But the social network’s advertising revenue grew 18.4% during the quarter.
Advance Publications, the parent of Conde Nast Publications, publisher of Bride's Magazine, has invested $18 million in bridal gift registry, shopping and content site WeddingChannel.com. Under the agreement, the magazine will supply content to the web site, while WeddingChannel.com becomes the official bridal registry site of Bride's Magazine. The magazine and web site will jointly pursue advertising, marketing and promotional opportunities online and in print, nationally as well as locally through local Internet sites affiliated with 26 regional and city newspapers. The investment and strategic alliance expand an existing relationship between the magazine and web site, strengthening the position of both in the highly competitive $70 billion wedding market.