Hallmark Magazine to be Discontinued
KANSAS CITY, Mo. (February 24, 2009) — Hallmark Cards, Inc. announced today that it will discontinue publishing Hallmark Magazine with the February/March issue now on newsstands. The Hallmarkmagazine.com web site also will close.
The decision was reached after a comprehensive analysis of the current business and trends facing the magazine publishing industry as a whole, said Donald J. Hall, Jr., Hallmark president and chief executive officer of the privately-held company.
“Despite favorable consumer acceptance of the publication, we cannot justify continued investment in the magazine at a time when we must focus our efforts and resources only on those projects that will lead to long-term profitable revenue growth for the company,” Hall said.
“In just under three years, the staff in the magazine’s New York office and the creative team in Kansas City accomplished a great deal, creating a product that beautifully reflected the brand and reached consumers in new ways,” he added. “But, with the overall industry clearly struggling for the foreseeable future, we could not justify further investment.”
Hallmark Magazine launched with a September/October 2006 premier issue and a rate base of 400,000. The February/March 2009 issue reached a rate base of 800,000. Advertising pages also increased steadily including a 30 percent increase in 2008 over the prior year. Content focused on family, friends, home, communities and celebrations, bridging a gap between sophisticated lifestyle titles and traditional women’s publications.
Hallmark Magazine has 28 employees. The decision also will impact ten positions in Hallmark’s Kansas City-based creative division. All will be provided with severance and outplacement support.
About Hallmark Cards, Inc.
Kansas City-based Hallmark has been helping people communicate, celebrate and connect for nearly 100 years. Hallmark greeting cards and other products can be found in more than 43,000 places in the U.S. alone, with the network of Hallmark Gold Crown® stores providing the very best selection. The Hallmark brand also reaches consumers online at Hallmark.com and on television through Hallmark Hall of Fame original movies and the top-rated Hallmark Channel. In addition, Hallmark publishes products in more than 30 languages and distributes them in 100 countries across the globe. The company’s Crayola® subsidiary provides fun and imaginative ways for children to colorfully express themselves. In 2007, privately held Hallmark reported consolidated net revenues of $4.4 billion. For more information about the company, visit http://corporate.hallmark.com.