Newsweek went through the numbers and determined that, at the rate advertising in Condé Nast magazines has dropped, the company could see a $1 billion loss in 2009.
For the eight months ended in August, ad revenue plummeted by more than a quarter to $1.5 billion from the year-earlier $2.1 billion. Among the hardest hit titles are Architectural Digest, off by almost half to $54 million from $102.4 million; Condé Nast Traveler, down 42 percent to $62.1 million from $106.6 million; Wired, down 35 percent to $33.4 million from $51.8 million; and Vanity Fair, off about 27 percent to $101.8 million, from $138.8 million.
This gives the recent bloodbath a little more context, and serves as a chilling reminder that the company is not nearly out of the woods yet.
Just How Much Did Conde Nast Lose? [Newsweek]