With the financial state of newspapers and magazines becoming more precarious by the day, it's inevitable that prices of such publications are rising, and New York Magazine is the latest to make this price increase. As explained by Lucia Moses in an article on adweek.com, the new $5.99 price tag that will take effect with the December 26 issue is 20 percent higher than the current price, and double the 2007 price of $2.99. The magazine apparently decided to make this decision after testing higher prices on certain issues and observing that "sales remained steady."
Many see this move as just another sign of the times. The article explains that according to the Audit Bureau of Circulations, New York Magazine sales have experienced an exceptional drop in sales, down 21 percent in the first half of 2011. Experts blame this on the problem that has been plaguing basically all other publications - readers substituting a physical copy with the free content available on the website. New York Magazine hopes its price increase will help make up for some of these losses.
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