March 11 issue
Monsanto - cover back page
Cornell University Press - full page
Why Priests? A Failed Tradition, book from Viking - full page
Stanley Kauffmann book,from Sheep Meadow Press - 1/4 page
University of Nevada Press - full page
Princeton University Press - back page
Total number of full ad pages - 5
Why? Part of the problem is that Chris Hughes put together a major redesign but forgot to have the basic business infrastructure to sell it. The vp of sales, Jennifer Hicks, only came on in November. Before she came on, Hughes met and pursued several major publishers at other successful magazines, even the weekly variety, but he was turned down. The message back to him was that TNR was a significant challenge, with almost no identity or evident value to advertisers. General Motors doesn’t care that the White House has a standing order of 130 copies to the New Republic. When Hicks came on, it was already too late to take advantage of the momentum behind the redesign, as a major media buyer told me.
Anyway, the second issue to come after the redesign carried 7 full pages including a house ad.
And the big redesign issue, which presumably had been shopped around to advertisers as the big rebirth of TNR (the media kit said the magazine was repositioned to be “the most prominent media brand of the 21st century”), you’ll recall, had nine paid-for pages. Taking the magazine’s rate card at face value, they charged $10,000 for each of those pages, assuming - and this is a big benefit of the doubt - the University of Nevada Press paid full price and did not get a discount.
For some reference, consider a particularly thick issue of the magazine from March 2010, when Peretz still called the shots. An illustration of Rahm Emanuel was on the cover. There were seven full ad pages inside.
Of course, the New Republic has other sources of revenue. For instance, online advertising - part of their pitch to advertisers is integrating online, app, and print media buys.
There’s also circulation - in March, when Hughes bought the magazine, it was about 35,000, according to the magazine’s in-house figures. In January, Hughes told the Times circ had somehow grown to 44,177.