MEDIA: BUSINESS TITLES - Appealing to a new breed of executive. The success of the e-conomy has created opportunities for a greater number of business titles, covering both the ’new’ and ’old’ economies, to thrive

The business magazine market has traditionally been stable. New launches come but, to a large extent, they also go. In the 1980s Financial Weekly launched and struggled before closing, while in the 1970s Investors Guardian met a similar fate. Even Now, the current affairs and business magazine backed by James Goldsmith’s millions, failed to make it in to the 1990s.

The business magazine market has traditionally been stable. New

launches come but, to a large extent, they also go. In the 1980s

Financial Weekly launched and struggled before closing, while in the

1970s Investors Guardian met a similar fate. Even Now, the current

affairs and business magazine backed by James Goldsmith’s millions,

failed to make it in to the 1990s.



There is now a rash of new titles preparing to go to market, many of

which are cashing in on the so-called ’new economy’, covering the boom

in e-business professionals. Emap is currently working on a men’s

magazine with a business twist in the mould of US rich people’s title

Forbes.



At the same time, Future Publishing is importing Business 2.0, the

successful US ’new economy’ magazine, an independent publishing house

Spitalfields is looking at launching a new business monthly in a similar

vein to the German left-of-centre financial title Brand Eins and

Bristol-based Hewett and Stott are preparing to launch an internet

business title called e-web.



There are concerns, however, that the UK market is not ready to support

such a range of new titles. In the UK, business magazines that prosper

tend to be highly specific niche business-to-business titles. The

generalist press have sometimes struggled. Traditionally, the British

reader has taken business news from the daily and Sunday newspapers,

rather than magazines. This is in stark contrast to the US, where weekly

business magazines have provided that sort of coverage due to the lack

of any real national business reporting in the US and the perceived

weakness of the business coverage of the New York Post or Washington

Post.



The clear exception is the Economist, the UK’s biggest magazine export,

which has survived for over 150 years. ’The reasons the Economist is so

successful today are threefold,’ explains Andy Cornelius, executive

director at financial PR giants Citigate Dewe Rogerson. ’It invests

heavily in absolutely top-flight journalism, it has a very powerful

brand-building marketing campaign but it’s also a global brand. It’s a

world business magazine that happens to be written in the UK. It has

circulation in Europe, Asia and the US so the UK is only a small part of

its market.’



Curiously, at the same time that all these new launches are flooding on

to the market, the Economist itself is undergoing its first strategy

review, showing that, for all its global brand confidence, the business

magazine market is no place to rest on your laurels.





BUSINESS AGE - Chris Butt



Position: Editor-inchief



Publisher: Priori Publishing



Frequency: Monthly





’We took over Business Age about a year ago, and we were very

disappointed to find that it had no ABC and we couldn’t apply for one

until June. We’re in the process of turning the magazine around. Our

first ABC is due in June and should be around 50,000.



’We’ll be focusing a lot more on people in business - writing

aboutrags-to-riches stories. To that end, we’ve just hired an excellent

new photographer, Maynard Firth, who is going to be doing some stunning

portraits for us.



’I think around 60 to 70 per cent of the title will be about successful

business people, but we’re not going to just write good news

stories.



The title will have bite.



’We’re very UK-focused although we will do stories overseas, it’s the

British economy that interests us most. We’ve got an e-commerce and IT

section, but we’re wary of over-kill in that sector. The whole magazine

could be full of technology stories, but I think it’s an untried market

and the BMW/Rover story shows that there are still real issues in the

real economy.



’I think there’s room for all the titles. In fact there’s probably room

for a few more launches.’





BUSINESS 2.0 UK - Marcus Austin



Position: Senior editor



Publisher: Future Publishing



Frequency: Monthly



’Business 2.0 UK is the UK version of the two-year-old, 500-page US

monthly business magazine. Our cover strap line boasts ’new economy, new

rules, new leaders’ and essentially this is what Business 2.0 is all

about. Business 1.0 was the pre-internet economy, Business 2.0 is all

about the internet-based economy. The internet has basically redefined

the way people and companies work and what we hope to do is to help set

out the new rules of the game.



’Business 2.0’s main mission is to clarify and demystify business today.

To provide critical reporting on what’s working and what isn’t. To be an

indispensable tool for business.



’The new business people are driving a new economy, creating explosive

opportunity, arousing excitement, passion, and fear and the networked

economy they’re producing is the most important force shaping commerce

today. It radically transforms business, careers, and lifestyles.



’One of the other main differences between our magazine and the many

others due to launch this year is our advisory panel, made up of

internet business leaders from every sector; to maintain inside links

with the fast-changing internet industry.’





THE ECONOMIST - Bill Emmott



Position: Editor



Publisher: The Economist Newspaper



Frequency: Weekly



’The new economy has had three effects on our business. Firstly there

are new readers who want to find out what’s going on. Secondly, our

existing readers who want to learn, understand, buy it. Thirdly, we’ve

got advertisers queueing up to reach our readers. That’s why our

worldwide ABC is climbing and our ad revenue is increasing.



’Our strongest areas are still the UK, the US and western Europe and its

US advertisers in particular that have been turning to us. We’ve changed

the structure of the magazine to cope with this. We publish 20 special

reports a year, flagship features looking at geographic or economic

areas.



’Last year, four were on the new economy. This year it will be five.

Since January, we’ve run weekly, three-page features in this area,

allowing us to put it on the cover every week. Later in the year, we’ll

start a series of quarterly reports on technology. Interestingly, we are

seeing a demographic change in our readers as a result of this.

Traditionally, people read us between 18 and 23 and then go off and

party until they are thirty-something, and then they return. Now, we’re

seeing far more twenty-somethings enter the entrepreneurial field so

they’ve start reading the Economist too.’



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