The Economist Group has bucked the trend of the magazine industry by recording a 6.1% increase in circulation in Asia Pacific.
The magazine sold 143,000 copies per week in the Asia Pacific region, which includes Australia, for the year ending 31 March 2011. Revenues in Asia Pacific increased by 32%, despite tough economic conditions.
According to the Audit Bureaux of Australia, The Economist's worldwide print circulation grew by 4% to 1,473,939 from July to December 2010, and there was an overall 15% increase in advertising spend, including 23% growth in digital advertising.
Chief executive of The Economist group Andrew Rashbass said: “These results continue to reflect the strength and integrity of our brands and the commitment and skill of the great people who work for the Group.”
The Group's finance director Chris Stibbs added: “The results show further good growth in earnings and cash flow in a year where the Group continued to increase its investments in key strategic initiatives. Our financial robustness provides a solid platform for successfully navigating the economic and other challenges faced by our industry.”
Have something to say? Send us your comments using the form below or contact the writer at lucybarbour@yaffa.com.au.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.