David Bradley, the owner of Atlantic Media, told The Observer earlier this spring that The Atlantic and its website were losing just under a million dollars a year.
“That is the farthest reach of my imagination,” said Mr. Bradley. “I’ve never seen growth like that. It’s in the teeth of the recession.”
In the first half of the year, The Atlantic grew ad pages by 21.75 perecent, and the magazine’s website and wire increased online ad revenue by 155 percent, according to a release from the company yesterday.
The magazine’s events divison is also poised to bring in 20 percent more revenue in the first half of 2010 than it did in the same time last year.
Washington, DC and New York, NY (May 24, 2010) – Demonstrating strong advertiser demand for in-depth, intelligent content, The Atlantic reports significant and sustained growth in the first half of 2010. Through the June issue, The Atlantic posted a 21.75% increase in ad pages this year. Meanwhile, TheAtlantic.com and sister site TheAtlanticWire.com project a 155% increase in online ad revenue for the first six months of 2010. Atlantic LIVE, The Atlantic’s events division, also projects a 20% increase in revenue for the first half of 2010 compared to the first half of 2009.
Jay Lauf, vp and publisher, The Atlantic and TheAtlantic.com, says that the early indicators are promising for the remainder of 2010. “We just closed our annual July/August Ideas Issue, which will set a new revenue record for a single issue of The Atlantic—the previous set by last year’s Ideas Issue. Online continues to see strong projections as well.”
This builds on an upward surge for the brand beginning in the second half of 2009. “The market turned around for us in the second half last year,” adds Lauf. “We posted a 5% year over year increase in print revenue in the second half and a 161% increase in digital ad revenue.”
Introducing a redesign in February, TheAtlantic.com averages 3.5 million monthly unique visitors and 19 million monthly pageviews.