SYDNEY: Australia’s longest-running magazine, The Bulletin has published its final issue, the latest magazine to fall victim to circulation drops and the increasing power of the internet as a source for news and current affairs.
Rumours had been circulating for years that the magazine was in danger of being closed down, however ACP had denied the rumours up until today’s (24 January) announcement.
ACP Magazines today issued a statement announcing the magazine’s closure and citing the above factors, along with financial pressures, as the reasons for the iconic magazine’s closure.
Despite a dramatic drop in circulation from over 100,000 in the mid-1990s to its current figure of 57,039 (ABC Sept 2007), The Bulletin still claimed higher paid sales than competitor BRW, which recorded circulation of 45,467 in the same audit.
And Nielsen Media Research ad revenue figures for 2007 reveal The Bulletin performing strongly enough to rank 32nd in ad revenue rankings for Australian magazines. Ad revenue for 2007 was up 3.4% from the previous year, to $9.35 million. Weekly competitors BRW and Time recorded ad revenue earnings of $13.36 million and $7.9 million respectively.
ACP Magazines CEO Scott Lorson said: “This is a sad day for all of us at ACP Magazines. The Bulletin has been an institution in Australian publishing and has provided its readers with the best quality, in-depth news and current affairs analysis in the country. The Bulletin has often set the political agenda, broken many important stories and won many awards for journalism over the years.
“We have invested heavily in the title with top editorial, photographic and design staff who have been devoted to making The Bulletin the best of its genre. However, despite our best efforts, the magazine has simply not been commercially viable for some time. With limited prospects for improvement, the time has come to make a very tough decision.”
It is thought between 15 and 20 Bulletin staff will be redeployed within ACP magazines where possible, or offered redundancy should suitable positions not be available. The magazine’s website will also be closed down.
Helen Kingsmill, executive director of the Magazine Publishers of Australia, said the news was “terribly sad, a brand as old as this”.
Martin Hadley, general manager at Total Advertising & Communications, said that he was "quite sad as a reader, but not overly sad as a media buyer".
"The chorus of opinion is that the market has moved on," he said.
"The internet allows readers to access the information they were after more quickly and in a more accessible format at a time when readers have little time or inclination for longer articles. If readers do want a longer read on topics like politics or the arts, they can get it from the weekend papers and their magazine supplements."
In 2006, The Bulletin underwent an editorial staff revamp and relaunched its website in a bid to arrest declining circulation. At the time it was praised by media buyers for initiating a dialogue with readers and becoming more accessible.
John Lehmann was appointed editor-in-chief in June 2006 in some controversy amidst claims there were internal doubts as to his ability to effectively edit the magazine. Formerly a mid-ranking journalist at The Australian, Lehmann replaced Garry Linnell, who departed for a job at Channel Nine.
In his statement today however, ACP group publisher men’s & specialist titles Phil Scott said Lehmann had done an outstanding job since joining the magazine. “John and his staff have maintained The Bulletin’s commitment to quality journalism and tackling the tough issues. Under his guidance it has won a Walkley award and three Magazine Publishers Australia awards,” Scott said.
The Bulletin was also a finalist at the MediaWorks awards in November 2007.
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