According to Ad Age, the return of the print edition of Newsweek magazine has been delayed until March, from an initial goal of January or February. The new cover date will be March 7.
Scott Miller, senior VP for global sales and marketing at IBT Media, which owns Newsweek, told Accuracy in Media that they are lining up the printing facilities and acquiring the necessary paper stock, etc… and that they should be ready to meet the new cover date target.
Miller explained that the new Newsweek will be very different than the old version or for that matter any news magazine currently on the market. They will be targeting a more affluent readership that is willing and able to pay $99 for 50 issues a year or $7.99 on the newsstand and won’t be anywhere near as reliant as other news magazines are on advertising.
That may be a smart move since the old Newsweek experienced double-digit ad-page declines in four of the last five years it was published and the ad market for magazines remains sluggish at best.
Miller added that ad sales have gone very well and that the magazine will be profitable with the first issue.
As a long-time reader of printed newspapers and magazines even in the digital age, if Impoco and Miller can pull this off, they will revolutionize what’s left of news magazine publishing.
But it won’t be easy in my opinion to attract and maintain a loyal subscriber audience for a magazine that hasn’t published since the end of 2012, in a very digital world where more and more people are receiving their news on mobile devices and where they want it now rather than a week from now, but stranger things have happened so we’ll just have to wait and see if they can succeed where Barry Diller and Tina Brown failed.