Hearst has announced that monthly women’s magazine Company is to go digital-only.
The news comes as the magazine industry gets its six-monthly audit of sales figures from ABC today.
In the last six months of 2013 sales of Company fell 32 per cent year on year to an average of 88,059.
It has alread withdrawn from ABC auditing so will not get a finaly sales figure today.
Nearly every title in the women’s health/lifestyle magazine sector is losing sales year on year.
Last year Grazia was down 14.2 per cent year on year to 160,019, Cosmopolitan fell 9.5 per cent to 279,127 and Elle UK fell 14.2 per cent to 166,680.
But Company was by far the biggest faller in the sector.
Describing Company as "the brand for street-style-obsessed young British women" Hearst said it would become digital-only from October.
It said: "The move will allow Company to focus its editorial efforts on supporting the desires of its 16 – 24 year-old female audience through its award-winning digital properties.
"In the past six months alone, traffic to Company.co.uk has increased by 46 per cent, with return visitors up 99 per cent and social traffic up more than 140 per cent, demonstrating an increased demand from this key audience for relevant, striking and street-wise digital content available at their fingertips."
The October 2014 issue of Company magazine, on sale on 5 Sept, will be the last monthly print issue.
Hearst Magazines UK chief executive Anna Jones said: “As a standalone digital brand, Company is well placed to provide a unique and dedicated service to this dynamic 16-24 old female demographic. Company already has a strong social presence across Twitter, Instagram, Facebook and YouTube and this focus will ensure this audience remains a key part of Hearst’s product portfolio.
"Company Magazine has earned a loyal following since its original launch in 1978 and I’d like to thank the hard-working editorial team, led by editor-in-chief Victoria White, for their continued dedication and passion as we take the brand into this next phase.”
In 2004 Company had monthly sales of more than 330,000.
Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog
