Today, ADWEEK magazine reported "Biz Mags See Rise in Readership". According to the article, Forbes had an 11.5% gain in year-over-year total readership and Fortune rose by 9% year-over-year based on the latest MRI Fall 2009 data. Very interesting, especially since so many people seem to have written off the business magazines as antiquated, expensive to produce and inefficient vs. their newer online brethren. Yet the people have spoken, the votes are in and readership is on the rise.
Okay, so while all this has been going on, a majority of advertisers have been slashing budgets and year-to-date ad pages for the category are down over 30%. This has caused massive cutbacks in staff and even forced some publications to go out of business. But apparently there were some shrewd advertisers that continued to advertise in spite of the downturn and they are the ones now reaping the rewards. Alas, a classic example of how to "punch above your weight class". And the lesson holds... those who take advantage of the downturn and continue advertising usually get ad rates at significant discounts and run against less competition, affording them a greater share-of-voice. Oh, and the increased readership? Just icing on the cake. Such a bargain!
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