Monocle bucks the trend and enters print: ‘How would you do a newspaper if you could start from scratch?’
Monthly magazine Monocle is set to release a weekly newspaper, a move it said represents its "confidence in print" as well as the need for "continuous product innovation", at a time when there's diminishing positivity for newspapers.
Monocle releases summer print edition
Monocle - The Summer Weekly looks to hone in on audiences with its arts, design, lifestyle and global affairs coverage, delivered in the 48-page Berliner format once favoured by the Guardian.
To fund the drive, the company will only offer full-page or double spread ads to premium brands. Advertisers cross the four issues include Rolex, Chanel, Louis Vuitton, Gucci, Peninsula, Pictet, Technogym and Beats.
Looking to touch down with consumers going on, or returning from, holiday, the issue goes on sale every Thursday in August, and will available in airports, resorts and city hubs with high footfall.
Monocle - The Summer Weekly is priced at £5 an issue, and will see a run of 70,000 units per issue.
It's a risky move in an industry plagued with print circulation losses. Last year Trinity Mirror launched a daily newspaper, the New Day, which it closed after two months after it failed to shift enough copies or attract enough advertisers to offset the cost of running it.
But elsewhere, niche anti-Brexit title the New European has maintained a stable readership one year on at the pricey cost of £2 - the paper lauded as a symbol for the health of print.
Tyler Brûlé, editor in chief and chairman of Monocle, said while everyone is very down about newspapers, there is something "very exciting about this form".
"You don’t mind if it gets a bit of suncream on it, or if it gets waterlogged. It can follow you around for the day – or for the week. We thought that August was the perfect time to let people dive into this again," he said.
Andrew Tuck, editor of Monocle, added: “We asked ourselves a question: how would you do a newspaper if you could start from scratch? Well designed and carefully curated, Monocle – The Summer Weekly features a good dose of opinion from the editors at Monocle, strong reporting and our usual global perspective. We are producing a smart, enjoyable read for August.”
Monocle launched its print magazine in 2007. According to the latest ABCs, Monocle magazine has a monthly circulation of 81,504 across digital and print, a figure that grew 7% year-on-year.
The brand has since grown to include Monocle 24, a 24-hour online radio station, as well as retail shops in six cities around the world and cafes in London and Tokyo.
Japanese newspaper publisher Nikkei invested an undisclosed sum in the company in 2014, valuing the business at $115m.