We’ve leapfrogged the competition to become one of New Zealand’s largest circulating business titles. Official figures released by the Audit Bureau of Circulation today show Idealog’s total New Zealand net circulation is 12,221.
Here’s our press release:
“This is a great result. It puts Idealog almost on equal footing with the weekly newspaper National Business Review in circulation, and significantly ahead of all our major competitors,” says co-publisher Martin Bell.
Bell says the result is particularly gratifying because it’s based on only the first three issues of the magazine.
“We know that issue four has sold extremely well and issue five, out for just one week, is our biggest issue to date. Plus, subscriptions have been accelerating, so we expect our paid sales to continue to grow.”
Readership survey shows breakthrough product
The audit result coincides with the release of extremely positive feedback from a readership survey conducted by independent research company CBG Research.
After only four issues, the research by CBG shows:
- Readership is estimated at 32,337
- 32 percent of readers are senior managers or owner/entrepreneurs
- 37 percent of readers earn more than $100,000 a year
- Readers are evenly spread across Idealog’s target industries: technology, design, marketing, manufacturing, finance, advertising and engineering
- Readers, on average, spend an hour with their magazine—and 35 percent spend two hours
“The research is a real endorsement for what we set out to achieve,” says co-publisher Vincent Heeringa. “We want to inspire people about innovation and creativity; almost 90% of readers say the magazine achieves this for them.”
New business audience
Another interesting feature of Idealog is that it is attracting a new audience to the business category.
According to the research, the highest cross-over with another business title was with NBR—38 percent of Idealog readers say they also read NBR. Very few other business titles featured consistently in Idealog’s readers’ reading lists. That indicates Idealog readers weren’t just the regular readers of traditional business media.
Moreover, 45 percent of readers are female. This is an unusually high number for a business magazine.
“Idealog is attracting a new kind of reader to the business press,” says magazine co-founder David MacGregor. “We call them the Commercial Creatives. They are badly served by the traditional business press, which is typically all about reporting corporate shenanigans and has an obsession with trivia like tiny shifts in the Trade-Weighted Index.
“Idealog is all about passion, excitement, creativity and the sheer brilliance of Kiwi creative entrepreneurs.”
Idealog is grateful to AUT University, Baldwins, Image Centre, Microsoft and Telecom as foundational sponsors. Without their support and shared vision, it’s fair to say that Idealog would not exist.”
The research and circulation results top off a busy first half year for the Idealog team. Since its launch in December last year, Idealog has:
- Launched a comprehensive website (idealog.co.nz) with daily changing content including, blogs, event listings, jobs, podcasts and Web exclusives. NetRatings figures show the site already ranked 25th in newspaper and magazine websites
- Launched an online business directory called WhoZoo, with some 50 companies already listed and thousands of visits each month
- Sponsored the TV One primetime blockbuster show Dragon’s Den
- Run numerous events including a sold-out breakfast seminar series on Generation C
- Featured in numerous TV and radio shows, including an eight-minute segment on Campbell Live
- Completed a reader research programme by independent research company CBG Research
- Hired multi-award winning art director Adrian Clapperton
- Launched additional products including Telecom’s Advance magazine and a regular Creative Showcase advertising supplement
“This result is only possible with the outstanding work of our team to whom we owe a great deal of thanks; Anna Shrubshall (production), Ben Gibb (sales), Adrian Clapperton (art direction) and the incredibly talented Matt Cooney (editor, web guru, problem solver extraordinaire),” says Bell.