Innovative move to 'Freemium' Publication to Deliver Expanded Audience and increased Value to Advertisers
NEW YORK, NY - April 1, 2015 - Ultimate insider city guide Time Out New York announced today that it will be launching its magazine as a free weekly publication beginning this Spring, with distribution on Wednesdays at major commuter hubs, newsstands and other central points throughout the city.
Based on this new distribution model, the Time Out New York magazine weekly circulation is expected to more than double to 305,000, supported at launch with an integrated outdoor and digital brand campaign. This expanded circulation will give advertisers increased opportunities to connect with a much broader audience in the magazine and through integrations with the brand's global digital, mobile and event platform.
The New York rollout is predicated on the highly successful free premium - or "freemium" - launch of Time Out London magazine in 2012. Within the first year, the London magazine added new prestigious advertising partners, including Nike, Virgin Atlantic and Samsung and increased revenues by more than 80 percent. Two years later and the magazine has maintained impressive revenue growth, with a monthly readership of 1.1 million, making it the largest free weekly magazine in the UK capital.
"Taking the magazine free is the next chapter in our audience expansion which last year increased by over 50 percent," said Justin Etheridge, Executive Vice President, Time Out North America. "We will dramatically increase our reach, create new integrated advertising opportunities and better complement our expanding digital audience in the US." He added: "The only change to the freemium edition of Time Out New York magazine is the price; the quality of print and the informative and entertaining editorial coverage of the city's highlights remain unchanged."
Trained distributors will hand out copies of the New York magazine each Wednesday directly to readers. Time Out New York tested this distribution model in Fall 2014 with highly effective results including a 93 percent pick-up rate. For additional convenience, the magazine will also be available in outlets around the city such as Barnes and Nobles stores and Madison Square Garden. Current subscribers will be able to keep their subscriptions for a nominal charge to cover the cost of postage.
"We see this move in New York as an integral part of our continued investment in the Time Out brand," said Time Out Group CEO Tim Arthur. "In making the magazine a free opportunity, we anticipate the brand recognition will significantly increase amongst our target audience in New York and place us in a strong position for growth in New York, as well as elsewhere in the U.S." He added: "We are certainly looking to build on London's success, where it is the most influential magazine for people discovering the best of their city and has helped drive a significantly increased digital audience."
Complementing the free print edition, the Time Out New York website and mobile apps continue to offer distinctive digital content that both locals and visitors turn to every day for information and inspiration.