Upmarket news monthly Monocle has picked up 2,500 subscriptions so far – despite charging more for these than the newsstand price
Four issues in, editor Tyler BrÃ»lÃ© claimed he has shown that investment in editorial – rather than cost-cutting – can pay dividends.
‘We have decided to spend more money on editorial and on reproduction, and it’s been interesting to watch other media brands who want us to come and talk to them because we went in [that] direction. We’re charging 50 per cent more for our subscription, and charging openly for our web content.
‘There’s a consumer out there who is tired of the constant dumbing down. People are saying: ‘I will pay more for my subscription because I know it does take money to send journalists out to do original stories.’ You have the same relationship with your advertisers.”
The magazine’s subscription is £75 – £25 more than if picked up from the newsstand across the year.
The magazine will now go against the digital grain by closing off part of its website in the next few weeks.
Meanwhile, The Economist is set to boost its magazine portfolio with the relaunch of its annual Intelligent Life magazine as a quarterly.
Under editor Ed Carr, Intelligent Life is likely to target the high-end lifestyle sector – covering architecture, fashion, design and travel – setting itself in competition with the luxury men and women’s lifestyle and fashion titles.