CNET reported yesterday that Hearst Magazine President David Carey said that he expects to reach a million digital subscribers by the end of 2012, due in large part to the success of Apple’s iPad and the ease of the new-to-iOS 5 Newsstand. Hearst initially resisted selling its titles on the iPad, insisting Apple’s revenue cut was too big. Now it seems that both companies are benefitting.
Hearst currently has about 400,000 digital subscribers across all its decices, including the Amazon Kindle and the Barnes and Noble nook. Hearst publishes 19 of its titles digitally, including Popular Mechanics, Cosmopolitan, and Esquire.
Joe Aimonetti concludes his article on CNET by stating that magazines and the print industry in general have been under extreme pressure over the last couple years as tablet computing and smartphone usage has dominated media consumption. Finding partners like Apple to continue selling their content at a reasonable profit should be high on any print company’s list.