Hearst is taking a rare, bold step: It’s launching a new magazine — titled HGTV Magazine — in October, even though the economy is as depressed as Drake without a sweater. According to the New York Times, the magazine is only a “test,” with two issues planned so far, making it even more of a gamble. At least Michael Clinton, Marketing President and Publishing Director for Hearst understands that.
“I think advertisers want a little more facts behind things before you launch,” said Clinton. “I think that’s changed over the last few years. In the go-go years of the early 2000s, a lot of advertisers would take a lot of fliers on a lot of new things. Now in a post-recessionary world, they scrutinize their budgets a lot more.”
So why would Hearst decide to go through with this?
It thinks the success of HGTV will rub off on the title. Also, the magazine is focusing on budgetistas (ugh, we promise to never write that word again). Sara Peterson, Editor-in-Chief of HGTV Magazine, told the Times, “It [the magazine] doesn’t feel intimidating and off-limits. This is an accessible and relatable ‘you can live like this’ magazine.”
Just how many people think they need a (new) magazine to show them how to live remains to be seen.