Since I am getting more involved in the ﬁnancial world (shock, a marketing guy in ﬁnance?!), I was interested to learn from a contact in that industry that CurtCo, the publisher of The Robb Report and Worth (one of my favourites), is selling its 16 titles. From The New York Times:
The proposed sale comes as that high-end market is exploding. A report last month by the Spectrem Group, a Chicago consultancy, said that the ultrahigh net-worth market in the United States nearly doubled in the last three years, to 930,000 households. There are also more than ﬁve million households with net worth over $1 million, which aspire to the reach the next level of riches.
The company may have cornered this market. Its family of publications has a circulation of just over a million. Besides The Robb Report and a series of offshoots like Robb Report Luxury Home, the magazines includes Worth, Art & Antiques Magazine and ShowBoats International. …
The company has more than $100 million in revenue, which has grown at an annual rate of more than 25 percent.
They do say that if you can carve out a rich niche, changes in technology don’t impact you nearly as much. It seems to hold true in media, too, with CurtCo a relative newcomer to the internet and yet enjoying huge print publishing (and events’) success. The glossy magazine is far from dead. Posted by Jack Yan, 15:09
i hope to have some of these rich niche publications to be relevant to me someday.
but seriously, it will be intersting to see how the glossy magazine market will change as the internet becomes more and more previlant.
maybe it will be only relevant to people who are 'off the grid' and have the time to sit back and read a magazine?
older generation perhaps?
maybe we should be starting a magazine family that covers all the itnerests of an aging population and target it to the baby boomers?
Not a bad idea, Markoos. I believe magazines will always be around, just more as covetable items than throwaway things—because web news is already covering the latter. I remember when FHM began its web site and, if there were things I liked, I would seek out the hard copy (I was younger and more of a perve back then). Hence, magazines need to have premium positions in terms of their quality of execution—but they also need to reach mainstream audiences so they will purchase them for their coffee-tables as a form of “attainable luxury” item.Post a Comment
Links to this post:
NoteEntries from 2006 to the end of 2009 were done on the Blogger service. As of January 1, 2010, this blog has shifted to a Wordpress installation, with the latest posts here.
With Blogger ceasing to support FTP publishing on May 1, I have decided to turn these older pages in to an archive, so you will no longer be able to enter comments. However, you can comment on entries posted after January 1, 2010.
Individual JY&A and Medinge Group blogs
DonateIf you wish to help with my hosting costs, please feel free to donate.
Copyright ©200210 by Jack Yan & Associates. All rights reserved. Photograph of Jack Yan by Chelfyn Baxter.