Forbes to launch European spin-off

14 December 2010

LONDON: Billionaire magazine owner Steve Forbes could launch a Forbes Europe title from London or Paris in 2011, due to improving conditions in the region's print media sector.

The chairman and editor-in-chief of the iconic business glossy said he believed there was now "a recovery coming".

Forbes' publishing firm, Forbes Media, has in recent years focussed its attention on emerging markets rather than on the more media-saturated arena of Western Europe.

Magazine adspend has contracted across the continent in recent years, due both to the ongoing digital revolution and difficult macro-economic conditions.

But discussions with potential advertisers for the new title have suggested that it would be well received.

Forbes added that Europeans had shown themselves to be increasingly interested in entrepreneurship and in business more generally.

"Even though everyone is focused on Ireland, Greece, Portugal and Spain, there is a recovery coming ... and this is precisely the right time to move in," he said.

"We want it [Forbes Europe] to be entrepreneurial ... this is the right time for a European magazine." 

Advertising revenues at Forbes Media had improved of late, he said, and the group had seen year-on-year increases of more than 20%.

Forbes noted that the automotive and financial services sectors in particular had started to make gains in recent times.

More generally, Forbes Media's Forbes and Forbes Asia collectively reach a worldwide audience of more than six million.

The two magazines' many licensee editions, published everywhere from China to Croatia, are simply local language versions of the main titles.

But Forbes Europe is likely to be in English and will contain original content.

Data sourced from Daily Telegraph; additional content by Warc staff