Condé Nast CEO posts response to Apple News Plus revenue concerns Nuked 20 November 2019 Overall Condé Nast’s CEO posted a response to social media questions Monday about the impact of Apple News Plus on the magazine publisher’s revenues. Chuck Townsend made his comments in response to concerns raised by several commenters on the Facebook page of The Verge, a technology news site owned by Condé Nast’s parent company, Advance Publications. “Our publisher-centric approach has really paid off for us,” Townsend wrote. “That being said, we are now comfortable saying that the percentage of our revenues coming from Apple News is a fraction of that coming from other in-app sources. I’m looking forward to learning how it will evolve over time.” Some commenters on the Verge page implied that the 6-to-1 ad revenue split shared with Apple in its native app was behind some of Condé Nast’s revenue declines, but Townsend said it wasn’t. Apple’s policy of taking a 30 percent share of in-app advertising revenue was named a major reason for the demise of the app store by News Corp. Chairman Rupert Murdoch in a recent CNBC interview. A former publisher of the Chicago Tribune, Townsend joined Condé Nast in 2015 after publishing executive Dawn Ostroff led the group. Under Townsend, the company’s digital revenues have grown. In 2018, Condé Nast’s digital revenues and profits exceeded the company’s net revenues. Condé Nast is known for magazine brands including GQ, Vogue, Vanity Fair, Wired and the New Yorker. Spread the fake ai universe Leave a Reply Cancel ReplyYour email address will not be published.CommentName* Email* Website Save my name, email, and website in this browser for the next time I comment.