Immediate Media is planning to cut up to 113 jobs and close 12 magazines after the Covid-19 crisis badly hit newsstand sales and advertising revenue.
Seven of the magazines set to close are based in Bristol and fall within the craft, home and specialist categories, with the other five titles based in London and aimed at children.
The publisher said that although it has seen “impressive growth” in print subscriptions and digital audiences since the pandemic began, it has been significantly negatively impacted in some areas of the business by the downturn in the advertising market and falling newsstand sales as people stayed home during lockdown, and overseas sales.
“In order to the protect the long-term future of Immediate we have embarked on a cost-saving project across the business, which unfortunately will include some redundancies and the closure of some brands in our craft and homes portfolio and the phased closure of some of our youth and children’s titles,” a spokesperson said.
“We have now entered into a consultation process with the impacted people and will be doing all we can to support them during this difficult time.”
The craft, homes and specialist titles set to close with their next planned issue are: Cross Stitch Crazy; Cross Stitch Gold; EKBB (Essential Kitchen Bathroom Bedroom) Consumer; EKBB Business; KBB Daily (website); Card Making and Papercraft; and In the Moment.
Print production for some of Immediate’s consumer titles had all already been paused earlier in lockdown.
Immediate bought EKBB and KBB Daily from Hubert Media last year when they hoped to maximise the brands’ “long-term potential through being part of a bigger portfolio of home interest and lifestyle brands”.
Immediate launched monthly magazine In the Moment in 2017 with an editorial team of seven to address various aspects of women’s lives including “friends, family, self, work, rest and play” with a focus on good mental health and mindfulness.
Cross Stitch Crazy launched in 1999 and claimed a readership of 24,400. Card Making and Papercraft came four years later and recently claimed an audience of 58,900 (Immediate’s own figures).
The children’s titles expected to close in a more phased fashion over the next few months are: Toybox; Lego Friends; Lego Hidden Side; Star Wars Galaxy; and Disney Playtime.
Toybox has a print circulation 24,700 according to Immediate’s website. ABC figures show that in the second half of 2019, Lego Friends had a circulation of 23,379, Lego Hidden Side was on 21,327 and Disney Playtime had 19,237 readers.
Other publishers who have already closed magazines since the pandemic began include: Bauer (five magazines including Q), Future (six titles including the Official Xbox Magazine), Kelsey Media (Boxing Monthly), and Interactive Investor (Moneywise and Money Observer).