News Magazine Proves It Is Possible to Thrive in This Economy

The Economist magazineTHE ECONOMIST and affiliated magazines in The Economist Group reported record profits for the fiscal year ended March 31.

The London-based company also reported ad revenue up 17%; worldwide circulation up 6.4%; ad revenue at economist.com up 29%; page views at the website up 53%.  No wonder that the newly repositioned and redesigned Newsweek wants to pattern itself after The Economist.

The Economist currently has a US circulation of 800,000 and it sells more than 75,000 copies a week on newsstands for $6.99 at a time when we’re told information wants to be free and newsstands are disappearing.

THE ATLANTIC attempted to explain why in “The Newsweekly’s Last Stand – Why The Economist is thriving while Time and Newsweek fade” by Michael Hirschorn:

“The Economist prides itself on cleverly distilling the world into a reasonably compact survey.  Another word for this is blogging, or at least what blogging might be after it matures – meaning, after it transcends its current status as a free-fire zone and settles into a more comprehensive system of gathering and presenting information.

True, The Economist virtually never gets scoops, and the information it does provide is available elsewhere … if you care to spend 20 hours Googling.  The real value of The Economist lies in its smart analysis of everything it deems worth knowing – and smart packaging, which may be the last truly unique attribute in the digital age.”

Or, as the company CEO Andrew Rashbass put it: “These results demonstrate that great brands delivering real value to readers and advertisers thrive even when the economic cycle turns and when the structure of the industry is evolving in the way information and advertising are consumed and delivered.”

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