Fast Company Named to AdWeek's 2008 Hot List
Fast Company magazine 2007 Ad Page/Revenue/Newsstand Growth
Over last two years Fast Company, under new ownership, has taken the lead in reinventing the business category with a mix of cutting edge visuals, award-winning feature writing and "cool" cache. As many business titles struggle with the downward slide in print advertising, Fast Company has been bucking the trend with increasing ad sales, revenue and newsstand sales in 2007. Please see below for specific achievements in each.
Ad Pages/Ad Revenue Growth:
Fast Company is the only contemporary, progressive magazine increasing pages and infusing life in a staid and conservative category. While many business titles struggle with the downward slide in print advertising, Fast Company has been bucking the trend. Ad revenue grew 26.3% in 2007, and ad pages increased 20.6%, according to Publishers Information Bureau. Most notably, Fast Company's October "Masters of Design" issue was up 80.8 percent over 2006.
By comparison, ad revenue for BusinessWeek fell 12.9% last year, while ad pages dropped 18.2%. Ad revenue for Fortune was down 10.5%, and ad pages slid 17.3%.
Fast Company is a "must buy" for advertisers who want to reach the mavericks, game-changers, innovators and thought-leaders in business. Many ad execs say Fast Company looks like a consumer magazine bolstered by advertisers who do not use the business category like Rockport, Dyson and Saturn.
Last year, Fast Company brought in 43 new advertisers ("new" defined as not in Fast Company for at least two years). They were: CDW, HP IPG, HP PSG, Dell, HP ProCurve, All Steel, American Chemistry Council, RIM/Blackberry, CiT, Marriott Courtyard, Pitney Bowes, University of Chicago Graduate School, Dyson, Michigan Economic Development Corp, Principal Financial, Balance Bar, BMW, Hyatt, Kyocera, Citibank, Siemens, BASF, Mercedes-Benz, Rockport, Brother Printers, Woodford Reserve, Dow, Canon, Kensington Computer, Navigon, Target, Lexus, VW, American Express, Bank of America, Toshiba, Alger Funds, Fujitsu, Dow Chemical Co, UPS Stores, Brown Forman, Harley Davidson, Gateway, Northwestern University, Southwest Airlines.
And AT&T and Hewlett-Packard Co., which had both taken a hiatus from the publication, came back to the fold last year.
Fast Company has shown growth in the automotive category, with focus on luxury, when other books showed decreases.
Top 3 Categories in 2007 by Paging (source PIB)
1. Automotive (90.56 pages)
2. Computers/Software/Internet (69.46 pages)
3. Financial (35.56 pages)
Top 3 Growth Categories in 2007 by Paging (source PIB)
1. Automotive (+48% v 2006)
2. Office Machines (+156% v 2006)
3. Travel (+75% v 2006)
According to the most recent Audit Bureau of Circulations (ABC) FAS-FAX report, Fast Company's performance for the six months that ended December 31, 2007 ranks eight in growth of single copy newsstand sales among the 300+ U.S. consumer magazines that claimed rate base for 2007.
Fast Company reported a total paid circulation base of 749,095 and saw its newsstand sales increase 38% over the same period in 2007, to an average of 30,515. This marks the 3rd consecutive reporting period in which Fast Company delivered industry leading half-over-half percentage growth, having posted single copies sales growth of 35% (June 30, 2007) and 37% (December 31, 2006) for the two preceding reporting periods.
Fast Company reported significant gains in two key ABC reporting metrics: Newsstand Sales and Subscriber Action Sold. Percentage-wise, Fast Company has been among the top-10 fastest growing newsstand titles for the last 3 consecutive ABC reporting periods, according to Fas-Fax reports.