Anthill Magazine latest victim of global crisis

The global financial crisis has claimed another victim, with Anthill Magazine, aimed at investors and fast growth companies, set to go quarterly.

Publisher James Tuckerman (right), who launched the magazine in 2003 after quitting corporate PR to combat the “snoringly dry” personality of the Australian business media, says that after months of soul searching the magazine will move from its current bi-monthly. It will also have a price increase from $7.95 to $9.95.

He says the subscriptions and the retail side of the business had been going well, with circulation (including subscriptions, agency sales and newsstand copies) reaching between 18,000 and 24,000. “That includes magazines to Virgin, Qantas, Borders and returns that go to conferences,” he says.

However large advertisers had cancelled or delayed spending on campaigns, which had hit the business badly. “The overheads involved in printing are so high,” he says. Rising paper prices and petrol prices had also affected the bottom line.

The business model was also complex. “We had four revenue channels and we had to produce a new product (the magazine) every two months,” he says.

He says that at one stage in its six year history the magazine was quarterly. “It’s not the first time we have had to shift. The quarterly magazine will be bigger, fatter and fuller, and we’ll load it up with classifieds.”

The magazine market, particularly business, has been hit hard by the downturn. The Bulletin folded last year and other magazines are struggling. “Mad magazine just went quarterly,” he says.

For now, Tuckerman says he will concentrate on building an online presence.

Does he prefer it? “I am a sucker for the print model. Print is more contemplative and you can delve deeper, but online is where people can go and find more news more regularly.”

Tuckerman says he has spent the past three years wondering about an exit and is still considering one. Like other publishers of small publications (see SmartCompany’s interview with Reuben Buchanan) he has found it gruelling.

“Last year I injured my back for three months,” he says. “I was lifting boxes at CEBIT and felt something explode.” He says at the time there were questions over whether he would ever walk again.

He is also planning to take two months off to go to Europe on his honeymoon. “We went through three months without me at the helm.”

As for what is next after Anthill? Definitely another entrepreneurial venture, but not necessarily in publishing. “It will be in what interests me at the time.’

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