City AM Set To Distribute 100,000 Copies Per Day

Financial freesheet City AM plans to raise its readership further by giving away 100,000 copies each day, a much higher distribution than paid-for sales at the Financial Times, which sold just over 92,500 copies in Britain and Ireland last month.

City AM‘s advertising is exceeding expectations and the paper will break even in its second year of operation, which starts in September, according to former Metro International executives Jens Torpe and Lawson Muncaster, who launched the paper last year (see City AM Expands Within Weeks Of Launch).

The freesheet intends to increase its distribution slowly, mainly through companies distributing copies to staff in their offices, so that readership remains targeted.

Recent NRS audits showed the FT was the worst hit paper in the Quality daily sector, shedding 15.7% of its readership year on year for the six-month period from November 2005 to April 2006 (see NRS National Newspaper Round-Up: April 2006).

City AM‘s heads also said the launch of a free afternoon newspaper should not affect the financial freesheet’s distribution, but acknowledged it could affect advertising rates.

In May, Network Rail began seeking bids for a publisher to produce and distribute a free afternoon paper at ten of London’s busiest stations (see Bids Wanted For New Commuter Newspaper).

City AM: 020 7015 1200 www.cityam.co.uk

Financial Times: 0207 873 3000 www.ft.com