately investigated, and Condé Nast Group lost more than 100 million yuan last year."

Yang Cheng frowned. "Our magazines overlap with "The New Yorker" and "Vogue", right? Of course, I don't deny the influence of these two magazines.

Eddie hurriedly said, "I just value this. Our magazine lacks international influence. Of course, except for Time Magazine, the others are only regional magazines, unlike the 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. The positioning of "vogue" is clearer, considering that our company is about to enter the fashion circle, if Can win "vogue"..."

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

The banquet hall was very lively, but Yang Cheng was able to abandon outside voices and sink into thought.

The influence of "vogue" in the fashion industry is almost equivalent to the concept that Apple has dominated the entire mobile phone market these years. No one can replace it. As Eddie said, after the company decides to enter the fashion industry, it really needs an influential book. Magazines **** the company. Looking at the global fashion magazines, are there any more influential than "vogue"?

And if I remember correctly, next year will be the anniversary of "vogue", when the acquisition is made at this time, the influence of my company will be even higher.

However, the value of "The New Yorker" is far less than that of "vogue". After all, it is a literary and artistic magazine with a relatively small audience. In this fast-selling era, young people are probably not willing to settle down and read paper Literature, I would rather find an electronic version to read on your phone.

Thinking of this, Yang Cheng couldn't help but ask, "Is it possible to acquire "vogue" alone? Condé Nast has suffered such a serious loss, and selling "vogue" can return blood in time."

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

Well, he admits that this kind of thinking is somewhat subjective. "Vogue" is also an important asset under Condé Nast. It's like a poor person, can he sell his liver? What's the difference between going to death?

He shook his head helplessly and said, "I think it's possible, but the possibility is not great. At least compared to the entire acquisition of Condé Nast, the possibility of winning "Vogue" alone is too low."

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

Eddie rubbed his head, "Sorry, my thinking is a little confused now, let me reorganize it: I think Condé Nast may be acquired, but no one can say if they want to sell it."

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

Eddie took a deep breath, slowly clarified his thoughts, and said, "Condé Nast Group has always relied on printing magazines and has no other business involved. Magazine advertising revenue accounts for 90% of the overall revenue, or even more. With the full rise of social media in recent years, Condé Nast’s advertising revenue has shrunk severely."

Yang Cheng said cold-bloodedly, "You don't need to emphasize this point. All traditional media face the same problem."

Eddie nodded, "Yes, so whether Condé Nast can sell it depends on whether it has a new source of income, and on the other hand, whether the major shareholder has the ability to continue blood transfusion."

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

Eddie hesitated, "It seems to be the Newhouse family. The founder has passed away for many years. The inheritance belongs to his children. There is no way to say about the financial resources. There must be no money. It is basically impossible to expect them to have a blood transfusion. So Condé Nast can only rely on itself. ."

Yang Cheng hugged his shoulders, thoughtfully, and punished his chin, "You continue~"

“In the past few years, Condé Nast, which is aware of the problem, has carried out all-round reforms, shutting down many regional magazines such as Details, Self, Lucky, and in 2014 sold Fairchild Media, which has publications such as WWD and FootwearNews.

In addition, many of Condé Nast's magazines have adjusted the printing and publishing cycle. The youth fashion magazine "TeenVOGUE" is expected to undergo a comprehensive digital revision. The high-end fashion magazine W and the travel magazine "CondéNast Traveler" will be reduced from 10 issues per year to 8 issues. Men's fashion monthly GQ, women Fashion monthly magazines Allure and Glamour, home life monthly magazine AD have been reduced from 12 issues to 11 issues a year, and food monthly magazine BonAppétit has been reduced from 11 issues to 10 issues.

All-round digital transformation is in progress. In addition to the establishment of official websites and social media accounts for 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. Expand the influence of advertisers.

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

I think that if Condé Nast can make a difference 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 preparations in private, but I think there is another explanation-Condé Nast keeps combing and optimizing its business, it is very likely to sell a good price in the future."

Eddie stayed for a moment He wanted to refute it, but Yang Cheng’s point of view was unique, but it was not unreasonable. Thinking about the basis he gave, it really seemed to be losing weight, just for selling. It’s more beautiful at times and sells for a higher price.

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

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

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

You must know that traditional newspapers and periodicals that rely on subscription and advertising revenue have been retreating since the global financial crisis in 2008. First, the Internet was seized by the Internet, and then by social media. The newspapers and periodicals that are still alive are all in the industry. A somewhat well-known brand, how to use and maximize the value of the brand reasonably, and test the psychological bottom line and psychological defense line of each stick to it, it is obvious that the Newhouse family does not possess such characteristics. "

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