“Jon Friedman’s Media Web” column on MarketWatch.com looks at how The Economist manages to grow (ad revenue is up 6% this year) while other titles flounder.
“The underlying problem in magazine publishing is that many books think that the readers are less valuable than the advertisers,” Paul Rossi, managing director and executive vice president of The Economist Group, Americas, said.
The Economist carries a hefty price tag of $6.99 an issue, but it offers no apologies.
“Once you’ve built a brand, you can put your prices up,” Rossi said. The price of a single copy of a magazine “should be at the top of the range, not the bottom.”