How The Economist Used Digital Media to Double Their Print Circulation

Is print media dead? Before you start mourning the loss of your weekend newspaper or impulsive airport magazine purchase, you might want to hear what Oscar Grut of The Economist Group has to say about print and online media. In the company’s annual report, they discuss their evolving digital business strategy at length.

While many print media outlets feared the impact of web publishing on circulation rates, The Economist has seen their print circulation grow to almost twice its previous rate in the past 10 years. This may be due to the fact that The Economist has figured out what their readers want, and how to deliver it across all platforms. Grut describes how digital strategy differs from the construction of the weekly magazine, pointing to the fact that “the web offers an interactive, snacking, lean-forward and increasingly, a social and shared experience.” This environment cultivates a sense of community, both with each other and with contributing Economist journalists.

For now, the company’s annual report suggests that the ritual of print – having an immersive, “lean-back” experience – will be a continuing desire of readers. But it will be one that tablets and digital reading devices may be fulfilling more and more.

At our June 26^th social media content strategy panel discussion, hosted by National Geographic, Michael Ma of The Vanguard Group makes the same observation in his description of media platforms as additive, not replaceable:

Watch more videos from Y INTERACT's social media content strategy panel at National Geographic. Featuring Pepper Evans (American Express), Michael Ma (The Vanguard Group) and James Gross (Percolate), and moderated by Dimitra DeFotis (Barrons.com).

And if you’d like to read more, you can find The Economist's Oscar Grut’s thoughts on digital business strategy here.