Competitors of the South Africa-based upmarket magazine, Forbes Africa, will probably spend sleepless nights about the rise of its success, and probably start to make plans as to how best to counter this fast-growing media outlet.
Despite the unavoidable death of print media predicted by the so-called media analysts, the monthly publication’s circulation has soared in the first quarter of 2013, reaching its highest peak of an average of 21 471 copies against all odds, according to the latest statistics released by the African Bureau of Circulations of South Africa (ABC).
ABC said Forbes Africa circulation grew by 22.5% from the previous quarter, from an average of 17 538 copies circulated. Year-on-year, the magazine’s overall grew by 54%. Forbes Africa, which went digital in March this year, was only born on October 2011.
The magazine managing-editor is said to be in the seventh heaven about the remarkable achievement of the magazine. “I am thrilled. This is the realisation of a dream for us at Forbes Africa,” an elated Chris Bishop said in a statement. “We have worked hard for nearly two years in the belief that Africa needs a high-quality business magazine and this proves it is so.
Bishop thanked readers from Nigeria, Ghana and Kenya for their unconditional support of the magazine. “We will be working even harder to make sure we give our readers the best business magazine on the continent,” he said.
Forbes Africa GM Davlynne Lidbetter also had something to say about this ‘miracle’. “Our growing circulation numbers are a testament to the demand for a publication like Forbes Africa,” Lidbetter said.
“We went digital in March and will be rolling out a distribution strategy to reach all readers, across both print and digital platforms.”