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…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Alan Sugar on Jeremy Corbyn:

“It’s clear you alluded to students refunds to get votes from young impressionable people. You are a cheat and should resign.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Exclusive: New Government Appointments in Full Exclusive: New Government Appointments in Full
Corbyn Deletes Another Wrong Tweet Corbyn Deletes Another Wrong Tweet
Everything is Awesome for Manufacturing Everything is Awesome for Manufacturing
HMT Predictions Way Off HMT Predictions Way Off
#DespiteBrexit: A Classic of the Genre #DespiteBrexit: A Classic of the Genre
Hat-Trick of Brexit Good News Hat-Trick of Brexit Good News
Guido’s Student Debt Story on Standard Front Page Guido’s Student Debt Story on Standard Front Page
Watch: Shadow Minister Makes Student Debt Promise Watch: Shadow Minister Makes Student Debt Promise
IPSO Throws Out Baroness Scotland Complaints IPSO Throws Out Baroness Scotland Complaints
100% Inheritance Tax: Stupid or Evil? 100% Inheritance Tax: Stupid or Evil?
Paul Mason’s Play in 60 Seconds Paul Mason’s Play in 60 Seconds
Sunday Shows Sunday Shows
City Confident as Hiring Rates Rocket City Confident as Hiring Rates Rocket
Watch: Best Maiden Speech of 2017 Intake Watch: Best Maiden Speech of 2017 Intake
Child Protection Investigation ‘Stalled to Help Labour’ Child Protection Investigation ‘Stalled to Help Labour’
Davis Accepts Donations from Top Blairite and TV Remainer Davis Accepts Donations from Top Blairite and TV Remainer
BBC #NotOnTheList Stars Paid Via Production Companies BBC #NotOnTheList Stars Paid Via Production Companies
Pants-Wearing Councillor Boasted He Had “Vaz in My Right Pocket” Pants-Wearing Councillor Boasted He Had “Vaz in My Right Pocket”
Champion: ‘Not Possible’ to Keep Student Debt Promise Champion: ‘Not Possible’ to Keep Student Debt Promise
BBC Rich List Revealed: Salaries In Full BBC Rich List Revealed: Salaries In Full