After five years, TC Media has determined it can no longer do More with less.
Citing a “challenging” economic climate, the Montreal-based company announced Wednesday that it is closing More Magazine and its French-language counterpart Vita after five and four years, respectively.
The publications’ December/January issues will be their last, with the associated websites being closed over the coming weeks. The latest circulation data from newly rechristened Alliance for Audited Media (formerly ABC) showed More with total paid/controlled circulation of 120,000, and Vita with 74,000.
The two publications employed a combined 17 people, but TC Media said, where possible, it plans to deploy sales and editorial staff to other publications throughout the organization, said Pierre Marcoux, TC’s senior vice-president, business and consumer solutions.
“Right from the get-go the publications showed good positive momentum, but they lost it all during the recession,” Marcoux told Marketing. Marcoux said TC looked at various ways to redefine the publications to keep them afloat, but ultimately decided to focus on established publications like Canadian Living and Elle Canada. “We’ve got extremely powerful brands in the market, so we decided to put all of our focus on those to build and strengthen them and gain a bigger footprint,” he said.
More was launched with considerable fanfare in spring 2007, with a focus on women 40+ and an editorial focus spanning health, beauty and fashion. It was the product of a multi-year licensing agreement between TC (then known as Transcontinental Media) and the U.S. based Meredith Corporation, which first launched More in 1998.
That deal is now officially terminated, said Marcoux, although TC maintains a “very good relationship” with its U.S. counterpart. Meredith, which publishes titles including Better Homes and Gardens and Family Circle, fully understands the advertising environment in which TC is operating, said Marcoux.
TC did consider converting both More and Vita to web-only products, said Marcoux, but determined that costs would have drastically outstripped any potential revenues.
TC Media’s strategy when launching More and Vita was to reach women through various life stages, appealing to women from their 20s through their 60s with titles like Elle Canada, Canadian Living, Homemakers (which closed late last year after publishing for 45 years) and More. In Quebec, Elle Quebec, Coup de Pouce and Vita filled those roles.
Marcoux said the company remains committed to that strategy, with publications such as Good Times and Bel Age continuing to address the older population. “In no way have we abandoned this strategy,” said Marcoux. “We’ve got a good stable of leading publications that serve many interests and age segments.”
TC remains committed to the print medium, said Marcoux, citing last year’s launch of Fresh Juice (produced in association with Loblaws) and the continued vitality of its leading consumer titles.
“We’re still confident and optimistic, and even more when we look at our core brands. The readership is stable and the advertising business is still strong,” he said.
Marcoux said TC is also keen to develop a diversified footprint for its leading brands through extensions like events and merchandising. Asked if the company would be cautious in regard to new print publications, Marcoux responded: “We’ve always been a cautious company.”
