Quartz's Digital Media Strategy Begins to Crystallize
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When Atlantic Media introduced business-news publication Quartz in September 2012, it spent about $10 million on the launch, according to people familiar with the matter. That’s a far cry from the more than $100 million Cond Nast dropped in 2007 rolling out its glossy business magazine, Portfolio. After just two years, amid stiff economic headwinds, Portfolio folded.
Unlike Portfolio, Quartz is digital only — existing purely as a web and mobile site. Two years after its introduction, Quartz has surpassed 10 million monthly readers in the U.S., reached eight figures in revenue and moved into a larger office in New York City to accommodate its growing staff. Last year, Quartz hired 30 new employees. There are nearly 30 job openings on its career site now.
“Quartz is a breath of fresh air, especially compared with the legacy publishers,” said Brian Ko, managing partner-digital at media agency MEC. “It’s also, for lack of a better word, innovative,” he added, citing Quartz’s sleek, mobile-first look and emphasis on native advertising, where ads are meant to look like editorial content on the site.
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