Speccie v Staggers: New Statesman Loses £1.35 a Copy

staggers-loses

Guido often teases the intern-exploiting, chauvinist vanity project that is the New Statesman. Is this constructive criticism warranted? Let us see how the Staggers’ money-making – or more accurately losing – capabilities compare to their great rivals at the Spectator.

The Speccie’s average paid weekly circulation last year was 56,635. Annualised that makes roughly 2,945,000 copies sold. Their last available accounts show a profit of £448,000, no mean feat in the age of the dying dead tree press. A quick calculation tells us that the Speccie makes some 15p profit on each copy sold.

So what about the Staggers? Their average paid circulation last year was, the editor claimed to the Press Gazette, 20,000, though some say the actual number is in the mid-to-high teens. Being generous we can say that around 1,000,000 copies were sold in the last year. Their latest accounts show huge losses of £1,408,000. The New Statesman therefore loses some £1.35 on every copy of the magazine sold. 

Without Mike Danson’s millions, loaned to the Staggers interest free and with no repayment date, or real likelihood of repayment, the Staggers would be no more. It is a money-hemorrhaging left-wing, vanity project…



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GuidoFawkes Quote of the Day

Sajid Javid on when he first met Maggie:

‘I was standing in a group of five or six when she was brought over and introduced to us all. And, no kidding, she just ignored everyone and looked at me and held my hand in both hers, and stared me in the face.

And then she said: “Sajid!” And I said: “Yes.” And she said: “Sajid, you will protect our great island. You will protect our great island!” And I said: “Yes I will.”

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