Is Newsweek hoping for a self-fulfilling prophecy by suggesting magazine need to go upmarket? See this article.
Newsweek’s 5-year plan, expected to go live in May, will see it abandon the mass market in favour of a select audience earning an average annual salary of $100,000. This will mean cutting circulation from the 2.6m it currently promises advertisers to just 1.5m by January next year. However, the architects of the plan believe that by introducing higher subscription prices and readjusting advertising rates, they will more than make up for any losses.
