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Wizard World Aware Of 50% Fall In Profits When They Announced New Magazine

Written by Tim Midura on Thursday, August 24 2017 and posted in News with Benefits
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Wizard World Aware Of 50% Fall In Profits When They Announced New Magazine

The company had an operating loss of $1.9 million.


Source: ICv2

Wizard World announced a new quarterly premium magazine earlier this month, despite being fully aware that their sales were down 40% in Q2 and had an operating loss of $1.9 million.

Most of the sales decline was in the company's convention revenue, which dropped due to a decline in the number of events, and to declining attendance at the remaining shows. The company produced five shows in the quarter vs. seven in Q2 2016. The more concerning decline was in revenue per show, which was down 27% from $1.4 million per show in 2016 to $987,000 per show in 2017.

Wizard showed a loss of $2.2 million in Q2 compared to a profit of $400,000 in Q1. And as everyone knows the best way to make money nowadays is in magazine sales.





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About the Author - Tim Midura


Born in the frozen tundra of Massachusetts, Tim Midura has long possessed a love for comic books and records. After stealing the beard of Zeus and inventing the pizza bagel, a much more heavily tattooed and bearded Tim Midura has finally settled in San Diego. He's the world's first comics journalist who doesn't want to become a comics writer. Find him on twitter, facebook or by email.


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