April 2, 2009

Maxim magazine to close this month after sales slump

Maxim, the men’s magazine, is to cease publication and go online-only after a slump in sales.

At its peak in the second half of 2000 – five years after it launched in 1995 – Maxim sold 328,463 copies a month, according to ABC.

But in the second half of 2008, it sold just 45,951 – 41.4 per cent down year on year.

The June edition, out on April 23, will be the last. Owners Dennis Publishing said “the future of the brand was online”.

The number of job losses has not been confirmed, but a spokesman said: “The Maxim brand team comprises of 12 people. Dennis Publishing is in a period of consultation with all of the Maxim team to discuss future opportunities.”

The news comes a month after Bauer Consumer Media announced Arena, Maxim’s former rivalin the monthly men’s magazine market, was to close.

Dennis will now be the sole importer of the US version of Maxim, and will place it on newsstands. Subscribers to the UK edition will be able to switch to the US version, or to other Dennis titles.

Chief executive of Dennis, James Tye, said: “The Maxim brand remains the best-selling men’s lifestyle magazine in the world, but Dennis Publishing must move with the times and recognise that the future of the brand in the UK is online.

“We are extremely proud of what Maxim UK has achieved: as a print magazine, it was at the forefront of the UK lifestyle market and as a website it will continue to inform and entertain thousands of readers every day.”

A company statement added: “Since its launch in 1995, the award-winning Maxim brand has addressed the real-life needs of intelligent, professional, 20-something men in an entertaining and informative way. The brand quickly became the biggest-selling men’s lifestyle property in the world.”

The website, which launched in 1999, has 500,000 unique users per month, according to Dennis, and 8.2 million page impressions per month. It also has 260,000 subscribers to its weekly email newsletter.

Maxim’s closure is the latest blow to the lads’ mag market.

In the second half of 2008, Nuts’ circulation was 234,034, down 13.3 per cent year on year. Zoo’s was 145,555, down 18.7 per cent, FHM’s was 272,545, down 13.5 per cent, and Loaded was 21.7 per cent down to 90,071.

By contrast, Men’s Health was up 4.1 per cent to 250,095, while free weeklies Shortlist and Sport have distributions of 505,970 and 317,257 respectively.