Forbes Global is to launch a Singapore print site in October, about
a year-and-a-half ahead of schedule, because of better-than-expected
circulation growth in Asia-Pacific.
According to an ABC audit, the magazine's circulation over the first six
months of this year was 40,000 per issue and that for July and August,
the figure had risen to 44,000. This compares favourably with this
year's ratebase, which has been set at 35,000.
Forbes Asia managing director William Adamopoulos said he expected the
uptrend to continue and forecast a regional circulation of 50,000 by the
end of this year.
He said that rising circulation was because of editorial that was
forward-looking and analytical, which made it immune to all the free
news available on the 'Net.
"We're not just a news magazine; we look at what is behind the news; we
analyse. This is our important differentiation. If we just had news,
nobody would buy the magazine because they could get everything free
from the Internet," Mr Adamopoulos said.
Added Forbes Global editor Lawrence Minard: "News per se is just a
commodity, which you can get anywhere virtually free. But if you have
personality, strong opinions and views, and usefulness - trends,
predictions, insights - only then will people take you seriously."
Mr Adamopoulos said that Forbes Global's circulation rise was not due to
bulk distribution to hotels and airlines.
"Some publications are growing their circulation through bulk
distribution but this is of no use to advertisers, because most of this
part of the circulation is made up of low or no yield readers, who
consequently won't show up on the high-end radar," he said.
Forbes Global, he added, has attempted to lure the upscale market
through a variety of promotions including joint venture marketing
campaigns such as the one with Singapore's Business Times in February of
this year, which yielded some 3,000 new subscriptions.
Other similar joint-ventures have taken place in Taiwan and
Thailand.
Forbes Global, the international edition of Forbes, is currently printed
in France by Quebecor. From October, it will also be printed in
Singapore by Times Printers.
Mr Adamopoulos said, "With the circulation now over 40,000 per issue,
better economies of scale, speed to market and advertising and editorial
flexibility are key factors behind the magazine expanding its presence
in the Asia-Pacific region."
To support the expansion, Forbes Global has made a number of key
appointments - Ms Joyce Lim has been named the new circulation director,
while Ms Tina Wee has been tapped for the marketing manager's
position.
The pair were from Newsweek and Fortune respectively.
