Fab Folds: Poor Ad Revenue, Restructuring Shutters Toronto Gay Mag
March 13, 2013 | Comments
Fab, the biweekly free magazine catering to Toronto’s gay community, announced its closure Tuesday after nearly 20 years in print.
“The realities of the print publication world have finally taken their toll on our free glossy,” said editor Phil Villeneuve in a statement on FabMagazine.com. ”Today, the press simply can’t afford to keep the magazine running. Despite the contributors, content and the amazing people that fill its pages, it’s time to say farewell.”
Ken Popert, director of advertising sales at Pink Triangle Press, which owns Fab along with gay and lesbian biweekly Xtra, told Marketing that Fab’s advertising dollars have been dropping about 7-10% annually since 2008, “especially from larger agencies that are finding other vehicles. Small retail markets are also looking in other places, like social networking sites for ad spots.”
He also said Fab’s page counts have been decreasing over the last decade.
Popert said that while the drop in ad revenue did play a role in the magazine’s demise, the closure was also a result of restructuring efforts at Pink Triangle Press. The company wants to put more of its attention into its core publication, Xtra.
“The decision to close was all about realizing where our resources need to be focused,” he said.
In the summer Pink Triangle Press plans to launch a new website, DailyXtra.com, which will replace the current Xtra.ca. According to Popert, DailyXtra.com will incorporate much of Fab‘s online content and feature some of its contributors.
Popert was unable to give a definitive number, but did say that some staffers had to be let go as a result of the restructuring.
Fab launched in 1994 and was purchased by Pink Triangle Press in 2008. The last issue will hit the streets April 24.