Economist Profits Up Thanks To Digital
The Independent reports that the Economist Group’s profits are up 8.7% against last year. With interest peaking about newspaper liquidation, the Economist Group is proving that digital reinvention is a definite possibility. The Economist now boasts 123,000 paying subscribers and an all-time-high 1.624 million print circulation. Andrew Rashbass, CEO, said, “there is a huge opportunity for us and other media companies in smarting up, not dumbing down.” Rashbass claims that users are actually reading the Economist from smartphones and tablets, not just stopping by momentarily or instantly sharing and bouncing. The Economist Group’s financials indicate that print isn’t dead—it’s just that certain types of print are now untenable.
