InStyle magazine announced the termination of its publication's print issues. The Wall Street Journal broke the news about the media giant, Dotdash Meredith.
The announcement came after the $2.7 billion merger of the New York-based Dotdash and Meredith two months ago.
InStyle is part of six magazine labels purchased by Meredith Corporation last year, going all-digital in 2022. The other five are Entertainment Weekly, EatingWell, Health, Parents, and People en Español.
When will InStyle’s last print issue launch?
The last publication of InStyle will be released in April 2022. Reportedly, the step towards launching a digital magazine will result in the loss of around 200 jobs.
On Wednesday, Dotdash Meredith CEO Neil Vogel issued a memo to his staffers stating:
"We have said from the beginning, buying Meredith was about buying brands, not magazines or websites. It is not news to anyone that there has been a pronounced shift in readership and advertising from print to digital, and as a result, for a few important brands, print is no longer serving the brand's core purpose."
As reported by Forbes, Vogel further clarified that the move does not signify “another nail in print’s coffin.” He added that the company has planned to increase its 19 other print publications by upgrading and refining paper quality and changing sizes. He also stated that the company will invest $80 million in 2022 across all its digital properties.
Speaking to Forbes, a Dotdash Meredith spokesperson commented on the company’s latest plan and job losses, saying:
“These employees have helped create some of the best media brands in the world. We thank them for their years of dedication and are committed to helping them make a smooth transition.”
Another spokesperson from Dotdash Meredith spoke to the Fashionista and remarked:
"InStyle has become one of our most vibrant digital properties, seeing online growth of more than 40% year-over-year. InStyle will continue to grow and thrive online, and benefit from the big investments we are making across all of our brands in 2022."
InterActiveCorp (IAC), a subsidiary of billionaire Barry Diller’s conglomerate, struck a $2.7 billion deal to acquire Meredith in October 2021. The latter was made part of IAC’s digital publishing group, DotDash, and rebranded as DotDash Meredith.
Given the shift in readership, the media conglomerate has continued to digitalize. Alongside this, several significant publications have either shuttered or acutely restricted their print editions in the last few years, including names like Marie Claire, Saveur, O Magazine, Teen Vogue, and Nylon.