Tag Archives: Magazine industry
TALKING BIZ NEWS EXCLUSIVE
The 13 business magazines reported ad revenue of $1.17 billion in 2010, up 9.6 percent from the previous year, far outpacing the 3.1 percent increase for the entire magazine industry, according to data released Monday by the Publishers Information Bureau and analyzed by Talking Biz News.
Ad pages also rose 7.2 percent to 11,245.61 for the business magazines, which also outperformed the 0.1 percent decline in ad pages for the entire industry.
The increases reverse two years of declines. In 2009, the 15 business magazines reported a 21.7 percent decline in ad revenue and a 28.7 percent decline in ad revenue. The 2010 comparison excludes the 2009 data from Fortune Small Business and Conde Nast Portfolio, both of which closed in 2009.
The business magazine with the biggest increase in ad revenue was Wired, which was up 35.8 percent to $84.9 million. The business title with the biggest increase in ad pages for the year was Fast Company, which saw a 26.5 percent jump to 538.95 pages.
The only business title that did not see an increase in ad pages or ad revenue was Forbes. Its ad pages fell 4.8 percent to 1,844.84 in 2010, but its ad revenue rose 0.6 percent to $252.9 million. In terms of ad revenue and ad pages, it remains the No. 1 title.
The No. 2 business magazine in both categories is Fortune, which reported a 6.8 percent increase in ad revenue to $195.3 million and a 1 percent increase in ad pages to 1,539.23.
The No. 3 business magazine, Bloomberg Businessweek, reported a 6.3 percent increase in ad revenue to $172.7 million and a 3.5 percent increase in ad pages to 1,291.1.
Among the three personal finance titles, Money performed the best in terms of ad revenue with a 10.4 percent jump to $122.1 million, but Kiplinger’s Personal Finance performed the best in terms of ad pages, with a 9.3 percent increase to 305.97. Money and Smart Money still had more ad pages than Kiplinger’s.
The data for all magazines can be read here.
Business NH magazine, a monthly publication covering New Hampshire business, has been sold to its associate publisher, according to published reports.
Charles McMahon of the Portsmouth Herald writes, “Mahoney, a Portsmouth resident, sold Millyard Communications Inc., the publisher of Business NH Magazine and the producer of the Made in NH Try It and Buy It Expo and seven other statewide events, to Heidi Copeland of Peterborough, the magazine’s associate publisher.
“The transfer in ownership became official Dec. 31. Terms of the transactions were not disclosed.
“‘The team at Millyard has done a superlative job covering the New Hampshire business community and featuring issues that matter to the magazine’s readership,’ Mahoney said.
“Business NH Magazine started in 1983 and was touted as New Hampshire’s first statewide monthly business publication. Mahoney purchased it in 2003.”
Read more here.
TALKING BIZ NEWS EXCLUSIVE
Here are Talking Biz News’ top business journalism events for the year 2010:
10. Ad revenue returns to business magazines. After suffering two years of declines in advertising revenue and advertising pages, the third quarter of 2010 saw the 14 business magazines report a 7.9 percent increase in advertising revenue and a 5.4 percent rise in advertising pages. That compares to a 5.3 percent increase in ad revenue and a 3.6 percent increase in ad pages for the overall magazine industry. And Bloomberg Businessweek says it returned to positive growth in the fourth quarter.
9. Lou Dobbs returns to business journalism. The longtime business anchor at CNN had gotten away from a traditional business news show before he left the cable network in 2009. In 2010, he signed a deal to return to the air with Fox Business Network. Dobbs is a polarizing figure who will draw attention to Fox Business as it attempts to unseat CNBC as the No. 1 business news channel.
8. Business media apps proliferate. There were dozens of applications for smart phones, iPads and other technology launched by business news organizations in 2010, resulting in additional revenue and additional readers. Our favorite: The Financial Times and The Wall Street Journal on iPad.
7. “Nightly Business Report” is sold. The longtime public broadcasting business news show was sold in 2010 after being owned for more than 30 years by a Miami PBS station. There’s been some changes at the program, including a small reduction in staff, and some changes in content.
6. Bloomberg Businessweek’s redesign. The overhaul, launched in April, showed that its new owners were serious about keeping the weekly around after many predicted its demise. It’s now got much more of an edge and an attitude.
5. Shakeout among business journals. While business journals such as the Ocala Business Journal and the Blue Ridge Business Journal stopped publication, and business weeklies owned by Brown Publishing were sold across the country after it filed for bankruptcy court protection, American City Business Journals — the dominant player in the weekly market — got stronger by redesigning its sites and launching smart phone apps for all of its 40 papers. ACBJ also announced that it was returning a 5 percent pay cut it mandated in 2009 to its employees in early 2011.
4. Bloomberg decides to take over the world. No business journalism organization has been more aggressive in the past 12 months in expanding its reach. The New York-based Bloomberg News launched a number of newsletters and unveiled BGov, a new editorial service that will cover the intersection of business and government. It also announced it would be starting an editorial page in 2011.
3. Forbes’ top-to-bottom overhaul. The business magazine brought in chief product officer Lewis Dvorkin to lead a radical revamp of its entire operations. But, its changes have not come without criticism, as some have questioned its decision to allow companies to provide blog content on its site.
2. Bloomberg and Fox Business sue the federal government. Both news organizations want the federal government to release documents that show what was done to help Wall Street firms and other businesses during the economic crisis. After a protracted battle, it appears that business media has won. Their actions show that business media is looking out for the best interests of its consumers.
1. Hiring returns to business journalism. Talking Biz News estimated that roughly 400 business journalists lost jobs in 2009 as many media organizations cut back on their business news desks. However, in 2010, Talking Biz News estimates that 250 jobs were added in the field of business journalism, primarily at the wire services — Associated Press, Bloomberg (with at least 100 going to work for BGov), Dow Jones Newswires and Reuters all added to their business news staffs in the past 12 months. The Wall Street Journal also added to its staff, and other media, such as the Financial Times with its new FT Tilt product, also hired.
Amanda Andrews, the media editor of The Telegraph in London, writes that Forbes will launch a European edition in 2011.
Andrews writes, “Forbes Europe will be based in London or Paris and it will probably launch in 2011. Mr Forbes said he had spoken to European advertisers and there had been a lot of interest in Forbes Europe.
“‘Even though everyone is focused on Ireland, Greece, Portugal and Spain, there is a recovery coming. And this is precisely the right time to move in. We want it [Forbes Europe] to be entrepreneurial. This is the right time for a European magazine,’ he said.
“The company currently publishes Forbes and Forbes Asia, which together reach a worldwide audience of more than 6m readers. There are also licensee editions in many countries from China to Croatia.
“While the licensee editions are local language versions of Forbes, Forbes Europe‘s content, like Forbes Asia, would be in English with original, local content.”
Read more here.
Utah Business magazine has been sold to Utah Media Partners for an undisclosed price.
“‘We are pleased to become part of the Utah Media Partners family,’ said Tyler Dabo, publisher of Utah Business. ‘Utah Media Partners has been a strong player in publishing with Hometown Values magazine and adds stability to the Utah Business brand of products and services. We will continue to provide our readers and advertisers with the high-quality publication and events they have come to know and trust.’
“Dabo will remain as publisher and general manager. Utah Business will celebrate its 25th anniversary next year. The magazine produces the state’s only annual Book of Lists, comprehensive information and rankings about the state’s industries; the annual Business Utah, the official publication of Utah’s Governor’s Office of Economic Development; the quarterly Wasatch Digital iQ, Utah’s Technology Magazine; UB Daily e-mail news briefings; and weekly industry-specific newsletters.”
Read more here. The seller, Ohio Community Media, has been selling business publications in recent weeks. It also sold the The Business Ledger in Naperville, Ill. and the Fort Worth Business Press and Collin County Business Press in Texas. All of these publications were formerly owned by Ohio-based Brown Publishing, which went into bankruptcy court reorganization earlier this year.
Absolutely Business, a business magazine in upstate New York, has been sold to Johnson Newspaper Corp., owner of the Watertown Daily Times, for an undisclosed price.
“The acquisition of Absolutely Business from NepWest Enterprises marks an entry into magazine publishing for Johnson Newspapers, which publishes daily and weekly community newspapers and associated websites across New York.
“Absolutely Business publisher and Westelcom President Paul F. Barton said the sale of the magazine to Johnson Newspapers places it ‘in the hands of a company that will take it to its full potential.’”
Read more here.
The Wall Street Journal named Anthony Cenname as publisher of WSJ. magazine, the Journal’s glossy lifestyle magazine.
As publisher, he will oversee all advertising and marketing initiatives for WSJ. and develop strategies to drive revenue in the luxury categories through print, online, other digital properties and strategic partnerships. Cenname joined the Journal in May 2009 as multimedia sales director for the Luxury group.
“Our magazine business is growing at an opportune time, as the consumer and luxury categories rebound and the market improves,” said Michael Rooney, chief revenue officer, The Journal, in a statement. “With Anthony’s strong, proven track record and relationships combined with his passion for the business, I am excited for the magazine’s continued success.”
Cenname replaces Sophie Raptis, who has been named European sales director for the Journal, focusing on consumer and luxury products across the region. She will relocate to London and work closely with the Journal’s sales teams in Europe to further the expansion of WSJ. magazine and WSJ Weekend. Raptis joined WSJ. magazine in August 2009 as publisher, having previously served as international business group head for Times Media in London.
The Journal recently announced an increase in frequency for WSJ. beginning in March 2011, when nine issues will be published, followed by 10 issues in 2012. The magazine launched as a quarterly publication in September 2008 and transitioned to a schedule of six issues per year in March 2010.
Amy Wicks of Women’s Wear Daily is reporting that The Wall Street Journal plans to up the number of issues of its WSJ. magazine.
Wicks writes, “The supplement will increase its frequency to nine issues next year and 10 issues in 2012. The title launched as a quarterly in September 2008 and transitioned to six issues a year in March. New editor in chief Deborah Needleman’s first issue of WSJ. will make its debut Dec. 4 (coincidentally, Sally Singer’s first issue of T: The New York Times Style Magazine comes out the next day), while Tina Gaudoin’s last issue of WSJ. will be published this weekend, with model Arlenis Sosa on the cover.
“The title is distributed with the Journal, which has a circulation of more than 1.6 million, and a spokeswoman for WSJ. said 88 new advertisers have joined since the launch, with 48 of those increasing their exposure to other Journal properties.”
Read more here.
Tara McMeekin, the editor of News & Tech, writes about the WSJ. magazine and how it is building a new audience of Wall Street Journal readers.
McMeekin writes, “In addition to fueling an increase in the number of companies advertising in Dow Jones’ products, WSJ. gave The Journal an additional boost in Saturday single-copy sales. Equally important, the magazine helped transform how advertisers and ad agencies view The Journal franchise.
“‘In addition to having an influential audience, The Journal has a very affluent audience that spends a lot of money on consumer goods — and having this environment where they are comfortable with that in a magazine, glossy environment — it’s had a halo effect on the franchise overall,’ she said.
“Fish in a barrel as it may have appeared, Leach said it was still risky to launch a magazine geared at subscribers whose demographics indicated weren’t heavy consumers of lifestyle magazines.
“‘Our perception was that other magazines don’t have the quality and depth of coverage that would interest Wall Street Journal readers,’ she said.’We had to make a magazine that our readers would love — and we’ve definitelysucceeded in that regard.’”
Read more here.
TALKING BIZ NEWS EXCLUSIVE
The 14 business magazines that report advertising data to the Publishers Information Bureau outperformed the rest of the magazine industry, according to data released Monday that was analyzed by Talking Biz News.
The magazines reported a 7.9 percent increase in advertising revenue and a 5.4 percent rise in advertising pages. That compares to a 5.3 percent increase in ad revenue and a 3.6 percent increase in ad pages for the overall magazine industry.
Only Bloomberg Businessweek and Fortune reported declines in advertising revenue and ad pages for the quarter. The biggest gains were recorded by Black Enterprise, which saw a 39.9 percent jump in ad revenue to $8.25 million and a 45 percent increase in ad pages to 179.77 for the quarter, and Wired, which recorded a 45.8 percent increase in ad revenue to $20.9 million and a 32.8 percent increase in ad pages to 211.06.
Fortune retained its position as the business magazine with the most ad revenue — it had $50.8 million for the quarter. But The Economist sold the most ad pages, passing Fortune during the quarter. It sold 405.48 pages, compared to 398.44 pages for Fortune.
Forbes reported the strongest gains among the big players in the sector. It had a 6.9 percent increase in ad revenue to $42.4 million and a 0.7 percent increase in ad pages to 305.78.
By comparison, Bloomberg Businessweek reported a 5.2 percent drop in ad revenue to $33 million and a 9.3 percent drop in ad pages to 244.64. Fortune reported a 2.3 percent drop in ad revenue and an 8.5 percent decline in ad pages.
Among the personal finance magazines, Money reported the biggest increase in ad revenue — up 7.6 percent to $30.2 million — while Kiplinger’s Personal Finance had the biggest gain in ad pages — up 2.5 percent to 64.31.
Barron’s recorded strong gains as well. Its ad revenue rose 22.5 percent to $10.8 million, and its ad pages rose 16.2 percent to 229.34.
See all of the data here.