By Paul Pannone
eWedNewz continues our investigation into the failure of Get Married Media and why the company continued to accept advertising dollars at a time when they were hemorrhaging money. The investigation fans out to questionable data and information that was spun to show a healthy company when nothing could be further from the truth.
According to a recent survey by Folio 18 out of a total 128 closures (14%) for the first three quarters of 2011 were bridal magazines.
According to Folio, “The bridal category—along with the regional sector—suffered the most magazine closures during the first nine months of 2011, making up 18 of the 128 titles shuttered, according to a quarterly survey from Mediafinder.com.
Elsewhere in the category, Conde Nast’s Brides magazine saw a 7.1 percent decrease in ad dollars and a 11.1 decline in ad pages in third quarter 2011 versus the same period 2010, according to MPA’s Publishers Information Bureau numbers. Bridal Guide, published by RFP LLC, gained 1.8 percent in ad revenue while losing 3.3 percent in ad pages during that same period, while Martha Stewart Weddings gained 0.8 percent in ad revenue and lost 3 percent in ad pages.
Year-to-date numbers were largely up for all three titles, with Martha Stewart Weddings leading with a 15 percent revenue gain in 2011 versus 2010 and an 11 percent increase in ad pages in that same period. Brides lagged furthest behind, with a 4 percent year-to-date increase in ad revenue and a 0.9 percent decline in ad pages. Bridal Guide saw a 5 percent bump in ad revenue and a 1.5 percent increase in ad pages.
In their 2011 Media Kit Get Married cited information that seems skewed and hard to swallow.
In their story Folio cites attributes its financial challenges to the economic downturn, the small-scale of its operations and capitalization compared to its competitors. The statement, based on a release sent out by Get Married management, is contrary to eWedNewz sources that continue to weigh in saying the company was not properly managed.
Get Married management says they will refund money for unused advertising to victims that prepaid in advance. Sources near the story say they’re skeptical and will believe it “when I see it”.
eWedNewz continues our investigation, following up on new information provided by ex-employees of the company claiming professional, ethical and personal improprieties. The investigation fans out to data sources and vendors of the company.
All Rights Reserved