Reader's Digest has been known for can-do tales, grandmother-approved jokes and stories aimed at Middle America. Now it will aim for articles about traditional values and spiritual stories.
History of the Reader's Digest
The Reader's Digest was first published by William Roy DeWitt and his wife, Lila, in 1922. At that time it was sold by subscription only and did not appear on newsstands until 1929. The first issue consisted of 5,000 copies and sold for 25 cents each. By March of 2009, it had published 50 editions of the magazine in 21 languages. It is the mostly widely circulated in the world. It reached its height of popularity in the 1970's with a domestic circulation of 17 million subscribers.
It was acquired by a consortium of investors in 2007 by a group led by Ripplewood Holdings, a private equity firm in New York. However, it has been losing money since 2005 and is now $2.1 billion in debt and its credit rating was lowered to CCC. After hiring a new chief financial officer, its costs have been cut by $25 million in the last quarter.
Reduction of Circulation
Starting in 2010, the management of Reader's Digest Association announced on June 19, 2009 that it will now publish the U.S. magazine 10 times a year starting with the February 2010 issue. Its rate base, the circulation the company guarantees to advertisers, will be adjusted from 8 millions to 5.5 million over an 18-month period. Its global circulation will remain at 14.5 million.
Changed Focus of Reader's Digest
In speaking to employees of the Reader's Digest Association on June 17, 2009, Mary Berner, the president and chief executive of RDA, talked about the magazines focus: "Its traditional, conservative values: I love my family, I love my community, I love my church." She announced that the change would be a multifaceted effort produced with Rick Warren, the evangelical pastor. Ms.Berner said that "It's an unabashed commitment to and focus on a market that's ignored but is incredibly powerful", speaking about politically conservative readers. Now in the reorganization, the company's brands are going to focus more around subjects like food and home.
Like other magazines, like Time and Newsweek, the Reader's Digest is going to focus on a more niche audience and looking for readers that "really appreciate the wholesome nature of the magazine." If the new directions works, the Digest may increase the spiritual content" focusing on what she describes as spirituality, as long as it's legitimate which she considers a built-in community.
Writers Guidelines
It is expected that past writers guidelines will be changed to fit in with the new, more conservative writers direction of the Readers Digest. Watch for guidelines that were issued after June 2009.
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