VentureBeat | New York Times
Five major magazine publishers launched their own digital newsstand today called Next Issue Media. Hearst, Conde Nast, Time Inc., Meredith, and News Corp. are basically trying to create a Netflix for magazines -- for $9.99 or $14.99 a month, subscribers can read unlimited amounts of the 32 included magazines. Its market is currently limited to newer Android tablets, but should come to the iPad later this year.

Women's Wear Daily
Editors and executives who gathered at the American Magazine Conference this week express optimism about their future on tablet devices. Hearst Magazines expects to have $10 million worth of e-subscriptions by next summer, president David Carey said. Hearst gets about 300,000 paid digital downloads a month and expects that to double with strong holiday sales of the Kindle Fire and Nook Color e-readers. Meanwhile, Conde Nast projects $15 million in tablet revenue this year (counting subscriptions and ad revenue). | Related: Magazine editors discuss the problems and successes of developing mobile and tablet content || Earlier: Hearst memo: We're becoming "the magazine company of the future"

Romenesko+ Misc.
In a letter sent this morning to all Hearst Magazines employees, president David Carey says tomorrow's HGTV Magazine tryout "is a testament to our conviction that every sector, every corner of the magazine industry, and every part of our company, is ripe for fresh thinking" and that "our philosophy that risk is necessary for both growth and continued success remains one of our core beliefs." He also says in his letter that starting with Good Housekeeping, and soon Woman’s Day, Hearst Magazines is rebuilding all of its digital publishing with HTML5. More from Carey after the jump: (more...)