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<p>Earlier this month it was announced that <em>The Economist </em>had effectively dodged the unfortunate fate that has befallen nearly every news organisation in the the English-speaking world by posting both profits <em>and</em> circulation increases <a href="http://www.btobonline.com/apps/pbcs.dll/article?AID=/20090624/FREE/906249982/1078" title="Economist">in fiscal year</a> 2009</p>
<blockquote>
<p>Revenue increased 17% to $510 million. The Economist’s worldwide circulation grew 6.4% to 1,390,780, according to the July-December 2008 Audit Bureau of Circulations report. The magazine’s circulation in India was up 37%."</p>
</blockquote>
<p>What this means for its new circulation and <a href="http://theideaspeople.economist.com/" title="Economist readership">readership figures</a> could be telling. According to the publication's own research, the average yearly income for its readers is $175,000 and the average net household worth is just shy of $1.7 million.</p>
<p>The magazine has the affluent, mover-and-shaker, business-person market pretty well pinned. Because of that, its advertisers are paying a premium to reach that audience. That is why I was confused when I <a href="http://www.brandrepublic.com/News/917582/Economist-launches-major-campaign-widen-its-readership/" title="Brand Republic">read in Brand Republic</a> today about <em>The Economist</em>'s plans to reach more people beyond its market.</p>
<blockquote>
<p>The ad will also run in a one off spot during channel 4 news on 5 July. A more extensive TV strategy is still being finalised. Print ads will run in the autumn and be supported by an extensive online campaign."</p>
</blockquote>
<p>Here's the ad they're running:</p>
<p>
<object height="344" width="425">
<param name="allowFullScreen" value="true" />
<param name="allowscriptaccess" value="always" />
<param name="src" value="http://www.youtube.com/v/Esx57x7CtZo&hl=en&fs=1&color1=0x5d1719&color2=0xcd311b" />
<param name="allowfullscreen" value="true" /><embed height="344" src="http://www.youtube.com/v/Esx57x7CtZo&hl=en&fs=1&color1=0x5d1719&color2=0xcd311b" type="application/x-shockwave-flash" width="425" />
</object>
</p>
<p>It reminds me a bit of <a href="http://www.washingtonpost.com/wp-dyn/content/article/2009/05/17/AR2009051702074.html" title="Newsweek">what's happening</a> at <em>Newsweek</em> in the U.S. Newsweek's circulation has dropped, and with it, so have its ad pages. So the powers that be have adopted a new strategy: to model Newsweek after <em>The Economist</em> by aiming for a smaller, more affluent readership. </p>
<p>Conversely, this move by <em>The Economist</em> looks to me like an attempt to be more like <em>Newsweek</em>. And the funny thing about that is <em>Newsweek</em> doesn't even want to be <em>Newsweek</em>.</p>
<p>Earlier this month it was announced that <em>The Economist </em>had effectively dodged the unfortunate fate that has befallen nearly every news organisation in the the English-speaking world by posting both profits <em>and</em> circulation increases <a title="Economist" href="http://www.btobonline.com/apps/pbcs.dll/article?AID=/20090624/FREE/906249982/1078">in fiscal year</a> 2009</p>
<blockquote>
<p>Revenue increased 17% to $510 million. The Economist’s worldwide circulation grew 6.4% to 1,390,780, according to the July-December 2008 Audit Bureau of Circulations report. The magazine’s circulation in India was up 37%."</p>
</blockquote>
<p>What this means for its new circulation and <a title="Economist readership" href="http://theideaspeople.economist.com/">readership figures</a> could be telling. According to the publication's own research, the average yearly income for its readers is $175,000 and the average net household worth is just shy of $1.7 million.</p>
<p>The magazine has the affluent, mover-and-shaker, business-person market pretty well pinned. Because of that, its advertisers are paying a premium to reach that audience. That is why I was confused when I <a title="Brand Republic" href="http://www.brandrepublic.com/News/917582/Economist-launches-major-campaign-widen-its-readership/">read in Brand Republic</a> today about <em>The Economist</em>'s plans to reach more people beyond its market.</p>
<blockquote>
<p>The ad will also run in a one off spot during channel 4 news on 5 July. A more extensive TV strategy is still being finalised. Print ads will run in the autumn and be supported by an extensive online campaign."</p>
</blockquote>
<p>Here's the ad they're running:</p>
<p>
<object classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" width="425" height="344" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,40,0">
<param name="allowFullScreen" value="true" />
<param name="allowscriptaccess" value="always" />
<param name="src" value="http://www.youtube.com/v/Esx57x7CtZo&hl=en&fs=1&color1=0x5d1719&color2=0xcd311b" />
<param name="allowfullscreen" value="true" /><embed type="application/x-shockwave-flash" width="425" height="344" src="http://www.youtube.com/v/Esx57x7CtZo&hl=en&fs=1&color1=0x5d1719&color2=0xcd311b" allowscriptaccess="always" allowfullscreen="true"></embed>
</object>
</p>
<p>It reminds me a bit of <a title="Newsweek" href="http://www.washingtonpost.com/wp-dyn/content/article/2009/05/17/AR2009051702074.html">what's happening</a> at <em>Newsweek</em> in the U.S. Newsweek's circulation has dropped, and with it, so have its ad pages. So the powers that be have adopted a new strategy: to model Newsweek after <em>The Economist</em> by aiming for a smaller, more affluent readership. </p>
<p>Conversely, this move by <em>The Economist</em> looks to me like an attempt to be more like <em>Newsweek</em>. And the funny thing about that is <em>Newsweek</em> doesn't even want to be <em>Newsweek</em>.</p>
2009-07-02T15:26:02+01:00
3
1
html
<p><img alt="The Economist launches massive ad campaign" height="86" src="http://farm4.static.flickr.com/3559/3681863792_6f07245e11.jpg?v=0" style="float: left;" width="175" /><strong>Today it was announced that the London-based current affairs/economics magazine </strong><em><strong>The Economist </strong></em><strong>is launching a far-reaching ad campaign aimed at broadening its readership. It's a unique title in a unique position with an equally unique readership. But an ad campaign could spoil that</strong><strong>...</strong></p>
<p><img style="float: left;" src="http://farm4.static.flickr.com/3559/3681863792_6f07245e11.jpg?v=0" alt="The Economist launches massive ad campaign" width="175" height="86" /><strong>Today it was announced that the London-based current affairs/economics magazine </strong><em><strong>The Economist </strong></em><strong>is launching a far-reaching ad campaign aimed at broadening its readership. It's a unique title in a unique position with an equally unique readership. But an ad campaign could spoil that</strong><span style="white-space: pre;"><strong>...</strong></span></p>
false
4144
The Economist launches a massive ad campaign - but is that a good thing?
false
2009-07-03T11:20:48+01:00
the-economist-launches-a-massive-ad-campaign-but-is-that-a-good-thing
2009-07-03T11:20:48+01:00
1655