Reader’s Digest closure a reminder that even giants can fall in media [Video]

The Drum’s Gordon Young, a magazine man himself, reflects on the closure of Reader’s Digest in the UK.

The recent announcement that Reader’s Digest UK will cease its print operations after 86 years is more than just the end of a magazine; it’s a dramatic example of what happens when companies fail to adapt quickly in a world of relentless change. The closure of this once trailblazing publication underscores a crucial lesson for all businesses: adapt swiftly or risk obsolescence.

Reader’s Digest was once at the forefront of the publishing industry, pioneering direct marketing strategies that became the gold standard. With targeted mail campaigns and enticing sweepstakes, it carved a niche that drew millions of readers. At its peak, the magazine’s circulation soared above two million in the UK alone. But those glory days are long gone. The publication’s circulation had plummeted to about under 200,000 copies recently, reflecting a stark decline in reader engagement and …

Tags Best Seller, Best Selling, Publishing, Publishing Houses, Self Publishing