Two rival US business magazines have launched campaigns to boost circulation and ad revenue.
Forbes and Fortune both plan to boost their rate base (the readership guaranteed to advertisers) on January 1st next year – Fortune from 810,000 to 830,000 and Forbes from 850,000 to 900,000. However, the crash in dotcom adspend and the rise of new technology-oriented publishing competitors threatens to lessen demand for ad space.
“We're certainly mindful of the competitive world we operate in”, commented Jack Haire, president of Fortune’s publishers the Fortune Group (part of Time) in New York. “But the reason the competition's there is that it's a great time to be covering business”.
Both campaigns portray business as a fierce battle for excellence. The theme of Forbes’ ads, created by Omnicom’s Merkley Newman Harty in New York, is ‘Never Settle’, and targets “the movers and shakers who won't settle for anything less than a life well lived,” according to Forbes president James S Berrien.
Fortune’s campaign is in the hands of Mullen Advertising in Wenham, Massachusetts, part of the Lowe division of Interpublic.
News source: New York Times