Portfolio's Nast-y Sales Figures

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How is that $100+mm magazine launch doing? You remember, the magazine that will print stories that are way over-covered in the first place but create novelty in having celebrities like Tom Wolfe write reductionist generalizations in flowery prose. Maybe that golden cityscape on the first cover of Conde Nast Portfolio was pyrite after all. Gawker has released some Portfolio sales figures received from an insider and although it may be too early to tell, Gawker reports that industry insiders are saying Portfolio kind of bombed at newsstands, considering the financial muscle used to peddle it.
Portfolio's goal is to sell 200k copies at newsstands this year. So far Portfolio has sold 30k copies in 23 full days of release (although only 15 days of national release, but a.) who outside of NY buys the magazine and b.) this probably slightly balances out sales inflation caused by the marketing push at the magazine's launch), which amounts to roughly 1.3k copies sold per day. If portfolio maintains this rate, it will sell over 300k copies by the end of the year, well ahead of expectations. At a cover price of $4.99, that $1.7mm in revenue from newsstand sales (and a rather nauseating 1% recoup of startup costs). The problem is - it is extremely doubtful that Portfolio will continue to sell 1.3k copies a day. Taking a hypothetical - if the current daily sales number halves for the rest of the year (or cools way off before August), the magazine will sell slightly over 180k copies.
The next issue of the magazine doesn't come out until August, and then normalizes into a monthly publication. It's unlikely that many new people will discover Portfolio's age-old ("Exchangeable Currency vs. the Barter System" by Dana Vachon) content who haven't already stopped to watch the potential Conde Nast car-wreck. In other words, that huge launch boost to carry the magazine through August didn't happen.
Is 'Portfolio' Selling Like Its Hype? [Gawker]

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