As the Audited Bureau of Circulation released its January – June 2015 numbers, The Economist shows that its digital circulation grew by 22% worldwide over the last 6 months and 69% over the last year. Total digital circulation now stands at a record 282,829 copies. Digital circulation in the UK increased the most over the last year at 226%. Strong digital growth was also found in Asia at 76%, followed by strong growth in Middle East / Africa, Europe, North America and Latin America. In the last 6 months, the UK has led digital growth at 42% followed closely by Middle East / Africa at 37%.
In addition to rising digital circulation, The Economist has succeeded in reducing the cost of acquisition through digital channels by 50% and gross profit from circulation increasing by 13%. At the same time retention rates are improving with the most recent figures showing an increase of 5% year-on-year. Much of this success has been as a result of The Economist’s marketing, which has been recognised recently with multiple awards across the industry.
Michael Brunt, Chief Marketing Officer and Managing Director of circulation at The Economist, said:
“Our latest circulation numbers are in line with what we have seen over the last few years – a steady migration to digital. Whilst the majority of our new customers still choose a subscription that provides both print and digital formats, the number choosing digital-only circulation has grown tremendously. This is making our circulation increasingly profitable, as our revenues are increasing and at the same time, our costs are decreasing. We've enjoyed the benefits of this trend for some time and it’s a great position to be in.”