IPC unveils budget to fund expansion drive

IPC has set up a dedicated fund to invest in relaunching titles and aims to launch six to seven titles a year in an aggressive expansion programme, Mike Matthew, the magazine publisher’s chief executive, has confirmed.

IPC has set up a dedicated fund to invest in relaunching titles and

aims to launch six to seven titles a year in an aggressive expansion

programme, Mike Matthew, the magazine publisher’s chief executive, has

confirmed.



The announcement follows a successful bond tour in Europe to finance the

management buyout of IPC from Reed Elsevier, backed by venture

capitalist, CinVen.



Matthew said: ’In the past, we’ve never had a formal relaunch

budget.



We are going to be sharper and more focussed on titles which are perhaps

falling behind the pace.’



He also confirmed that IPC’s ailing women’s title, Options, which

suffered 13 per cent decline in its year-on-year circulation for June to

December 1997, is to be revamped.



It is understood that the title will pitch itself at twenty-something

single women who are likely to have a large disposable income. Woman’s

Journal is being overhauled by the editor, Marcelle D’Argy Smith, Eva

has just become a teen magazine and the music title, NME, will unveil

its new image next week.



Matthew added: ’The thrust is to step up the rate of launch. We have

averaged five launches a year, and I would like to be hitting six or

seven. We plan another three or four this year.’ These will include the

launch of a monthly women’s title (Campaign, 20 February) and an

FHM-style men’s magazine (Campaign, 6 February).



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