The Success of Marketing A Weekly Publication
The New York Times recently lauded the success of The Economist in marketing to the sophisticated. The Brits have always been perceived as 'cool', but a British weekly publication has been a marketing success even in the U.S.A.? That's almost unheard of.
Bankers read it in first-class seats; hipsters read it on the subway on their way to work; boomers and Gen-Xers both love it. The newsweekly, a bible of global affairs for those who want to aspire to be worldly, did not become a success overnight. It took 25 years of clever advertising that appeal to the status-seeking reader to help the magazine get there.
I've always been a big fan and a subscriber for the past three years – not for the status, per se, but for its global and big-picture editorial content. I've been telling my friends that not a week will pass in my life unless I've read both The Economist and Hello Canada - the former for my intellectual curiosity and the latter for my pop culture update! I like The Economist's formal, proper English writing style and the choice of its macro subject matters.
Since the magazine first began printing a North American edition in early 1981, its circulation has increased more than tenfold. When The Economist began reporting figures to the Audit Bureau of Circulations in 1982, it printed about 80,000 copies and sold fewer than 8,300 on the newsstand each week. As of its last accounting, for the first half of 2010, the magazine sold an average of about 52,000 on the newsstand each week and had a total weekly circulation of just under 823,000. When almost every other weekly publication has been suffering a decline in circulation numbers and is struggling for survivial, The Economist's success is impressive.
As an avid e-book reader, I don't understand why The Economist is not available on Amazon's Kindle. The Kindle has been touted as a single-purpose, electronic device designed for avid readers, and that's why there are no photos on the device. Ironicially, The Economist also focuses on the writing and the reporting, with very few photos in the entire publication. With the increasing popularity of e-books, It should be just a matter of time before these two find a match for each other!
Lina Ko










