The Philippines’ leading magazine publisher, Gokongwei-owned Summit Media, announced that it will discontinue the print editions of its six remaining glossy magazines, which will have their last issues published next month.
This development coincides with the “full digital transformation” of Summit Media. Here is their official statement:
“With over 20 million unique monthly users visiting its 15 websites and 33 million more fans following its brands on social media platforms, Summit Media is now the Philippines’ leading digital lifestyle network, and one of the top two local digital media companies in the country. Its expertise in creating data-informed quality content has allowed it to reach digital audiences comprising more than 25% of the country’s Internet population.
“This month, Summit Media completes its full digital transformation. The 450-strong company can now be called “digital-first” as it bids farewell to its magazine past, closing the six remaining print editions of Cosmopolitan, Preview, YES!. Top Gear, FHM, and Town & Country. These brands are already thriving online as Cosmo.ph, Preview.ph, Pep.ph (for YES!), Topgear.com.ph, FHM.com.ph, and Townandcountry.ph.
“Summit Media president Lisa Gokongwei-Cheng said: ‘As we embark on our new journey towards a wholly digital future, we look back at the values that made us successful, and one thing that stands out is our respect for our audiences. Our brands, each with its own strong voice and well-defined identity, have resonated with our audiences because they stand for something, which is why for 23 years, Summit published the most successful and well-loved magazines in the country’s history.’
“Today, we embrace the way our highly connected audiences now prefer to consume content. As we follow them from print to digital, we will continue our relentless pursuit and delivery of quality, up-to-the minute content and a dynamic and engaging editorial experience—this time, aided by data, which now pervades and informs many of our editorial decisions.
“Being highly data-informed arms us with an even better understanding of our audiences, enabling us to create more stories that appeal to their minds and passions, and empowering us to help our advertisers craft effective messages relevant to their audiences. In the past three years, Summit Media has become the leading creator of digital native advertising content in the country, generating more volume than all our competitors combined. On top of this transformation, the company’s other pillars, Outside of Home (OOH) media, book publishing, and content marketing remain robust.
“Summit Media was born auspiciously in an era of pulp and ink. We will always owe a debt of gratitude to the medium, to the brilliant teams whose dedication and efforts created magazines that excelled in that landscape, to the generations of loyal readers who not only supported their favorite brands but even imbibed their tenets and values, and to our advertisers, without whose partnership with and belief in us we would not have succeeded. Moving forward and into the future, we are excited as we continue to reinvent ourselves to become an even more compelling destination in a digital era where opportunities abound.”