After 25 years, Gillian de Bono has bid farewell to How to Spend It, the Financial Times’ luxury supplement, and unlike many longstanding magazine editors, she’s left of her own accord, with profit on the balance sheet and revenue on the upswing.
LONDON — After 25 years, Gillian de Bono has bid farewell to How to Spend It, the Financial Times’ luxury supplement, and unlike many longstanding magazine editors here, she’s left of her own accord, with profit on the balance sheet and revenue on the upswing.
“Howtospendit.com is nicely profitable, but its revenue is dwarfed by our print revenue. The biggest challenge will be to redress that balance — and that will not be easy.”There was a time, de Bono said, when incremental improvements could be made to a website with the prospect of small incremental gains. “But this is no longer an acceptable business model. We are now in an era when investment is dependent on significant, guaranteed and immediate returns.
Unlike other glossies with munificent parent companies or indulgent owners , How to Spend It was forced to be scrappy from the get-go. Since its launch, myriad British newspapers including The Times, The Telegraph and The Economist have endeavored to imitate it, with varying degrees of success, as few subscriber bases can match the acquisitive crowd at the FT.
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