You’d never know it from the cuts across the board being made at publishers like Time Inc. and Forbes Media, but some of these companies’ titles are seeing a upswing in their readership. Lucia Moses of MediaWeek reported this week that Fortune, The Economist, Smart Money, The Wall Street Journal, Inc. and Forbes have all seen an increase in readers, ironically because of all the financial terror that has caused their publishers to make cuts in the first place.
So while audiences bemoan Rupert Murdoch’s pay wall plans, following The Wall Street Journal model, the paper itself has seen an 11.6 percent growth in overall readership from last year. And while Fortune may be cutting as many as 40 staffers over the next several weeks as part of Time Inc.’s reduction plan and Forbes let go 100 employees just last month, the two magazines have grown to 4.1 million (9 percent increase) and 6 million (11.5 percent) in total readers, respectively. And with the current trend seeing unemployment still on the rise among executives, you can bet one place they won’t be cutting back: their subscriptions to business magazines. Maybe next year’s jump in readers will be big enough that these titles can actually hire back some of their emaciated newsroom.
Previously: First on FBNY: Time Inc. Shutters Custom Pub Fortune Small Business, Forbes Layoffs Decimate Staff, Time Inc. Closes Door on Buyouts Today, WSJ Looks To Claim Title Of Number One Paper In Circulation