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Celebrity weekly OK! magazine announced today that it will reduce its rate base to 800,000 from 900,000, retroactive to the issue dated July 6, 2009.
The adjustment, according to a company statement, was made to generate profit while delivering a reduced reliance on verified circulation and agency-sourced subscriptions. Advertising rates are also being reduced in line with the adjustment.
“We are confident of exceeding the new rate base and have adopted the position of under-promising and over-delivering to our advertisers,” Lori Burgess, publisher, OK! Magazine, said in the statement. “We’ve brought the magazine to profitability and wish to be totally transparent and open with the advertisers who have supported us so magnificently. Therefore, we’re reducing unprofitable public-place and agent-sourced copies.”
OK’s newsstand sales fell 20.4 percent to 398,360 copies during the first-half of 2009, according to ABC’s Fas-Fax report. The title’s total paid and verified circ during the same period was 809,292—a 10.6 percent decline from the same period last year. Its reported use of verified circ also declined during this period by 2 percent to 77,000 copies.
Overall, newsstand sales for most titles in the celebrity weekly category have been down due to sales losses and delays caused by the shutdown of Anderson News’ wholesale operations. After OK!, In Touch Weekly saw one of the biggest declines in single copy sales during the first-half of ’09 at 18 percent followed by Star (-13 percent), Life & Style Weekly (-8 percent), and Us Weekly (-3 percent). Entertainment Weekly posted the only newsstand growth with a modest 0.9 percent.
In Touch also saw the biggest decline in total paid and verified circ with a 16.2 percent decline followed by Star (-12. 3 percent) OK!, Life & Style (-7.5 percent) and Entertainment Weekly (-1.9 percent). Us Weekly was the only major celebrity weekly to see an increase in paid circ by 2.1 percent.
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