03 Mar Start The Presses! Newsweek Returns To Print
After calling print the “p-word,” Etienne Uzac, 30, and Johnathan Davis, 31, founders of IBT Media, plan to reintroduce a print version of Newsweek, the venerable news magazine starting this Friday, according to today’s New York Times. With the luxury price of $7.99 a copy, the duo expect the new print version of the magazine to sell 70,000 copies.
“You would pay only if you don’t want to read anything on a backlit screen,” Mr. Uzac said. “It is a luxury product.”
The digital mavens did the math and believe that they can manufacture a print copy for significantly less than the cover price. Plus they believe the print magazine will increase exposure for the title and add prestige.
Don’t count these two upstarts out. Their company grew revenue from about $2 million in 2010 to about $21 million last year. They are no dummies.
And what they are doing may be a model for newspapers in the future. Charging a luxury price for a luxury product delivered right to your front door?
It sounds like a potentially solid business plan to me.