With business and finance publications running into choppy waters, as advertisers and subscribers abandon ship, Knight A. Kiplinger, editor in chief, Kiplinger’s Personal Finance magazine, wonders why some people who “gladly pay $4 for a latte at Starbucks --- sometimes every day --- balk at paying even $1 for an issue of a useful magazine,” notes Grumpy Editor.
Under his “The Power of Print” message to readers in the October issue, he points out “falling advertising and subscription revenues are plaguing many excellent magazines these days, including this one,” and cites SmartMoney, “a worthy competitor,” that is ceasing its print edition with the September issue.
Founded in 1947, Kiplinger’s was the first magazine to offer money management advice.
In his message, Kiplinger mentions, “our readers are among the most highly educated and affluent of all magazine readers. They tell market researchers that they really trust this magazine, and they spend a lot of time with each issue.”
He adds that advertisers “don’t seem to acknowledge the print audience” and “they are abandoning magazines at a steady pace, apparently believing that they can reach you more effectively on Web sites, including ours.”
Kiplinger observes that out of a half dozen personal finance publications competing in the 1990s, only Money and Kiplinger’s continue to roll off presses.
“We’re gratified that our Web audience continues to grow, but we love the business of print publishing, and we’re committed to it,” he concludes.