Interesting article on Future Publishing (hope my friends there are OK):

Magazines were once a two revenue stream business. You got money from advertisers and readers. Successful publishing depended on holding the balance between the two. This delicate equipoise has gone. As cover price revenue either declines or refuses to grow then the bulk of the money that pays your salary comes from advertisers, sponsors and commercial partners.

Seems to apply to photography publishing in general? We’ll all have to sully ourselves.