Frank A. Munsey was an exceptional man and deserves his
place in the history of American publishing. He was ambitious, energetic, creative,
intelligent, self-sacrificing, egocentric, and
driven. He is well known for
being the first to use pulpwood paper to control cost for the publication of Argosy magazine. His legacy, however, is hardly limited to this
single act.
Frank A. Munsey |
Horatio Alger, Jr. , whose Ragged Dick stories starting in 1868 were well-known at the time
that Munsey was growing up, wrote stories of boys and their “rags to riches”
lives. These boys succeeded because of their perseverance, total honesty, and
hard work. Munsey modeled his life on the influence of Alger’s writings. He would
grow from humble origins to a highly successful life as entrepreneur and
publisher.
Munsey was born to a farming family in remote Mercer, Maine
in 1854. He had failed at running a General Store before becoming a telegraph
operator and working his way to manager of the Western Union office in the
state capital of Augusta, Maine. In Augusta, he was exposed to state
legislators, businessmen, and their achievements. The publishing industry was
active there, and Munsey was exposed to the influence, power, and wealth that
might be realized.
Golden Argosy |
In 1882, with a few hundred dollars in his pocket and a Horatio Alger, Jr. story in his dossier, Munsey moved to New York City. Less than 3 months later, he published the first edition of Golden Argosy. Of course, like most dreamers, Munsey’s path to success was hindered by reality. True to the teachings of Alger, Munsey’s frugality, hard work, intelligence, and perseverance (and perhaps even a little luck) allowed him to continue.
Golden Argosy had
been aimed at boys and, although somewhat successful, would not sustain itself.
Boys don’t have money to spend on
advertiser’s products and they grow up, thus the market for the magazine was
naturally hindered. Munsey realized this difficulty and applied himself to
overcome the challenge. In 1889 he began to publish a second periodical, Munsey’s Weekly, for adult readers.
Munsey's Weekly |
Munsey’s Weekly soon
had a circulation of 40,000 copies each week. Munsey, who was now enjoying some
reward for his effort was not satisfied. He continued to aggressively work
toward greater circulation and continued growth. He realized that to succeed
his publications needed to have more than what he considered good ideas. Rather,
he needed readers who purchase magazines and the products of the advertisers.
Munsey's Magazine |
Golden Argosy was struggling
and Munsey’s Weekly, although doing
well, was not growing as it should. Munsey felt the growth in the newspaper
business, specifically the Sunday editions, would ultimately be the demise of
the weekly periodical business. He responded by changing Munsey’s Weekly to the monthly Munsey’s
Magazine in the fall of 1891. He priced the magazine competitively at 25
cents and educated himself regarding the differences between the monthly and
weekly periodicals. But, he was still not satisfied.
Munsey, Sept. 1899 |
He admired the Sunday newspapers because they appealed to
the full breadth of the market. There was something that appealed to the young
and the old, to both men and women, and from the bottom to the top of the
economic strata. He wanted to change the character of the magazine. So, Munsey
formulated a plan to make his magazine “light, bright, timely – a magazine of
the people and for the people, with pictures and art and good cheer and human
interest throughout.” The price would be dropped to ten cents in the hope of
meeting the means of just about everyone who could read. The hitch in the works
was distribution. The American News Company was an obstacle. It was the way
that periodicals reached the dealers in this country, and they were not
interested in Munsey’s idea of decreasing the price in order to increase
circulation. Munsey tried to go around them and solicited directly to the
dealers, but he received no response – at least not directly. The dealers,
however, submitted their orders directly to American News. In the end, American
News decided to make the deal with Munsey and Munsey’s Magazine sold 40,000 copies the first month, 60,000 the
second month, then 100,000, and progressively increased its circulation to 700,000.
Argosy, Dec 1896 |
Munsey maintained that the success of Munsey’s Magazine enabled the success of his entire business. Six
months later, Golden Argosy became The Argosy. In its eleven and a half
years, its life had been quite precarious. Circulation had dropped from 150,000
weekly down to 9,000 while most of Munsey’s energy had been going into the Munsey’s Magazine experiment. It was now
time to address his original dream.
Argosy, April 1922 |
The new Argosy
magazine would be an all-fiction magazine. In 1896, The Argosy began publishing using cheap pulpwood paper with a
better quality coated paper cover. Munsey was able to keep the price down and
produce a magazine that contained 192 pages of content. Circulation began to
climb steadily, and by 1903 had reached a half-million.
Munsey’s success increased after this, and by his 25th
anniversary in New York he owned 2 daily newspapers and 6 magazines – The Argosy, Munsey’s Magazine, The Scrap Book, The All-Story Magazine, and The
Railroad Man’s Magazine.
Munsey died in 1925, but his publishing empire continued to
operate until 1942 when it was taken over by competitor, Popular Publications. His
legacy of being the first to publish with cheap pulpwood paper is really just a
part of the story. He was a remarkable man who was not only entrepreneur, but
also writer, editor, salesman, and promoter. Perhaps most important was his
steadfast determination and empirical approach to business. His ideas of the
relationship between price and circulation and the relationship to ad revenue
may not have been unique to the industry but he proved the theories.
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