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Posts Tagged ‘Andrew Rashbass’

Stuart Karle to Leave Reuters

Thomson ReutersStuart Karle, Reuters’ chief operating officer, is leaving at the end of the year, and his role will be eliminated. The New York Observer reports that the move was announced in memo from Reuters’ CEO Andrew Rashbass:

Stuart Karle has played an important role in creating the organisation we are today. However, my being here, the strong GM team that Stuart put in place, much tighter coordination with other business units, and finance, HR and legal being well covered, mean there is no longer a role for a chief operating officer and Stuart will be leaving at the end of the year.

Karle came to Reuters in 2011. He previously worked as general counsel for The Wall Street Journal, a role he held for 16 years.

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The Economist is 1.5 Million Strong

For the first time, The Economist has passed the 1.5 million circulation mark. The cause? An increase in digital subscribers.

The magazine achieved print circulation of 1,487,010 in the latest ABC period (ABC UK/US July-December 2011), combined with a digital-only paid circulation of more than 100,000 in December 2011.

Andrew Rashbass, CEO of The Economist Group, said:

“It took us 160 years to reach one million circulation, but only seven years to reach one and a half million. We now expect to reach two million within five years, fueled by rapid growth in digital circulation. By then we expect to have more digital than print readers.

Although our print circulation continues to rise, at some point in the near future it will go down as more and more of our customers choose to read us on a tablet or e-reader. We’re relaxed about that because we are discovering great opportunities in digital having already reached a digital-only circulation of more than 100,000. Over 75% of these readers are new to us and 12% had previously given up their print subscription. We are seeing that our digital readers are finding new times to read and immerse themselves in a truly lean-back reading experience.”

At least they’re relaxed about this whole digital transformation.

Is someone projecting the demise of print, though?

Economist Group Has A Good Year

economist.pngAs other media companies struggle to survive, at least one seems to be doing very well: the Economist Group.

Last week, The Atlantic compared The Economist to Time and Newsweek, pointing out that the Economist had seen “advertising revenues increase last year by double digits — a remarkable 25 percent,” while the other two American newsweeklies had faltered.

Now comes more good news from The Economist Group, which publishes the magazine as well as titles like CFO and the Washington, D.C. pub Roll Call. According to a release put out by the company today, the group’s profit is up 26 percent (to almost $92 million ) and revenue is up 17 percent (to $513 million) for the fiscal year ending on March 31. What’s more, The Economist‘s worldwide circulation is up 6.4 percent to 1.39 million.

What could be behind such success in an age of dying print media?

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