The Wall Street Journal Asia topped the list in terms of advertising revenue (US$59.1 million) followed by Time Asia at $52.9 million and Newsweek Asia at $32.5 million.
Forbes Asia demonstrated significant growth of 31 per cent growth, from $12.4 million to $16.2 million.
Forbes Asia demonstrated significant growth of 31 per cent growth, from $12.4 million to $16.2 million.
According to the results, Newsweek Asia’s advertising revenue dropped by almost 12 per cent in 2007, and Time Asia’s revenue dropped by 7.5 per cent.
Both results drew little surprise from media agencies.
“I’m actually surprised that the drop isn’t bigger,” said Connie Chan, managing director at MEC Global Solutions, suggesting that Time’s statistics have benefited from the Time Warner sales team’’ prowess.
Said Chris Skinner, managing partner of Initiative in Hong Kong: “They’ve struggled to compete against online news sources and haven’t invested enough in their own online propositions.”
Another source pointed out that inflexibility on rates had hurt the magazines’ outlook.
“The magazines that are struggling have not adjusted their rates to fit the current media climate,” said a source.
“Forbes Asia is one of the few that does well in terms of sales, but they’re a unique exception, partially because of the innovative way they tap in to Steve Forbes’ personal fame,” said a source.
Meanwhile, both the Financial Times and The Wall Street Journal registered improved performances, growing advertising revenue by 13 and 18 per cent respectively, to leave them at an estimated $11.9 million and $59.1 million in ad revenue by the end of 2007.
“The FT is admittedly growing from a low base, but I think the interest in the financial markets have attracted advertising dollars over the past year,” said Skinner.
