Financial Times Launches First Glossy Property Title
The Financial Times has announced the launch of its first property magazine, In Residence, to be published quarterly from 25 September.
The glossy title will be distributed with the FT‘s Saturday magazine and will be published again on Wednesday as a stand alone supplement. The 32-page title promises thought-provoking coverage of a wide range of issues related to property, offering an intelligent and informative look at how people live today.
Future editions of the title will concentrate on complex property issues, including the rise of elite property developers and the effect on the market of Britain’s unique council housing sector. More lightweight features are also promised, including an investigative report on the effect of television property shows.
The move makes the FT the first national newspaper in Britain to release a glossy property supplement. Commenting on the title John Lloyd, editor of the paper’s Saturday magazine, said: “We relish the challenge of looking at property and home-making in all its varieties. In Residence will be about how people live, globally. There’s nothing else like it available.”
The FT is considering a number of changes to its UK edition as part of a concerted effort to revive its fortunes and improve falling domestic sales. Features editor Andrew Davis is understood to be in charge of the changes, and has been handed the full-time task of looking at ways to improve the paper. He will work with the commercial and design departments on ideas for a new look (see Financial Times Ponders New Look To Boost Sales).
The FT has seen its circulation drop in recent months, losing 6.9% year on year in the six months to June 2004. The newspaper now commands a circulation of 474,000 dipping below the crucial half million mark in the latest round of ABC results.
Earlier this year the FT announced the promotion of Dominique Moseley to the newly created position of head of magazine publishing. The new role saw Moseley charged with extending the newspaper’s magazines and supplements, building on the success of the recently launched How to Spend It magazine (see Financial Times Appoints New Head Of Magazine Publishing).
Financial Times: 020 873 3000 www.ft.com
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