Time Inc. on Monday followed the announcement that it is buying HelloGiggles, a lifestyle site cofounded by Zooey Deschanel and aimed at millennial women, with word that it will close All You, the once high-flying magazine for budget-conscious shoppers.
The December issue of All You will be its last. Its website will go dark at the end of the year.
"As part of our ongoing transformation of Time Inc., we are constantly evaluating our portfolio of brands and products, examining existing assets and assessing their ability to deliver meaningful growth into the future," Evelyn Webster, exec VP at Time Inc., said in a memo to staff. "Simultaneously, we're introducing new launches and acquisitions to accelerate that growth, such as our recent announcements of HelloGiggles, Wallpaper U.S., Sports Illustrated Play and InVnt. To that end, we have made the decision to cease publication of All You, effective with the December 2015 issue. AllYou.com will continue operating through the end of the year."
All You was introduced in 2004 with a unique circulation model, selling its newsstand copies only at Walmart, although it expanded last year. As recently as 2011, it was the 9th highest-selling magazine on newsstands, Ms. Webster said Monday in her memo. "More recently, All You has faced a particularly difficult landscape in the shopper marketing space as well as endemic newsstand challenges," she said.
Magazines as a whole have suffered repeated double-digit percentage drops in newsstand sales. Selling ad pages, the source of the majority of revenue for most magazines, has also become increasingly challenging.
News of All You's closure came two hours after Time Inc. said it had bought HelloGiggles for an undisclosed price. "With its passionate, highly-engaged audience and quality editorial voice, HelloGiggles is a great fit for our entertainment portfolio, which includes People and Entertainment Weekly," Time Inc. Chairman-CEO Joe Ripp said in a statement. "We see the opportunity for HelloGiggles to continue to evolve and grow as a multimedia content business. The site provides strategic benefits including a contributor network that unlocks access to a new pool of editorial and creative talent, an expansive audience of highly-engaged consumers and experience in branded and native content solutions."
Ms. Webster said Time Inc. is trying to find new jobs at the company for as many All You staffers as possible. Group Editor Clare McHugh will remain at Time Inc., continuing her oversight of Essence, Health, Sunset and Coastal Living. Group Publisher Greg Schumann will continue to run Southern Living, Sunset and Coastal Living.