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Decoder Ring: Can the “Bookazine” Save Magazines?
00:33:05
Why is there a magazine all about Robert Redford in the CVS checkout lane?
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- [00:01]
A
Hey, I'm Elise Hu, host of the podcast TED Talks Daily. Did you know Paylocity offers one platform for HR finance and it that means innovative solutions like on demand payment which offers employees access to wages prior to payday, flexible time tracking features which enables staff to clock in through their mobile device and numerous other cutting edge integrations are available to all your teams in one single place. Learn more about how Paylocity can help streamline work and bring teams together@paylocity.com webinar1.
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B
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- [01:12]
C
Wow, it's busy in here. I find myself at CVS all the time looking for toothpaste, aspirin, scotch tape. Who knows? I wander back and forth in the aisles trying to find what I'm looking for or someone who can point me in the right direction. Excuse me, do you know where the magazines are?
- [01:30]
B
Right in this corner.
- [01:31]
C
Okay, well, thank you very much. I don't know if you've looked at the magazines available in a CVS or a Walgreens or a Rite Aid or a supermarket lately. Years ago, they were full of monthly and weekly news, fashion, food and celebrity magazines, and of course, tabloids. As a little kid, I loved reading headlines about aliens and ghosts and tawdry celebrity scandals while I was helping my parents at the checkout line. But the magazines available at CVS don't look anywhere anything like this anymore. So I'm looking at a the Story of Jesus the Essential Tax Guide Lucille Ball Her Life, Love and Legacy the History of the Occult. Sure, there's a handful of familiar titles Vogue, Vanity Fair. But mostly there are dozens and dozens of one off publications, each devoted to a single topic. Taylor the Music and the Magic A Walter Payton Memorial the Kennedy assassination 60 years later the Story of Ellis Island ultimate guide to Pokemon 100% unofficial. I first noticed this phenomenon a few months ago. I was wandering the aisles when my eye caught on what I thought was the monthly women's magazine Redbook. But when I looked more closely I realized it was actually Redford. As in Robert Redford, the now retired 87 year old movie star of such films as the Sting, all the President's Men and Butch Cassidy and the Sundance Kid.
- [03:01]
D
Don't tell me how to rob a bank. I know how to rob a bank.
- [03:04]
C
I'm a journalist. I've worked at print magazines. I thought I knew the gist of how they worked. But staring at Robert Redford's floppy blonde hair on this cover was like looking at a picture you've walked by a million times after it's been moved, suddenly you really notice it. And I had questions like who's making a publication devoted solely to Robert Redford in 2024? Who's making all these other one offs too? Who's writing, publishing and reading them?
- [03:38]
E
Need a break?
- [03:38]
C
No, I'm good. And most of all, why are there so many of them? I mean, aren't magazines dying? How often do people buy magazines anymore?
- [03:50]
E
Not much.
- [03:52]
C
Not a lot. This is Decoder Ring. I'm Willa Paskin. Magazines have fallen on hard times and nowhere is that more true than at the checkout line and on newsstands where revenue has plummeted by billions of dollars. And yet there is something growing there. They're called single issue publications, or bookazines. And last year over 1200 different bookazines went on sale across the country. Maybe you've bought one of them, maybe you would never buy one of them, maybe you've never even noticed them. But the innocuous looking bookazine is either a way forward for the magazine or a last gasp for a format trying to survive on the very racks that used to be its natural habitat and might not be for much longer. So today on Decoder Ring, with some help from Robert Redford, love to can the bookazine save magazines? In the 1970s thriller Three Days of the Condor, Robert Redford plays a CIA employee whose job is to comb through magazines every day looking for clues.
- [05:29]
D
I look for leaks. I look for new ideas. We read everything that's published in the world.
- [05:34]
C
Now, I don't have a CIA operative who looks like Robert Redford to help me with this particular mystery. But I did have Redford, the magazine with his name in big white font on the COVID and him staring right out at me, his gaze intense. And so I started trying to piece together what's going on with bookazines by combing through it. There's actually no advertisements, just not interrupted at all. It's just like endless articles and pictures about him. A lot A lot of pictures. There's full pages of Redford in a bathrobe, his blonde chest hair exposed. Redford as a child, Redford on a horse. Redford giving his co star Meryl Streep a piggyback ride. Redford shirtless and his jeans slung low like Rillo. Every single picture comes with a caption that contains a quote or concrete detail. Although 1972 comedy the Hot Rock was a box office bust, it did inspire indie rock band Slater Kinney to name their 1998 album In Honor of it. The care put into these captions tips you off that Redford magazine is not just a copy and paste job or created by Chat GPT. In fact, the whole thing was written by a very real person who's listed on the last page three times as the managing editor, research editor and writer. Her name is Kara Donnelly.
- [07:02]
E
My professional resume is, I think, a textbook example of what's happened to journalism and my bank account as well.
- [07:10]
C
Kara has been, among other things, a movie critic, a city hall reporter, and an executive editor at TV Guide. But she spent the biggest chunk of her career in the 1990s at the weekly magazine People. Interesting, entertaining conversation, stimulating, never less fascinating.
- [07:26]
F
People in this week's People.
- [07:28]
E
In those days, People was kind of like the magazine of record for culture. And you would know from one day to the next, maybe today I'm going to watch Jackie Collins make meatloaf, which is a thing I actually did. Or there's an earthquake somewhere, you gotta get to Haiti or spend a night on a mountaintop with Jon Bon Jovi.
- [07:53]
C
When Cara was there, People's readership was close to 40 million, and some of its bestselling issues could move nearly 3 million copies. And it wasn't just people. Time, Newsweek, TV Guide were all riding high. Seven thousand magazines were available on newsstands, breaking news and brimming with commentary, flush with advertising dollars and readers and full of authority.
- [08:19]
E
It was a great time to be in that business, and I did not regret all the money I spent getting a master's degree in magazine journalism.
- [08:26]
C
But then the magazine industry started changing fast. Weeklies that had thrived for decades by bringing people the news first couldn't compete with the immediacy of the Internet. And then smartphones. Advertising dollars disappeared and revenue tumbled, leading to mass layoffs and consolidation. By the 2010s, Cara found herself freelancing. She took writing assignments and worked on Queen Latifah's talk show. But as the decade passed, money started getting tight. One day working on a freelance article she found herself in Dwayne the Rock Johnson's trailer looking at a very fancy bottle of booze.
- [09:06]
E
He said it was like a $6,000 bottle of tequila. I went, okay, when I paid this last bill Today, I had $80 in my account. And now I'm sitting here with a guy who thinks nothing of a $6,000 bottle of tequila. And that's what it actually hit me. I gotta do something to get some money.
- [09:30]
C
The thing Kara was by far the most qualified to do was make magazines, which was also what she liked doing. But traditional magazine jobs had dried up. Even so, she emailed everyone she could looking for any kind of editorial work at all.
- [09:47]
E
And I think it was within about two weeks after that when I got the call from a friend of a friend about, hey, do you want to do this weed magazine?
- [09:57]
C
This weed magazine wasn't High Times or any other regularly published magazine. It was a standalone single issue devoted entirely to marijuana, which was being legalized in a number of states. It was exactly the type of bookazine I saw on the racks in cvs. And Cara and her bank account jumped at the chance to work on it.
- [10:17]
E
I did one and that sold apparently pretty well. I did another one that sold. I did. I feel like it was about eight separate magazines on weed and cbd, which was great because I have never used drugs in my life.
- [10:33]
C
But what Kara did have experience with were these one off publications. They've actually been around in some form for decades. She used to help make some back when she worked at People.
- [10:43]
E
We started doing what we called SIPs, special interest publications, which were like single issues that were devoted to a topic. If a celebrity passed away, you would do a whole issue about, you know, their life and career.
- [10:59]
C
But back at people in the 1990s, SIPs were an add on a sideshow to the weekly magazine, which was selling millions of copies. Now, many of these bookazines are not affiliated with any regular weekly at all. They're either completely standalone publications or they use the branding of a magazine like Entertainment Weekly that's no longer public. In any event, Kara had a new source of income, and she didn't stop with the weed bookazines. She did ones about Star Wars, Star Trek, financial planning, you name it.
- [11:32]
E
It's me having decades of training to just try to find a balance between what people need to know on the topic, what they should know on the topic, and just what will be fun. I have bosses who will weigh in, but it's kind of fun for somebody to say, here we're doing 100 pages on Robert Redford. Go find however you want to tell that story.
- [11:56]
C
Like a lot of these projects, Redford started with a call from an old colleague.
- [12:00]
E
Someone else I knew from previous jobs who knew I had done a bunch of these because that's kind of what we all do now that we can't get real jobs.
- [12:10]
C
The colleague was working for one of the smaller editorial content companies that oversee the creation of each bookazine before turning them over to a publisher. These companies are themselves founded and run by former high level magazine editors and designers who have changed jobs as the industry has disintegrated. They have a core of full time employees, but they hire a freelance team to actually execute these publications. That team typically includes a freelance art director, a freelance copy editor, as well as someone like Kara, who wrote the entire Redford bookazine with just the help of her son. They're all paid out of a lump sum that doesn't get bigger. If there are more people working on the bookazine, that lump is typically between 17 and $30,000. That's how much this group of freelancers makes all together, which doesn't come out to that much money for any one of them.
- [13:05]
E
The new world is you don't get paid nearly as much and your deadlines are much faster.
- [13:11]
C
It typically takes about six weeks for a bookazine to come together, though in the case of a celebrity death they can pump one out in just a few days.
- [13:19]
E
But when you don't have to wait for interviews like it's, it's totally doable, it's just doing research and attributing everything that you find. But there's no like interviews like a traditional magazine.
- [13:32]
C
So it's not the same as her old jet setting job at People. But Cara likes the work. She also considers herself fortunate. She now works in TV as a senior producer on the Kelly Clarkson show, so she can take a bookazine gig whenever she needs some extra money or just because she wants to.
- [13:50]
E
Because I feel like the hours between midnight and six are just wasted on sleep, then I'll come home and work on one of these magazines.
- [13:57]
C
But bookazines remain a lifeline for many middle aged magazine professionals who know what they're doing and want to keep doing it, even if they're now doing it on tighter deadlines, with less resources and without health insurance. At least they're a relatively reliable source of work and income because someone is commissioning lots and lots of them. And that's who I wanted to talk to next. Someone who could tell me why there are so many bookazines? If you can quote any line from all the President's Men, the movie about the journalists who broke the Watergate scandal, I bet it's this one, Follow the Money.
- [14:59]
D
What do you mean? Where? I can't tell you that. Just Follow the Money.
- [15:07]
C
That's the mysterious informant known as Deep Throat telling the journalist Bob Woodward, played by Robert Redford, how to proceed with his investigation. And in much lower stakes circumstances, I decided to heed this advice and follow the money too, because the money is the most confounding thing about bookazines. Specifically, what's confounding is how they're making any as you've probably heard, things are not going well for print magazines. Newsweek has announced it's scrapping its print publication. After 80 years, National Geographic will stop selling its regular printed issues on newsstands in the US and the owners of Entertainment Weekly, InStyle, eating well, health, Parents and People and Espanol announced they're ending the print versions of of the magazines. Redbook, the magazine I'd confused Redford with, also stopped printing in 2019, and there are many other examples besides. Basically, newsstands are a disaster, except somehow for bookazines. So, like Robert Redford and All the President's Men, I decided to chase the cash. And to do it, I went back to what I had Redford the magazine on the last page is the name of its publisher, A360 Media. A360 is owned by a hedge fund, and it turns out it's one of only a handful of companies driving the entire bookazine industry. You may have heard of it by its old name. A360 used to be called Ami when it was the publisher of the National Enquirer and other supermarket tabloids.
- [16:49]
D
What intimate Dolly Parton secrets are revealed.
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C
In this extra exclusive inside story?
- [16:53]
D
Inquiring minds want to know.
- [16:55]
C
I want to know. But the National Enquirer notoriously went from breaking stories to being the story. In 2018, the Associated Press reporting the National Enquirer kept damaging stories about President Trump, along with details about hush money payments locked away in a safe. This is the as the dust settled from the series of catch and kill scandals, AMI changed its name to A360 and eventually sold off the Inquirer. A360 still publishes some weekly titles like Us Weekly and Women's World, but in recent years it has stormed into bookazines, or SIPs.
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G
When I first came to A360, we were publishing about 200 SIPs a year. Last year we topped out at a little over 500.
- [17:41]
C
Eric Zegda is executive vice president of consumer revenue and marketing at a360. His name is right there on the last page of Redford. And I wanted him to help me understand how sips can work financially when traditional magazines can't. And he told me they're apples and oranges.
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G
Sips is a completely different ballgame. What's very unique and different about bookazines is they are basically a single revenue stream.
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C
Eric explained that traditionally magazines have had three revenue streams. And advertising, subscribers and retail sales. But bookazines make all of their money from that last stream. They make all their money in stores by appealing directly to consumers. So they're less like GQ and more like gum or chocolate bars or soda or whatever else you see for sale on the checkout line. But even there, right in potential consumers eyeliner, they don't sell that many copies.
- [18:49]
G
They are lower Cirque, meaning the magazines with subscriptions are in the 1 million plus circulation range. Special interest publications are selling more like anywhere from 25 to 100,000 copies an issue.
- [19:04]
C
So bookazines have one revenue stream and they don't sell that much, which does not sound that promising. Certainly it would be disastrous for a traditional magazine. But remember, that's not what bookazines are. They are a different kind of product with a different business strategy. And they are made to extract value from troubled newsstands in a number of ways. First off, bookazines are cheap to make. As you heard earlier, their content is outsourced to smaller editorial companies who turn them around for fast. That content is also reusable. A celebration of Robert Redford can be reprinted to, say, a commemorative issue when he dies. Secondly, bookazines stay on newsstands for a long time. 90 days longer than a monthly or a weekly gives them a bigger window in which to find a prospective buyer. Third, they're pricey. They can run from $12.99 up to 1899. That's pretty much the price of a book. So how does a publisher like A360 get people to pay that much?
- [20:13]
G
It's because this is 100% focused on a topic that they are extremely passionate about.
- [20:21]
C
Bookazines look old fashioned, but they are animated by the same impulse that drives so much contemporary pop culture. Intense niche.
- [20:32]
G
Interesting consumers are now saying, well, if I'm interested in the royals, I want a book that's 100% about the royals.
- [20:39]
C
So Eric Zegda's company, A360 churns out deep dives into specific topics that have the feel of a magazine, but the narrow focus of a subreddit.
- [20:50]
G
You know, there are niche fans, whether they're into manga or anime and they found a community in chat rooms or whatnot. And that's what a bookazine tries to do, is tap into that fandom and create a product for these consumers.
- [21:08]
C
Fans come in all ages, and that's the insight here. For older, less online readers, bookazines can function like an Internet deep dive without the Internet. They're for people who don't want to go into a Reddit thread to learn about CBD or want to ogle octogenarian movie stars who don't have robust fan sites.
- [21:28]
G
We do and have a lot of success with our bookazines that tap into that. You know, whether it's like the Robert Redford or the Harrison Ford. But then there is tapping into pop culture and what's hot right now. So like last year, our year was made because of the Taylor Swift phenomenon.
- [21:48]
C
A360 sold $12 million worth of Taylor titles last year, including a crafting guide trying to reach young people who want a keepsake, a status object, a magazine about their idol.
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H
Oh my God, no. When I tell you I'm so excited, I feel like, I feel like I'm a teenager again.
- [22:10]
C
This strategy doesn't just work with Swifties. This is a TikTok from a fan going through a bookazine about the K pop band Stray Kids.
- [22:17]
H
Oh my gosh. Here's like the contents and it's like you can go there. I'm so excited.
- [22:25]
F
I'm so excited.
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H
Sorry.
- [22:30]
C
So to recap, bookazines are cheap to produce, expensive to buy. They target a passionate audience and stay on high visibility racks for a long time. But there's one more thing. Remember, magazine sales overall are still falling, so newsstand sales overall are still contracting. And so bookazine publishers need other advantages to make everything work.
- [22:58]
D
Follow the money. Just follow the money.
- [23:02]
C
A360 has one particular advantage, and it has to do with the magazine supply chain. Thirty years ago, there were scores of thriving magazine publishers, four national distributors, and over 350 wholesalers getting magazines to tens of thousands of stores. Today, there is only one national magazine distributor in the country, and that's for all nationally distributed magazines, not just bookazines. There's also one national magazine wholesaler that controls about 90% of the market. And both of these are owned by the same hedge fund that owns a360 that fund also owns one of the largest magazine printers in the country, and the company that places magazines into checkout racks. So for every bookazine published, that's a lot of different pieces of the revenue going back to a single entity. A 360's group, it turns out, is just about a vertically integrated monopoly. The 800 pound gorilla of the magazine retail space, which is one way to help make the the math work.
- [24:19]
D
The money's the key to whatever this is.
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C
A360 is only one publisher, though, and other bookazine publishers are making it work too. They use many of the same strategies and some different ones as well, like leveraging famous legacy magazine brand names and repurposing their old content. Whatever the strategy, altogether, they've been enough for bookazines to come to dominate the CVS checkout line.
- [24:45]
G
There is a seminal point in 2019 where the SIP segment surpassed weeklies and they have not looked back since. And so the SIPs now represent over 50% of magazine sales and are by far the largest category now.
- [25:05]
C
So I'd followed the money far enough to understand how this worked for the publisher. But I had a question left. As weekly magazines are replaced by bookazines on the checkout racks, what does it mean for readers? So I want to cop to the fact that from the moment I first laid eyes on Redford, the magazine, I've been a little skeptical of bookazines as a reader, but yes, also as a journalist. As bookazines announce right there in their goofy name, they are not quite magazines. They're the size of magazines, they fit in the same racks as magazines. They employ some people who used to work at magazines, and they do some of the fun stuff magazines do. But they do none of the more imperative, original, challenging culture setting, far reaching, expensive things magazines do either. And I wasn't the only person to be suspicious of them.
- [26:25]
I
I was a little skeptical. I didn't expect much.
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C
Eric Radvon is a writer and comic book creator who knows the value of a traditional magazine.
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I
I grew up in like a magazine heavy household. So we got like Time and Newsweek and TV Guide and it was just like part of the fabric of life, right? Was just like these piles of magazines all over the place. And that went away when like, like kind of like the newsstand started to shrink. And what was left wasn't like super appealing, you know, it was like celebrity magazines and, you know, crossword puzzles.
- [26:57]
C
But during the pandemic, when he was at Walmart buying supplies for his new baby, something at the checkout line caught his eye. A Star wars book.
- [27:07]
I
It was sort of like, you know, impulse buy. Like, hey, why not? I kind of got, like, some sticker shock. I was like, oh, wow, this is $13.
- [27:15]
C
But he bought it anyway, and many more soon followed.
- [27:18]
I
And then as I started to grab them, I was like, oh, wow, these are actually pretty great. I was just really impressed, like, how much research and thought and care there was put into this thing that, like, was on the shelf at cvs.
- [27:30]
C
He loves them, loves how it feels to smell, slow down, shut out the noise, and dive into a subject.
- [27:37]
I
It's also a very human experience or a much more healthy human experience to just kind of, like, allow yourself the time and space to explore a topic in more than, like, 5Ns.
- [27:50]
C
He's got ones about Indiana Jones, David Bowie, the Legend of Zelda, the Beatles, and Superman.
- [27:56]
I
I have an extra bounce in my step when I'm in the Super Walmart and I need to get diapers and wipes, and then I see that checkout lane, and my eyes are, like, scanning a mile a minute looking for, like, what's new. My son, who's 4, really enjoys, like, scanning the items. And, like, I get this cool commentary of, like, here's another one of Papa's magazines that he needs to get.
- [28:18]
C
He keeps them all in an IKEA cube in his office. Even the ones he thinks are mediocre.
- [28:23]
I
They'Re not all created equal. So some of them are, like, these, like, you can tell just, like, a pretty obvious, like, copy and paste job of, like, old material from, like, Entertainment Weekly in 1993 or something. Right? But then some of them are actually, like, really, really good. I think what jumped out to me was, like, this thing that we don't really get so much of in the Internet age. The real feeling of, like, an editorial, I don't know, filament going on there where there was like, yeah, somebody actually, like, thought about this and put this together.
- [28:51]
C
And he's right. There are real people throwing themselves creatively into some bookazines. People like Cara Donnelly.
- [28:59]
E
Well, that's the joy of doing these. I mean, these magazines, at least everyone I've been a part of, are actually fun.
- [29:08]
C
They're good reads, and she has fun making them. Probably the biggest testament to her enjoyment is that she keeps doing them, even though she has a lot going on.
- [29:19]
H
We share a lot of stories on this show, some more personal than others. Today's episode was made possible because of my next guest. She is one of our producers and has been since season one. Please welcome Kara Donnelly, everybody.
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C
This is from the Kelly Clarkson show, where Kara works. On this episode, Kara stepped in front of the cameras for once because she had her own story to tell. So you.
- [29:43]
H
You always knew, right?
- [29:45]
C
Yeah.
- [29:45]
E
I mean, from the time you're conscious. When I was seven, I had this dream, recurring dream that Tabitha from Bewitched would come over to our house and she would ask me if I wanted to play. I would say, sure. She would say, drink this first. I would drink it. Then I was a girl and we'd go Play.
- [30:01]
C
At age 63, Cara came out as transgender.
- [30:06]
E
After that episode, there were probably half a dozen, you know, burly teamster dudes who didn't want to do it in public, but, like, they would catch me, you know, wherever, going, hey, I'm sorry to bother you. I just, I. When you did that episode, it just. It changed my mind about a lot of things and it made me cry. And so I am on this sort of mission now to be America's friendly neighborhood trans person.
- [30:32]
C
And yet Kara still finds time to make bookazines because she loves the work and she loves it, even though it doesn't involve in depth reporting and it doesn't pay nearly as much. And it's not unearthing new information like at our old job.
- [30:48]
E
Would I like those days back? Yeah. Is there anything I can do? Will they ever come back? Nah. The plus with everything now is at least it's a facsimile of what I used to do, what a lot of us used to do, and it's still a chance to have fun.
- [31:05]
C
Working on this piece, I started imagining designing a CVS from scratch. There are a lot of things one might change, but I was thinking about magazines. If you were starting over completely right now, would you set aside a space for them or would you put something else up at the front? More chocolate, more soda, More chapstick? I know the absence of magazines would bum me out. I love magazines. Way before I worked at one, I read them, I pored over the articles and the pictures. I thrilled to pick one out before getting on an airplane. I was delighted by them. I learned stuff from them I never would have found out about all by myself. As you can tell, I feel nostalgic about magazines. You could even say, I miss the Way They Were, which happens to be the name of a nostalgic romance co starring Barbra Streisand and you guessed it, Robert Redford.
- [32:01]
D
Katie. It was never uncomplicated, but it was lovely, wasn't it?
- [32:08]
C
Yes.
- [32:09]
H
It was lovely memories.
- [32:17]
C
But nostalgia can't bring magazines back. Bookazines are imperfect and compromised. Who knows how long they'll be successful or how long they'll be written by human beings. But for now, they have something that a lot of magazines don't the undeniable virtue of still being here.
- [32:39]
H
Can it be that it was all so simple?
- [32:44]
C
Then.
- [32:46]
H
All has time rewritten every line?
- [32:56]
C
This is this is Decoder Ring. I'm Willa Paskin. If you have any cultural mysteries you want us to decode, please email us@decodaringlate.com this episode was written by me. It was edited by Evan Chung and produced by Max Friedman. We produced Decoder Ring with Katie Shepherd. Derek John is executive producer, Merrick Jacob is senior technical director. I'd like to thank Bob Dare, Cynthia Wang, Todd Lundgren, Lisa Chambers, Lisa Griffith Goren, Kit Taylor, Joe Berger, Samir Husni, Michael Rothfeld, Margot Suska, and Diego Romero. If you haven't yet, please subscribe and rate our feed in Apple Podcasts or wherever you get your podcasts. And even better, tell your friends. If you're a fan of the show, I'd love for you to sign up for Slate Plus. Slate plus members get to listen to Decoder Ring and every other Slate podcast without any ads. You can also get unlimited access to Slate's website. Member support is crucial to our work, so please go to slate.com decoder plus to join Slate plus today. We'll see you in two weeks.
- [34:12]
F
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