The magazine industry has taken a big hit in the current recession. Conde Nast, publisher of Vogue, Vanity Fair, The New Yorker and many more, has been hit the hardest due to its inflexibility on ad rates and dependence on luxury advertisers. But a new deal with Proctor & Gamble will mean big changes.
According to BrandWeek, the deal will involve multiple titles and related websites in September (the most important month for the fashion industry). The campaign will involve brands such as CoverGirl, Olay, Pantene, Secret and Gilette, all of which are mass-marketed products rarely found in Conde Nast publications. P&G has also decreased its spending budgets in other areas to increase its budget in national magazines.