Associated Newspapers is to defy the downturn in the publishing
industry with the launch of a standalone glossy monthly aimed at the
personal finance market.
The magazine, titled Money, will launch in January with a print run of
200,000 and cover price of £2.50, undercutting the cost of
existing financial titles such as Berkley Magazines' Moneywise.
Associated has set a target circulation of 100,000 after the first
year.
"We aim to take the number-one market slot within 12 months," said Chris
Grimes, the former head of business development at The National Magazine
Company, who was brought in to co-ordinate the launch. "We have 2.6
million unique readers of The Financial Mail and that gives us a great
platform to go out and attack the marketplace."
Money will carry full Financial Mail on Sunday branding on its cover and
will draw on the editorial resources of the newspaper. The Financial
Mail on Sunday editor, Ben Laurance, and the personal finance editor,
Jeff Prestridge, will both work on Money alongside its editor, Claire
Oldfield.
Money's 100 pages will incorporate financial reporting with lifestyle
stories aimed at an ABC1 audience over the age of 35.
"The response of advertisers has been positive and we believe Money will
be a success despite the tough market," Grimes said."We're confident we
can deliver fantastic readership and circulation."
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