New Mexico Magazine back in the black
Posted at: 09/14/2012 7:40 AM
By: The Associated Press
SANTA FE, N.M. (AP) - New Mexico Magazine is back in the black. The tourism department says the publication exceeded operating expenses by $300,000 for fiscal 2012.
That's a swing of more than $1 million from 2011, when the magazine was almost $800,000 in the red.
The state magazine operates as an enterprise fund that is responsible for sustaining itself. So the turnaround was essential to the nearly 90-year-old publication's survival.
Tourism officials credit strict financial discipline, a nearly $250,000 increase in revenues and a 34 percent increase in advertising page sales.
Tourism Secretary Monique Jacobson says the editorial quality of the magazine has also improved under new leadership. While magazine sales are declining nationally, single-copy newsstand sales were up 36 percent, and overall circulation was up 6.4 percent to 93,408.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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