Independent Prepares To Launch Tabloid Trial Version
The Independent is believed to be considering plans to launch a tabloid version of the newspaper sometime later this month, in an attempt to increase circulation.
Reports suggest that the new version of the title will be aimed at commuters in the London metropolitan area looking for an upmarket read in a smaller format.
The publisher is understood to be presenting the idea to media agencies next week and the trial-sized title could go on sale later this month, alongside the existing broadsheet format. It is expected to have an initial print run of around 60,000 within the M25 area and may be priced at 30p, which is half the cost of the existing title.
Reports also suggest that the paper’s parent company, Independent News & Media, has signed a distribution deal with WH Smith outlets and mainline railway stations, allowing the new version of the title to be sold from Metro-style bins.
Nik Vyas, associated director of press at ZenithOptimedia, said: “If it does work it will be fantastic from our point of view because the whole quality sector needs rejuvenating, but its going to be very expensive to turn things around.”
He added: “The key here is investment. Do they have enough money to support the product long-term through marketing and improvements in editorial depth and quality? If they do – fantastic, if not it will be too easy to dismiss it as a gimmick, which doesn’t address the central problems.”
The tabloid trial could be seen as a last ditch attempt to revive the waning fortunes of The Independent, which saw circulation decline by 2.1% year on year to 221,193, according to the latest ABC results for the six months to August.
Analysis of the monthly ABCs over a longer ten year period reveals declines for the majority of national daily broadsheet newspapers. However, The Independent appears to have suffered the most, with a sharp 33.3% decline in circulation since August 1993. This compares to a 2.8% drop for The Guardian and a 9.6% dip for the Daily Telegraph. The Times has seen circulation increase by a dramatic 77.8% over the same period.
Figures complied by Nielsen Media Research for NewsLine show that The Independent saw advertising revenue remain virtually static year on year at just over £41 million in the twelve months to August 2003. This places it significantly behind The Guardian, which attracted £57 million worth of ad revenue during the same period.
Independent News & Media, owner of The Independent, The Independent On Sunday and Belfast Telegraph, recently issued an upbeat trading statement in which it claimed that circulation revenues continue to grow in all markets and that advertising visibility is improving (see INM Reports Strong Start To Year).
Independent: 020 7005 2000 www.independent.co.uk
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