Reader’s Digest in Trouble

(Image source: TheStar)

I recall getting old Reader’s Digest magazines from one of the neighbours when I was small and in recent times, been getting the latest editions from my yearly subscription.

There are 2 things I like about the Reader’s Digest is 1. the small size of the magazine (about 18.5 cm x 13.5 cm). It is easy to store or bring it along during a travel and 2. the contents. There is no specific theme – there is humour, real-life story, word-quotes, environment, technology, condensed fiction, crime and history. In other words, there is something for everyone in the magazine.

A short profile of the magazine:-

Reader’s Digest is a monthly general-interest family magazine co-founded in 1922 by Lila Bell Wallace and DeWitt Wallace, and based in Pleasantville, New York, United States of America.

The Audit Bureau of Circulation says Reader’s Digest is the best-selling consumer magazine in the USA, with a circulation of over 5.5 million copies in the United States, and a readership of 38 million as measured by Mediamark Research (MRI).

According to MRI, Reader’s Digest reaches more readers with household incomes of $100,000+ than Fortune, The Wall Street Journal, Business Week and Inc. combined. Global editions of Reader’s Digest reach an additional 40 million people in more than 70 countries, with 50 editions in 21 languages.

It is also published in braille, digital, audio, and a version in large type called Reader’s Digest Large Print.

(Source: Wikipedia)

However, despite interesting readership statistics, the magazine is in serious trouble and has filed for bankruptcy protection.

Reader’s Digest Association Inc., publisher of the iconic general interest magazine that began gracing American homes in 1922 and now reaches a worldwide audience of 130 million, filed for bankruptcy protection Monday as it faces falling print circulation in the Internet age and looming debt payments.

Reader’s Digest said the prearranged bankruptcy filing, which only affects U.S. operations, would give lenders a 92.5 percent ownership stake in exchange for lowering its indebtedness to $550 million from $2.2 billion.

(Source: TheStar)

This probably explains why in the recent times, the number of ads in the magazine have kept increasing.

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2 thoughts on “Reader’s Digest in Trouble

  1. I’ve been toying with the idea of canceling my subscription. It’s been 10 years aledi, and I’m beginning to lose interest in RD. Was thinking to shift to other genre-specific mags.

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    1. Lately RD been giving more focus on environment which is good but at the same time, the number of pages “dedicated” to ads been increasing. Sometimes I get this feeling that I am wasting half of my subscription on the ad pages, sigh.

      Like

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