Time Out to become a free London magazine
In an attempt to boost readers, Time Out London is to become a free magazine. Cutting its price from £3.25 it hopes to increase circulation from 55,000 to a targeted 300,000 a week.
Time Out will join a group of magazines and newspapers which have already taken similar steps to rejuvenate the industry. To make up for the lost revenue from sales, Time Out will be increasing the amount charged for advertising space.
The transformation of the free magazine also suits the multi-platform business model better, which includes free iPad, iPhone and Android apps.
The announcement comes as sales of paid-for newspapers and magazines fall with readers increasingly looking online for free news, reviews and listings information.
More than half of the 300,000 free copies will be handed out by a team of 200 distributors spread across central London’s underground and mainline rail stations. A significant number will also be available at cultural venues, such as Tate Modern, and in coffee shops, although talks could secure distribution deals.