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Bloomberg Businessweek to Increase Rate Base to 980,000

Tuesday, August 02, 2011

Press release from the issuing company

NEW YORK -- Bloomberg Businessweek announced today that it will expand its reach in Europe and Asia with two new regional editions and raise its rate base from 900,000 to 980,000 in early 2012. Continuing the momentum of strong growth in ad revenue, paid circulation, and global coverage, the magazine will leverage Bloomberg's reach to deliver advertisers an even wider, more global, audience and readers more locally-focused content.

Bloomberg Businessweek has seen a strong pattern of growth since relaunching in 2010 and the rate base increase and new regional editions further demonstrate its commitment to continued investment. The global edition of Bloomberg Businessweek posted a 16% increase in advertising pages year-over-year in the first half of 2011 (according to the Publishers Information Bureau) and the addition of 37,000 individually paid subscribers in the second half of 2010, which was up 7% versus the prior year (according to the Audit Bureau of Circulation). The magazine has also revitalized local-language editions in Chinese, Thai, Indonesian, Turkish, Arabic, and a new Polish-language edition will launch later this year.

"Bloomberg Businessweek has been consistently growing and we're building on this strong momentum and reader demand to expand our audience in the European and Asian markets," said Bloomberg Businessweek President Paul Bascobert. "We're excited to be able to provide our readers and advertisers with new, regionally- focused products by tapping into Bloomberg's incredibly vast global network of editorial staff. Our ability to raise the rate base is a strong indicator that our investments in the brand are paying off."

The European and Asian editions of Bloomberg Businessweek will feature content from the global edition of the magazine combined with some additional regional reporting from more than 800 Bloomberg reporters in Europe and 500 in Asia.

 

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