Friday, 2 May 2014
Call it a morbid fascination, or maybe even schadenfreude; I was checking out the latest Roy Morgan readership figures for magazines and my attention was immediately caught by the fact that Foxtel Magazine’s readership has grown by 7.5 percent year on year.
Given that I forecasted this magazine would lose around 450,000 readers over the course of the next three years from 2013, I was (a) surprised; and (b) readying myself for a helping of humble pie. To be able to turn around a magazine’s fortunes by that much would be a massive credit to the people now running the show, not to mention a gross miscalculation on my part.
But then I remembered one important detail that only I and maybe a dozen other people are aware of: the readership for June 2013 should double to around 900,000 on account of the merging of publishing contracts between Bauer Media and Edge Custom Publishing.
What this means is that over the last 12 months, Foxtel Magazine has managed to lose around 40 percent of its readers – that’s pretty much every reader it gained from the merger. That’s anywhere between 400,000 to 450,000 readers in a year. That’s three times faster than I predicted.
So… I guess I should apologise for grossly underestimating the magazine’s rate of decline.
Sooner or later, someone is going to ask why they’re paying through the nose to print a magazine that’s bleeding readers through its arse.