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.
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