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Time (magazine)

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"TIME" redirects here. For other uses, see Time (disambiguation).
Time
Managing EditorNancy Gibbs
CategoriesNews magazine
FrequencyWeekly
Total circulation
(2013)		3,289,387[1]
First issueMarch 3, 1923 (1923-03-03)
CompanyTime Inc. (Time Warner)
CountryUnited States
Based inNew York City
LanguageEnglish
Websitewww.time.com
ISSN0040-781X
OCLC1311479

Time (often written in all-caps as TIME) is an American weekly news magazine published in New York City. It was founded in 1923 and for decades dominated by Henry Luce, who built a highly profitable stable of magazines. A European edition (Time Europe, formerly known as Time Atlantic) is published in London and also covers the Middle East, Africa and, since 2003, Latin America. An Asian edition (Time Asia) is based in Hong Kong. The South Pacific edition, which covers Australia, New Zealand, and the Pacific Islands, is based in Sydney, Australia. In December 2008, Time discontinued publishing a Canadian advertiser edition.[2]

Time has the world's largest circulation for a weekly news magazine, and has a readership of 25 million, 20 million of which are based in the United States.[citation needed]

Richard Stengel was the managing editor from May 2006 to October 2013, when he joined the U.S. State Department.[3][4] Nancy Gibbs has been the managing editor since October 2013.[4]

History

The first issue of Time (March 3, 1923), featuring Speaker Joseph G. Cannon.

Time magazine was created in 1923 by Briton Hadden and Henry Luce, making it the first weekly news magazine in the United States.[5] The two had previously worked together as chairman and managing editor respectively of the Yale Daily News. They first called the proposed magazine Facts. They wanted to emphasize brevity, so that a busy man could read it in an hour. They changed the name to Time and used the slogan "Take Time–It's Brief".[6] Hadden was considered carefree and liked to tease Luce and saw Time as important but also fun, which accounted for its heavy coverage of celebrities (including politicians), the entertainment industry, and pop culture—criticized as too light for serious news.

It set out to tell the news through people, and for many decades the magazine's cover depicted a single person. The first issue of Time was published on March 3, 1923, featuring Joseph G. Cannon, the retired Speaker of the House of Representatives, on its cover; a facsimile reprint of Issue No. 1, including all of the articles and advertisements contained in the original, was included with copies of the February 28, 1938 issue as a commemoration of the magazine's 15th anniversary.[7] On Hadden's death in 1929, Luce became the dominant man at Time and a major figure in the history of 20th-century media. According to Time Inc.: The Intimate History of a Publishing Enterprise 1972–2004 by Robert Elson, "Roy Edward Larsen [...] was to play a role second only to Luce's in the development of Time Inc". In his book, The March of Time, 1935–1951, Raymond Fielding also noted that Larsen was "originally circulation manager and then general manager of Time, later publisher of Life, for many years president of Time Inc., and in the long history of the corporation the most influential and important figure after Luce".

Around the time they were raising $100,000 from wealthy Yale alumni like Henry P. Davison, partner of J.P. Morgan & Co., publicity man Martin Egan and J.P. Morgan & Co. banker Dwight Morrow, Henry Luce, and Briton Hadden hired Larsen in 1922 – although Larsen was a Harvard graduate and Luce and Hadden were Yale graduates. After Hadden died in 1929, Larsen purchased 550 shares of Time Inc., using money he obtained from selling RKO stock which he had inherited from his father, who was the head of the Benjamin Franklin Keith theatre chain in New England. However, after Briton Hadden's death, the largest Time stockholder was Henry Luce, who ruled the media conglomerate in an autocratic fashion, "at his right hand was Larsen", Time's second-largest stockholder, according to Time Inc.: The Intimate History of a Publishing Enterprise 1923–1941. In 1929, Roy Larsen was also named a Time Inc. director and vice-president. J. P. Morgan retained a certain control through two directorates and a share of stocks, both over Time and Fortune. Other shareholders were Brown Brothers W. A. Harriman & Co., and The New York Trust Company (Standard Oil).

By the time Henry Luce passed away in 1967, the Time Inc. stock which Luce owned was worth about $109 million and yielded him a yearly dividend income of more than $2.4 million, according to Curtis Prendergast's The World of Time Inc: The Intimate History of a Changing Enterprise 1957–1983. The value of the Larsen family's Time stock was now worth about $80 million during the 1960s and Roy Larsen was both a Time Inc. director and the chairman of its Executive Committee, before serving as Time's vice-chairman of the board until the middle of 1979. According to the September 10, 1979 issue of The New York Times, "Mr. Larsen was the only employee in the company's history given an exemption from its policy of mandatory retirement at age 65".

After Time magazine began publishing its weekly issues in March 1923, Roy Larsen was able to increase its circulation by utilizing U.S. radio and movie theaters around the world. It often promoted both Time magazine and U.S. political and corporate interests. According to The March of Time, as early as 1924, Larsen had brought Time into the infant radio business with the broadcast of a 15-minute sustaining quiz show entitled Pop Question which survived until 1925". Then, in 1928, Larsen "undertook the weekly broadcast of a 10-minute programme series of brief news summaries, drawn from current issues of Time magazine [...] which was originally broadcast over 33 stations throughout the United States".

Larsen next arranged for a 30-minute radio program, The March of Time, to be broadcast over CBS, beginning on March 6, 1931. Each week, the program presented a dramatisation of the week's news for its listeners, thus Time magazine itself was brought "to the attention of millions previously unaware of its existence", according to Time Inc.: The Intimate History of a Publishing Enterprise 1923–1941, leading to an increased circulation of the magazine during the 1930s. Between 1931 and 1937, Larsen's The March of Time radio program was broadcast over CBS radio and between 1937 and 1945 it was broadcast over NBC radio – except for the 1939 to 1941 period when it was not aired. People Magazine was based on Time's People page.

Time became part of Time Warner in 1989, along with Warner Bros. when Time, Inc. and Warner Communications merged. Jason McManus succeeded Henry Grunwald in 1988 as Editor-in-Chief and oversaw the transition before Norman Pearlstine succeeded him in 1995.

In 2000, the magazine became part of AOL Time Warner, which reverted to the name Time Warner in 2003.

In 2007, Time moved from a Monday subscription/newsstand delivery to a schedule where the magazine goes on sale Fridays, and is delivered to subscribers on Saturday. The magazine actually began in 1923 with Friday publication.

During early 2007, the year's first issue was delayed for roughly a week due to "editorial changes", including the layoff of 49 employees.[8]

In 2009 Time announced that they were introducing a personalized print magazine, Mine, mixing content from a range of Time Warner publications based on the reader's preferences. The new magazine met with a poor reception, with criticism that its focus was too broad to be truly personal.[9]

The magazine has an online archive with the unformatted text for every article published. The articles are indexed and were converted from scanned images using optical character recognition technology. There are still minor errors in the text that are remnants of the conversion into digital format.

Time Inc. and Apple have come to an agreement wherein U.S. subscribers to Time will be able to read the iPad versions for free, at least until the two companies sort out a viable digital subscription model.[10]

In January 2013, Time Inc. announced that it would cut nearly 500 jobs – roughly 6% of its 8,000 staff worldwide.[11] Although Time magazine has maintained high sales, its ad pages have declined significantly over time.[12]

Also in January 2013, Time Inc. named Martha Nelson as the first female editor-in-chief of its magazine division.[13] In September 2013 Nancy Gibbs was named as the first female managing editor of Time magazine.[13]

Circulation

Time magazine paid circulation by year
Year 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Circulation (millions) 4.2 4.1 4.1 4.1 4.1 4.1 4.1 4.0 4.0 4.1 3.4 3.4 3.4

During the second half of 2009 the magazine saw a 34.9% decline in newsstand sales.[14] During the first half of 2010, there was another decline of at least one-third in Time magazine sales. In the second half of 2010, Time magazine newsstand sales declined by about 12% to just over 79,000 copies per week.

Style

Time initially possessed a distinctive writing style, making regular use of inverted sentences. This was parodied in 1936 by Wolcott Gibbs in The New Yorker: "Backward ran sentences until reeled the mind [...] Where it all will end, knows God!"[15]

File:Internationaltime.jpg
Benedict Cumberbatch on the cover of Time international edition, October 2013

Until the mid-1970s, Time had a weekly section called "Listings", which contained capsule summaries and/or reviews of then-current significant films, plays, musicals, television programs, and literary bestsellers similar to The New Yorker's "Current Events" section.[16]

Time is also known for its signature red border, first introduced in 1927. The iconic red border was homaged or satirized by Seattle's The Stranger newspaper in 2010.[17]

The border has only been changed four times since 1927: The issue released shortly after the September 11 attacks on the United States featured a black border to symbolize mourning. However, this edition was a special "extra" edition published quickly for the breaking news of the event; the next regularly scheduled issue contained the red border. Additionally, the April 28, 2008 Earth Day issue, dedicated to environmental issues, contained a green border.[18] The next change in border was in the September 19, 2011 issue, commemorating the 10th anniversary of September 11 attacks with a metallic silver border. The most recent change (again with a silver border) was in the December 31, 2012 issue, noting Barack Obama's selection as Man of the Year.

In 2007, Time engineered a style overhaul of the magazine. Among other changes, the magazine reduced the red cover border in order to promote featured stories, enlarged column titles, reduced the number of featured stories, increased white space around articles, and accompanied opinion pieces with photographs of the writers. The changes have met both criticism and praise.[19][20][21]

Special editions

Person of the Year

Main article: Time Person of the Year

Time's most famous feature throughout its history has been the annual "Person of the Year" (formerly "Man of the Year") cover story, in which Time recognizes the individual or group of individuals who have had the biggest impact on news headlines over the past 12 months. The distinction is supposed to go to the person who, for good or ill, has most affected the course of the year; it is therefore not necessarily an honor or a reward. In the past, such figures as Adolf Hitler and Joseph Stalin have been Man of the Year.

In 2006, the Person of the Year was designated as "You", a move that was met with split reviews. Some thought the concept was creative; others wanted an actual person of the year. Editors Pepper and Timmer reflected that, if it had been a mistake, "we're only going to make it once".[22]

Time 100

Main article: Time 100

In recent years Time has assembled an annual list of the 100 most influential people of the year. Originally, they had made a list of the 100 most influential people of the 20th century. These issues usually have the front cover filled with pictures of people from the list and devote a substantial amount of space within the magazine to the 100 articles about each person on the list. There have, in some cases, been over 100 people, when two people have made the list together, sharing one spot.

The magazine also compiled "All-TIME 100 best novels" and "All-TIME 100 best movies" lists in 2005,[23][24][25] "The 100 Best TV Shows of All-TIME" in 2007,[26] and "All-TIME 100 Fashion Icons" in 2012.[27]

Time for Kids

Main article: Time for Kids

Time for Kids is a division magazine of Time that is especially published for children and is mainly distributed in classrooms. TFK contains some national news, a "Cartoon of the Week", and a variety of articles concerning popular culture. An annual issue concerning the environment is distributed near the end of the U.S. school term. The publication rarely exceeds ten pages front and back. It is used in many libraries.[how?]

Staff

Editors

Managing editors

Managing Editor Editor From Editor To
T. S. Matthews 1943 1949
Roy Alexander 1949 1960
Otto Fuerbringer 1960 1968
Henry Grunwald 1968 1977
Ray Cave 1979 1985
Jason McManus 1985 1987
Henry Muller 1987 1993
James R. Gaines 1993 1995
Walter Isaacson 1996 2001
Jim Kelly 2001 2005
Richard Stengel 2006 2013
Nancy Gibbs 2013 Present

Notable contributors

See also

Notes and references

  1. ^ "Consumer Magazines". Alliance for Audited Media. Retrieved February 10, 2014.
  2. ^ "Time Canada to close". mastheadonline.com. December 10, 2008. Retrieved September 6, 2011.
  3. ^ Time Inc (July 30, 2012). "Richard Stengel". TIME Media Kit. Time Inc. Retrieved August 22, 2012.
  4. ^ a b Maza, Erik (September 17, 2013). "Nancy Gibbs Named Time's Managing Editor". WWD. Retrieved September 17, 2013.
  5. ^ "History of TIME". TIME magazine.
  6. ^ Brinkley, The Publisher, pp 88–89
  7. ^ "Instant History: Review of First Issue with Cover". Brycezabel.com. March 3, 1923. Retrieved January 26, 2014.
  8. ^ "Time Inc. Layoffs: Surveying the Wreckage". Gawker. Retrieved December 15, 2007.
  9. ^ "Time's foray into personal publishing". April 27, 2009. Retrieved December 15, 2007.
  10. ^ Adams, Russell (May 2, 2011). "WSJ.com, Time Inc. in iPad Deal With Apple". Online.wsj.com. Retrieved January 26, 2014.
  11. ^ "Time Inc. Cutting Staff", Wall Street Journal, January 30, 2013. Retrieved February 12, 2013.
  12. ^ "Time Inc to Shed 500 Jobs", Greenslade Blog, The Guardian, January 31, 2013. Retrieved February 12, 2013.
  13. ^ a b Haughney, Christine (September 17, 2013). "Time Magazine Names Its First Female Managing Editor". The New York Times.
  14. ^ Clifford, Stephanie (February 8, 2010). "Magazines' Newsstand Sales Fall 9.1 Percent". The New York Times.
  15. ^ The New Yorker - Google Books. Books.google.com. Retrieved January 26, 2014.
  16. ^ "TIME Magazine archives". Time.
  17. ^ Lin, Tao (September 21, 2010). "Great American Novelist". TheStranger.com. Retrieved May 30, 2011.
  18. ^ MSNBC-TV report by Andrea Mitchell, April 17, 2008, 1:45 pm .
  19. ^ Joe Hagan (March 4, 2007). "The Time of Their Lives". NYMag.com. New York Magazine. Retrieved August 22, 2012.
  20. ^ Bruce Nussbaum (March 25, 2007). "Does The Redesign of Time Magazine Mean It Has A New Business Model As Well?". Bloomberg Businessweek. BLOOMBERG L.P. Retrieved August 22, 2012.
  21. ^ Will, George F. (December 21, 2006). "Full Esteem Ahead". The Washington Post.
  22. ^ "The Time of Their Lives". Retrieved April 22, 2007.
  23. ^ Corliss, Richard (February 12, 2005). "All-TIME 100 Movies". Time. {{cite news}}: Unknown parameter |coauthors= ignored (|author= suggested) (help)
  24. ^ "Best Soundtracks". Time. February 12, 2005.
  25. ^ Corliss, Richard (June 2, 2005). "That Old Feeling: Secrets of the All-Time 100". Time.
  26. ^ Poniewozik, James (September 6, 2007). "The 100 Best TV Shows of All-TIME". Time.
  27. ^ "All-TIME 100 Fashion Icons". Time. April 2, 2012.
  28. ^ Blackman, Ann. "Ann Blackman – Off to Save the World: How JULIA TAFT Made a Difference". Promotional website. Retrieved January 28, 2012.

Bibliography

  • Brinkley, Alan. The Publisher: Henry Luce and His American Century, Alfred A. Knopf (2010) 531 p. "A Magazine Master Builder" Book review by Janet Maslin, The New York Times, April 19, 2010 (p. C1 of the NY ed. April 20, 2010). Retrieved 2010-04-20
  • Brinkley, Alan. What Would Henry Luce Make of the Digital Age?, TIME (April 19, 2010) excerpt and text search
  • Baughman, James L. Henry R. Luce and the Rise of the American News Media (2001) excerpt
  • Elson, Robert T. Time Inc: The Intimate History of a Publishing Enterprise, 1923–1941 (1968); vol. 2: The World of Time Inc.: The Intimate History, 1941–1960 (1973), official corporate history
  • Herzstein, Robert E. Henry R. Luce, Time, and the American Crusade in Asia (2006) excerpt and text search
  • Herzstein, Robert E. Henry R. Luce: A Political Portrait of the Man Who Created the American Century (1994).
  • Wilner, Isaiah. The Man Time Forgot: A Tale of Genius, Betrayal, and the Creation of Time Magazine, HarperCollins, New York, 2006
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