The Economist: A traditional company in a new space

The Economist global strategyA few years ago, BusinessWeek was valued at more than $1 billion and in October 2010 it was sold for a mere $5 million. When buying Newsweek in August 2010, the buyer Sydney Harman confessed, “Break-even is a serious accomplishment, especially in this world, the world of journalism. I’m not here to make money, I’m here to make joy.” Print media is considered a dying business now but even in this environment The Economist, one of the oldest magazines in political, economic and academic news, is growing steadily. While most of the industry players have lost readership, The Economist has increased circulation 95% over the past ten years. Its circulation has risen another 3.3% from 2008 to 2009 while the largest news magazines lost more than 25% of their circulation, with Business Week losing 2% circulation and Forbes remaining steady with a 0.1% gain.

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