Vibe Cuts Rate Base and Ups Cover Price
As many music mags have seen recently, Vibe’s ad pages have been plummeting in recent months. In order to compensate for the loss, Vibe will cut its rate base from 850,000 to 800,000 and hike up the cover price from $3.99 to $4.99. Steve Aaron, CEO of Vibe Media Group, reported that sales did not fall when they tested the price hike this past winter. Falling ad pages are not solely to blame for Vibe’s woes. Since the private equity-backed Wicks Group of Companies took it over in July 2006, the title has lost several top execs. Some close to the company speculate that Wicks has been quietly looking for potential buyers of the magazine. However, Aaron denies such talk. MediaWeek (May 9, 2008)
Tags: ad sales, Steve Aaron, Vibe, Wicks Group of Companies