January 22nd, 2013

No Prospects: Lefty Mag’s Three-Year Plan Blows £500,000

Back in 2009 the publisher of lefty snooze-fest vanity project Prospect had high hopes for his monthly magazine. David Hanger boasted of a new £500,000 investment from venture capitalists and hedge fund managers that he pledged would double Prospect’s circulation, saying he “hoped that by the end of the three years, the magazine’s circulation would almost double from its current total of about 27,000 to more than 50,000″. Now those three years are well and truly up, Guido has decided to see if the investment came good.

Prospect’s ABC figures for March 2009 put their net total circulation at 27,623. The magazine’s all-important goal of 50,000 has turned out to be a distant pipe dream. The latest available figures put its circulation at just 32,115 three years on, a rise of just 16%. The real cause for concern is the the UK paid-for number. In 2009 they sold 18,122 copies every six months, but last year that number fell to just 16,555. Not even the box office hire James Macintyre could turn things around as their Political Editor. And as for David Hanger? He has seemingly been demoted from publisher to “publishing consultant”. Half-a-million pounds down the drain and nothing to show for it. Those venture capitalists and hedge fund managers really should have known better…


  1. 1
  2. 2
    Grimy Miner says:

    Dead tree press is er………….. Dead?


  3. 3
    Herman van Rumboy says:

    It’s only other people’s money. We always run out of it.


  4. 5

    No Prospect then ?


  5. 6
    Grimy Miner says:

    BTW, … first :)


  6. 8
    Anonymous says:

    can we get your registered company number and details of your investors or is it all offshore so no one can know…..


  7. 9
    Swivel-eyed lefty says:

    Pissing money up the wall. It’s what we do.


  8. 10
    SpAd says:

    As sales of the Guardian and New Statesman demonstrate, the number of people in the UK willing to pay good money to read dreary, predictable, finger-wagging, one-note lefty polemic is encouragingly small.


  9. 12
    Ah! Monika 2013 +1 says:

    Could somebody please tweet Abbott and ask her for her definition of pornography. We don’t want to ban the wrong stuff.


  10. 13
    alexsandr says:

    why so many not paid for? WTF?


  11. 18
    Dave Camera on says:

    Is the red light on yet?


  12. 19
    Owen Jones says:

    Let the tanking of the FTSE for today start.

    FTSE 100 6176.12

    -4.86 -0.08%


  13. 22
    David Cameron says:

    I hope the 5000 army redundancies announced today sends the correct message to anybody who doubts my cast iron commitment to fighting global terrorism and protecting the Falklands.


    • 26
      confused Pleb says:

      Global Terrorism – is that GOOD AL-CIAda in Syria and Libya, or BAD Al-CIAda in Algeria, Bradford and Tora Bora caves?


      • 36
        David Cameron says:

        Look, please, no difficult questions, or I’ll have to knit my brow, put my head to one side while nodding, and then make authoritative hand gestures that I’ve practised with my PR people.


    • 58
      Vive la revolution says:

      Lots of highly trained and disciplined ex-soldiers with nothing better to do…… can be dangerous…..


  14. 23
    UKIP.i.ain't says:

    Cameron has to borrow to pay overseas aid and yet he can’t afford the army. It is disgusting.


  15. 24
    jacky Treehorn says:

    Why would businesmen invest in a lefty idea? they always lose money.


    • 66
      NE Frontiersman says:

      Never seemed outstandingy Lefty, just dull, dull, dull; a place where B-list journos could print the more tired pieces the big boys would not take.


      • 67
        NE Frontiersman says:

        Or do I mean Standpoint? Aforesaid dull, B-list observations still apply. There’s more journalism on the market than people want to pay for.


  16. 28
    Tachybaptus says:

    Anything that uses a c-t ligature in its logo is bound to be a ponce-fest.


  17. 30
    Just wondrin says:

    Southwark. ‘Guido might just have to lunch in those parts tomorrow.’

    Did he go?


  18. 33
    It's Huhne time says:

    10 … 9 … 8 ….


  19. 41

    Wealth Warning

    The value of investments can fall as well as rise and you may not get back the full value of your original investment.


    • 47
      The association of British insurers says:

      Always remember ‘Your home is at risk if you set fire to it’


    • 61
      Hippy Pottermus says:

      … especially as the *anchors get their cut up front, which never ever seems to be made up again no matter how long the contract runs.


  20. 42
    Martin Day says:

    proof that there’s at least 18122 shitty arsed little arse wipes like Owen Jones who have never had a proper job.


  21. 44
    tube_thumper says:

    boring. who cares

    more importantly huhne the hune is in court right now


  22. 45

    So Mitchell had a stamp with Bollocks on it?

    Well, I had one of those 30 years ago and used it where appropriate.


  23. 52
    Edward. says:

    It’s bad enough trawling through the Guardian and other SWP sh**e, prospect – a mag too far.


  24. 53
    Anonymous says:

    Maybe, in the interest of balance, you could post the sales figures of Standpoint, the right wing equivalent of Prospect?


  25. 59
  26. 62
    CHRIST ON A BIKE! says:

    Who’d be stupid enough to invest in a left-wing news publication?

    The dead-trees are in the shit anyway, never mind the left-wing bits, that are really in the shit.

    Socialists are complete tight-arses with their own money, they never spend a penny on anything they can get online for free.
    If they can’t cadge of someone else, they won’t bother.


  27. 64
    keredybretsa says:

    An expensive gamble that didn’t make the performance hitlists.


  28. 65
    its all bollox says:

    ‘Those venture capitalists and hedge fund managers really should have known better…’ you say

    do the negligence lawyers re the idiots running pension funds who financed the hedgists?

    good lolly here methinks!


  29. 68
    Nivea face cream says:

    I prospect for gold. Those venture capitalists should have come with me. I just bought a country.


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