Hearst Magazines expects to reach 1 million paid digital subscribers by the end of next year as more consumers sign up to read titles on tablet computers, the company’s president said yesterday.

Hearst now boasts close to 400,000 digital subs to magazines such as Cosmopolitan, Esquire and Good Housekeeping.

That number is growing by 12 percent to 15 percent a month, according to Hearst Magazines President David Carey, who spoke at the Reuters Global Media Summit in New York.