In a New Year's letter to employees, Hearst Magazines President David Carey painted an optimistic picture for 2012, citing positive growth in 2011 and reiterating the publisher's commitment to both print and digital growth.
"By embracing the future, and all that goes along with it - the capital investment, the expansion into new geographies, the risk taking, the rethinking of long-held orthodoxies - we remain the leader in our industry," Carey wrote in the letter.
In 2011, Hearst Magazines saw the acquisition of Hachette Filapacchi and Lagadére, the launch of HGTV Magazine (in partnership with Scripps Networks) and the opening of its App Lab. The publisher also began converting all of its websites to HTML 5 to increase functionality across platforms.
"HTML5 features mean that consumers have access to the information they need, right on the spot, anywhere they are," Mark Weinberg, vice president of programming and product strategy, told News & Tech about the project late last year. http://www.newsandtech.com/news/article_d25030ae-0a3e-11e1-aca2-001cc4c002e0.html."> See the full article on Hearst's HTML5 conversion here.
Carey reminded employees that the publisher's core print business continues to gain share in a tough market, and said Hearst aims to reach more than 1 million paid digital subscribers per month via outlets including iTunes, Zinio, Nook, Amazon and its Next Issue Media endeavor.
"We established an enviable position in the fast-growing e-reading space and are now selling more than 400,000 digital editions every month," he said.
Carey said 40 percent of Hearst Magazines' revenues come from U.S. print and digital, while 40 percent come from international print and digital. The remaining 20 percent, he said, is generated from services, including iCrossing and CDS Global.