It’s really sad to see that Têtu has been declared bankrupt by the commercial court of Paris. Ouch! As we say in French “ils se sont bien ramasser la gueule”.
Têtu was founded in 1995. 20 years is a pretty good run for a magazine but it could and should have lasted many, many more years. Unfortunately they pretty much made all the wrong decisions through the years a magazine can make and the price to pay has now been served.
I remember that when I moved to Paris Têtu was just 2 years old and it was all the rage (good and bad) in France. It was important for the LGTB community to have a voice and for people all over France to be able to go and buy a magazine that speaks to them.
But success is not for everyone, a magazine can survive no matter what, but the people who run it and make poor decisions are the one running the adventure.
What seems crazy to me in a digital era is that if you can’t survive in print (you can always survive in a digital format) can you believe that the magazine annual loss was around $1.5 million !!!!! It’s ridiculous. Were people writing articles on gold macs in that company? Was the magazine printed on rare rose wood paper scented with Tom Ford’s fragrances?
I mean with BELLO we have been living and working digital publications for the past 8 years, we have a lot of readers and are selling the magazine on iTunes and Google Play. it takes time it takes work (it does not take $1.5 million per year) and it works! But it’s not the glamour of killing trees … true.
You should know that the magazine was previously owned by Saint Laurent’s former partner Pierre Bergé and bought in 2013 by Jean-Jacques Augier for 1 euro.
At that time the magazine still had in bank enough money to last 2 years! Easy math, the magazine was loosing around $1.5 million a year which makes the total amount of money left close to $3 million, right? … so that guy bought $3 million for 1 euro !!!!!! like for real.
And before that, are you sitting? Pierre Bergé himself was putting out of his own pocket between 2 and 3 million euros each year to keep the magazine alive.
Yes, of course there was the responsibility of keeping an ‘institution’ alive … which he miserably failed to do by not lasting a day over the financial predictions. Which means not even thinking of making the magazine profitable for its … 28,275 readers per month. They were some spoiled readers spending 5euros in a magazine that was putting millions into it for content and production. Like what makes sense at that point? Can anyone tell me?
And to last ‘that long’, they went from 27 employees to 9. $3 million to make a 9 persons company last 2 years … good job guys. Not a single fuck was given in going all digital. Why? Because advertisers still wants to have their ego printed on dead trees? I just don’t get it.
Jean-Jacques Augier also politely ‘blamed’ the gay community for not standing behind the magazine. Yes he wrote it in a press release:
“à l’erreur d’un lectorat gay largement démobilisé”.
Yes gay people of France it is your fault for being demobilized! LOL
And in his last press release on the site, he casually mentioned …
“Peut-être un repreneur de la marque TÊTU, axant plus résolument son exploitation sur les supports numériques, se manifestera-t-il à la rentrée et réussira-t-il à trouver un chemin vers la rentabilité…”
“Maybe someone will take over the TÊTU brand, focusing its exploitation on digital medias … “
Oh yeah and you just thought about that this morning or you had 2 years to put that ‘digital startegy’ in motion. I think this guy is ridiculous.
But the content of the magazine was also a problem. Being activist? or just talk about the best sunscreen for your trip to Mykonos?
You know what Têtu has been great, kinda like a rich kid who was living on his parents money, being super popular, everybody LOVED him until things got real and he actually had to make his own money when he was not that young and that popular anymore.
This hopefully will open a window for creative and smart people who have been in the ‘shade’ of Têtu for decades. Adieu Têtu.