Thursday, November 29, 2007
WSJ's New Glossy, Pursuits, to Go Global
Along with U.S. Debut Next September, Distribution Added in Europe, Asia
By Nat Ives
NEW YORK (AdAge.com) -- The Wall Street Journal has decided to expand the scope of Pursuits, the glossy magazine it plans to introduce next September, by adding distribution in Europe and Asia. In addition to the 800,000 copies planned for Journal subscribers in the United States, Pursuits is expected to be inserted in about 80,000 copies each of the Europe and Asia editions, for a total circulation of 960,000.
The Journal already publishes glossies in Europe and Asia, but they'll be replaced by the Pursuits brand.
"Because of the robust advertiser response, we have made the decision to launch Pursuits as a global publication that will appear in all editions of the Journal worldwide," the company told employees in a memo from L. Gordon Crovitz, the Journal's publisher, and Michael F. Rooney, chief revenue officer at the paper's parent, Dow Jones & Co.
In an interview, Mr. Rooney seemed unsure why Pursuits was originally conceived for just the U.S. "We just started to think about it domestically to begin with," he said. "We discussed it in the hallways, talking about clients here domestically."
Single glossy brand
The Journal already publishes a glossy in Europe called Style Journal and another in Asia called Weekend, but Mr. Rooney said plans call for Pursuits to replace them, establishing a single glossy brand for the Journal around the world.
"So many of our advertisers are global," he said. "For us to use this franchise wherever they sell product is a unique opportunity for us."
News Corp. is set to complete its takeover of Dow Jones, an acquisition that was avidly pursued by its CEO, Rupert Murdoch, earlier this year. Mr. Murdoch said one of his plans to improve the company was to introduce a glossy magazine to the Journal.