It’s official: Bloomberg Businessweek is back.
The magazine, which lost $60 million in 2009, will raise its paid circulation to 980,000 this year.
That figure is 10,000 more than where it stood in 2006. (Bloomberg purchased the book from McGraw-Hill in December, 2009.)
More importantly, the publication’s advertising pages are up more than 15% in the first half of 2011.
It is still not profitable, but president Paul Bascobert expects it to be soon.
The magazine is returning to its previous heights, but there are still issues. According to AdAge, a high number of subscriptions are not purchased by individuals, which is a concern for advertisers
In the second half of last year, for example, individually-paid subscriptions made up just 58.2% of the magazine’s total paid and verified circulation, according to its report with the Audit Bureau of Circulations. Individually-paid subscriptions comprised 72.3% at Fortune, by comparison, and 74% at Forbes.
(The two magazines have seen their ad pages rise 1.9% and 2%, respectively over the first six months of 2011.)
Increasing the number of individual paid subscriptions is a priority for the publication.
Bloomberg Businessweek increased individually paid subscribers by 47,587 between the first half of last year and the second half. It will report a gain of 10,000 more when circulation figures for the first half of this year come out on Aug. 8, according to Alec Casey, the magazine’s head of circulation. “What we have done deliberately in the past year is grow our individual paid,” he said.
The work is not done, but overall, the magazine that looked in dire straights just two years ago is on the rebound. The articles are excellent, like a recent expose on MySpace, and the Richard Turley’s design is impressive. The readers are returning, as are the advertisers. In this world, that’s all you can ask.