Monday, October 24, 2005

Hello my little deadbeats

While others contemplate which of Dante's nine circles Phillip Bennett will one day call home, the NYTimes asks the important question: who'll pay for those Refco ads? I think we all know the answer. But did you know this: it's "been estimated in the magazine industry that 25 percent of all ads are 'dead debt,' meaning they are never paid for." Wow. That would affect like a whole pound of the September Vogue.

So can we assume that 25 percent of agency work is also never paid for? Would that be too low? And can we get names?


darkcoffee said...

Somehow I'm not surprised mag ads have wacky economics. So many practices in collusion-rich print publishing operate like finch bills on the the Galapagos rather than on straightforward competition. In book publishing, you go into a book store and can assume that a third to a half of the titles lose money. They're also all there on consignment, btw. Well, the paperbacks aren't going back to the publisher, just their stripped covers. The unsold books are thrown away. Sip your coffee at B&N and watch an insane industry operate!

Swedish Girl said...

And what about those loose ads that fall out of your mag when you open it?

Normally from a charity, depicting a dejected & famished puppy and asking for a contribution?

(As opposed to the dejected & famished models on the ads inside the magazine...)

PS. Blogging good, Irene.

Irene Done said...

Ha! Where to start?
1) I WILL sip my Barnes & Noble coffee since that seems to be the real money-maker for them. I read Monday that Rachel Ray -- the clumsy but winsome TV chef -- got a $6 million deal from her publisher. So maybe the secret to successful writing is not to have a plot. But maybe I'm drawing the wrong conclusion.
2) Those loose cards are absolutely the worst. Have you ever met anyone who DOESN'T throw them away?
3) I'm so glad you two have commented because I really have enjoyed discovering your blogs.