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Posted by Willy Franzen on March 23, 2011. Positions below updated every five minutes.
|Miller Buckfire Full-Time Restructuring Associate||New York, NY|
I must admit that I’ve never known anyone under the age of 60 to subscribe to Reader’s Digest, but I’m sure that there’s at least one college student out there with a subscription. I mean it was the top circulating consumer magazine for a long time up until 2009. They also can claim “more readers with household incomes of $100,000+ than Fortune, The Wall Street Journal, Business Week and Inc. combined. That means that they have some serious advertising power. Now Reader’s Digest is just one of the publications owned and operated by New York, NY based Reader’s Digest Association, which is “a global multi-brand media and marketing company that educates, entertains and connects audiences around the world.” They also have AllRecipes, Every Day with Rachel Ray, The Family Handyman, and quite a few other brands.
We typically like to look at growing companies because they tend to offer the most exciting job opportunities. But sometimes larger companies that are struggling with environmental changes that affect how they do business can offer similarly interesting opportunities. Reader’s Digest Association is in a tough spot. Their big brand, Reader’s Digest, has a dying (sorry to be morbid) subscriber base and increasing competition from web based publishers. That’s why it’s no big surprise that Reader’s Digest Association went through Chapter 11 bankruptcy in 2009 after five straight years of reporting losses. Still, Reader’s Digest Association has vast resources and significant brand equity. There are certainly some bright spots in Reader’s Digest Association’s numbers. They have 90 magazine titles, worldwide readership over 100 million, 83 branded websites, and annual book, music, and video sales of more than 30 million units. Another bright spot is Reader’s Digest Association’s Jobs page–they have a lot of opportunities posted including quite a few that seem suitable for new or recent grads:
It’s hard to say what the future holds for Reader’s Digest Association, but I think that there’s a big opportunity for entry level talent to help them ensure that their brands are just as popular (or even more popular) when we become grandparents.
Links to Help You Begin Your Research
Do you know anyone under the age of 60 who subscribes to Reader’s Digest.