Newsweek Incorporated and Hong Kong's Vertex Group are poised to launch the Chinese-language Newsweek Select, in spring.
The monthly will be distributed in China and Hong Kong, with an initial circulation of 80,000 issues.
Under the exclusive five-year licensing deal, Vertex subsidiary Sinoworld CNW will publish Newsweek Select in simplified Chinese. However, content for the title, the US company's sixth non-English-language edition, will be sourced from the US title, says its New York-based chairman and editor-in-chief Richard Smith. "Newsweek Select will introduce Chinese readers to the very latest trends and advances in business, health, family life, science and technology, and entertainment. Our goal is to bring to Chinese-language readers important developments in the United States and the rest of the world," explains Smith.
The launch represents a broadening of Newsweek's relationship with Vertex, which had in the past published Chinese-language versions of Newsweek's special editions on child development and adult health.
The latest collaboration follows earlier forays by a handful of US titles, including Business Week, Forbes, Fortune and Harvard Business Review into the mainland. But how well will the latest American import be received by Chinese readers facing an increasingly cluttered print market?
Zoe Tan, vice-president, strategic resources at ZenithMedia, anticipates interest from mainly high-end consumers. "It will be well-received as long as its content is appealing and the positioning is unique. If Business Week has a commercial presence in China, there is no reason why Newsweek Select won't. The key will be whether or not the product itself will provide a value to the target readers."
Gilad Coppersmith, managing director, Northern China, Starcom MediaVest Group, isn't as optimistic. "I think the new magazine will be received with moderate enthusiasm at best." He believes that there is too much competition from other publications and online news sources. "Of course, it will not be able to publish anything contrary to the party line, but if it's through US and European content, it can provide a genuinely fresh perspective in the market and stand a chance."
Tan thinks three factors will make or break the magazine -timeliness of the content, the extent of China-related content and distribution.
"If it can meet all these successfully, it can be as competitive as its leading competitors."