A long-time subscriber to Fortune magazine is baffled on receiving a renewal form enclosed with the latest issue, offering one year (14 issues) for a steep $59.95 --- four times higher than the previous renewal rate paid, observes Grumpy Editor.
And that is offered on a “professional rate extension form.”
A few days later another “professional rate extension form” arrives, this time by mail, showing the same $59.95 “deal.”
Grumpy Editor finds Fortune’s rates and number of issues vary.
Its own site (subscription.fortune.com) lists the one-year (20 issues) cost at $19.99 for print and digital.
Page 6 of the July issue puts the one-year rate at $22.
Confusing?
Fortune, founded by Henry Luce in 1929, is a member of Time Inc. which was acquired by Meredith Corp. six months ago in a $2.8 billion deal that included Time magazine, Sports Illustrated, Money and Fortune. Four months ago Meredith indicated it planned to sell those Time Inc. titles, heavy in news, because they clashed with the company’s portfolio of lifestyle publications such as Better Homes and Gardens, Family Circle, Country Life, Food & Wine and Allrecipes.
From its launch in 1930 to 1978, Fortune was published monthly. In January 1978, it went biweekly. Then in October 2009, with declining advertising revenue and circulation, the magazine began publishing every three weeks.
Circulation, via latest tally in 2015: 837,981.
As a business magazine, Fortune is noted for issues focusing on the Fortune 500, Fortune Global 500, 100 Best Companies to Work For, 50 World's Greatest Leaders, Most Powerful Women in Business, 100 Fastest-Growing Companies and World’s Most Admired Companies.
Meanwhile, the long-time subscriber last week received by mail a “third renewal notice” still pitching the one-year $59.95 rate. Citing it is from Yvonne Gerald, vice president, Fortune, the notice reminds: “We have yet to hear from you.”
That triggered the long-time subscriber to renew immediately --- but via a discount magazine outfit --- for $14.99 a year.
What is interesting, though, is that Meredith, in a recent mailed pitch, is practically giving away two-for-one subscriptions to Better Homes & Gardens, coupled with Allrecipes, along with a free cookbook, a free gardening book and a free storage solutions book. Total one-year cost for all this reading: $8.
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