It is published by Dotdash Meredith, a subsidiary of IAC.[3] With a readership of 46.6 million adults in 2009, People had the largest audience of any American magazine, but it fell to second place in 2018 after its readership significantly declined to 35.9 million.[4][5] People had $997 million in advertising revenue in 2011, the highest advertising revenue of any American magazine.[6] In 2006, it had a circulation of 3.75 million and revenue expected to top $1.5 billion.[7] It was named "Magazine of the Year" by Advertising Age in October 2005, for excellence in editorial, circulation, and advertising.[8] People ranked number 6 on Advertising Age's annual "A-list" and number 3 on Adweek's "Brand Blazers" list in October 2006.