Inside The Hearst Media Empire with David Carey | Inside Fashion

The Business of Fashion Podcast

The Business of Fashion

Fashion & Beauty, Business, Arts

4.6 • 770 Ratings

🗓️ 16 February 2018

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this episode of “Inside Fashion”, Imran Amed sits down with David Carey, president of Hearst Magazines, one of the world’s largest publishers of monthly titles including Elle, Marie Claire, Harper’s Bazaar and almost 300 more.

Speaking about the future of the print magazine industry in the digital media landscape, Carey explains Hearst’s unique acquisition and investment strategies, how magazine businesses can adapt to diminishing advertising revenue and how the industry has changed over the course of his career.

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Transcript

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0:00.0	If you like knowing that you can participate in an organization that is changing and evolving
0:07.0	against industries that change and evolve, it's super exciting and tons of upside.
0:12.0	I guess the only thing for my own career that's been beneficial is I've always been drawn
0:17.0	to brands that are at inflection points, launches, turnarounds, businesses that are broken.
0:23.6	When I got my job at The New Yorker, it had 10 years of losses.
0:26.6	What makes a great magazine business?
0:29.6	Tell us about the fundamentals of a successful business in this industry.
0:34.6	I'm very fortunate that if you asked me at age 20 what I hope to do for my career, I would
0:40.7	want to run a magazine media company.
0:42.8	So I've been very blessed in working very diligently, you know, year after year.
0:49.0	Hi, I'm Imran Ahmed, founder and CEO of the Business of Fashion and welcome to the B.O.F. podcast.
0:56.1	On this week's episode of Inside Fashion, I'm joined by David Carey, or rather I joined David Carey at
1:03.5	the headquarters of Hearst, one of the world's largest magazine publishers based in New York
1:09.7	City. And looking out from his expansive vista uptown in New York, David and I discussed the future
1:17.6	of the publishing industry. It was a particularly interesting conversation for me because, of course,
1:22.6	we at BOF are doing our own work in the world of media and publishing.
1:28.0	As some of you may know, BOF started as a blog that I started writing on my sofa back in 2007,
1:35.8	having spotted an opportunity to provide an informed analytical point of view on the business
1:41.8	of fashion.
1:43.1	So it was really interesting to talk to David about
1:46.0	how he sees the media industry evolving in a time of digital and technological disruption.
1:52.0	Around a year ago, we launched BOF Professional. It's our exclusive membership program for
	...

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