The Reader’s Digest has been known all over America as a monthly magazine full of condensed copies of articles or novels formerly published in other places. For many years since its inception in 1922, it remained consistent with its growing number of followers who enjoy reading different feature stories, trivia, joke pages and how-to articles. According to Wikipedia, it has a readership of 38 million as measured by Mediamark Research (MRI).
Just recently, Reader’s Digest has announced its plan of filing for chapter 11 bankruptcy in order to reorganize the company’s debts and enable it to continue on with its operations. This plan, however, does not include the company’s international operations outside of the US. The move to file for bankruptcy was reported to be due to the decline in circulation and the company’s growing debts. In times like these, people are also stricter on how they spend their money which may have also added to Reader’s Digest’s decline in end user sales.
In line with this, middle of this year, the company has already expressed its move to cut circulation from 8 million to 5.5 million and for a 10 times publication instead of its normal 12, according to Wikipedia. Amid the recent financial situation of the company, it still has a strong follower of consumers in the US. Reader’s Digest is also still among the top selling magazines in its international counterparts.
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