Hearst’s Carey on Missing its Prediction for 1 Million Digital Subscriptions
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Hearst Magazines had “nearly 800,000” individually paid monthly digital subscriptions by the end of 2012, the company said Wednesday, apparently more than any competitor but well shy of the 1 million that Hearst had long anticipated.
Hearst, the publisher of magazines such as Cosmopolitan and Esquire, said all the way back in November 2011 that the 1 million mark was on the horizon. “We do expect in 2012 at some point to be able to have more than a million on e-subscriptions,” Hearst Magazines President David Carey said at an event then.
Mr. Carey reiterated that figure in January 2012 but cast it as a goal. “Our target is to reach more than 1 million paid digital subscribers per month via iTunes, Zinio, Nook, Amazon and Next Issue Media,” he wrote in a letter to staff describing objectives for the year.
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