Worth Magazine Costs $20, Unless You Can Afford It
The hook is that you won't have to pay that if you are rich. Sandow Media will create two versions of the magazine. As Ad Age reports, a smaller version of the magazine with better paper, more photos and a classy matte finish will go out for free in a sealed envelope to 110,000 people with a minimum net worth of $2 million who live in one of the 11 major markets. The individuals were chosen using research data and address exclusivity. Everyone else can buy theirs on the newsstand for the $20 cover price, a price which puts it in the top niche at the newsstand flanked perhaps by a few obscure European fashion magazines and chic design journals.
Will this strategy prove Worth's value to advertisers? The selling point is obvious, your ad will land on the doorstep of some of the richest people in the country. Worth is working with Paladin Registry, an information-services company, to make sure that the investment companies that advertise are top performers and a custom advertorial section is planned. It remains to be seen whether or not the Worth name is enough to inspire trust and deliver those advertisers a good response. The rich are being pitched constantly by a wide variety of companies and the biggest fish are often the most difficult to land.
After the launch of the May issue, Worth won't come out again until the October/November issue, which will give the magazine a chance to fine-tune their pitch. It will then be bimonthly and an expansion to more markets is planned. The Worth website, which will relaunch in May, will offer selected content to subscribers with a password.