TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Posts Tagged ‘poetry magazine’

How Poetry Magazine Is Spending Its $200 Million Donation

If you haven’t heard this story before, it’s a good one: in 2002, Ruth Lilly, an heir to a fortune built by Indianapolis pharmaceutical company Eli Lilly, donated $200 million to Poetry magazine, which at the time was a modest literary publication with a circulation of 10,000 and an annual budget of $700,000. The Chicago Tribune tells the fascinating story of how this enormous gift changed the game for poetry publishing.

Today, the foundation has a budget of more than $6 million. The magazine gets $1.5 million a year, and $2.2 million goes to educational programs. Poetry’s website alone receives a hefty $1.2 million, a point of contention in literary circles. Then there’s $1.3 million for administrative costs, including salaries for the 20-person staff. “We have a guideline that forces us to never spend more than 5 percent (annually) of the total market value of the endowment,” said John Barr, president of the Poetry Foundation.

How much has this helped? By some accounts, a great deal: circulation at the magazine is up to 26,000, and last spring the magazine won a National Magazine Award over favorites like the Paris Review. At the same time, more money, more problems: Barr has met with a huge amount of criticism for overspending and other management issues aside:

Read more

Mediabistro Course

Freelancing 101

Freelancing 101Starting August 18, learn how to manage a top-notch freelancing career in our online boot camp, Freelancing 101! Through a series of weeklong webcasts, you'll hear from freelancing experts who will teach you the best practices for a solid freelancing career, from the first steps of self-advertising and marketing, to building your schedule and securing new clients. Register now! 

2011 National Magazine Awards for Digital Media

We live-blogged the National Magazine Awards for Digital Media in New York City this afternoon.

The ceremony has concluded, but the complete list of winners follows below…

1:20 p.m. Epicurious has won the general excellence digital media, service and lifestyle award. Tablet Magazine has won the blogging award.

1:30 p.m.Life.com has won the photography and digital media award. The New York Times Magazine has won the design, digital media award.

Read more