'WSJ' -- The Glossy!

Jen: The Wall Street Journal unveiled its new glossy mag  to press this morning. The perfect-bound WSJ includes 100 pages dedicated to such stuff as Le Bernadin chef Eric Ripert  and his "olfactory inspirations," stylish airline safety videos, *really* expensive watches, and Top Shop's CEO Sir Philip Green and supermodel Kate Moss' business partnership. WSJ will make its debut Sept. 6 in the U.S.

Let's get to the cover. A woman outfitted in a dress made entirely of Wall Street Journal newspapers. It's a curious choice. The model is certainly stylish and attractive enough and the garment isn't half bad considering its made from newsprint. BUT it conjures up images of bums curled up on park benches using newspapers for cover.

Which brings up the economy. It's seems awfully risky to launch a luxury publication in the midst of this economic downturn and let's face it, newspaper depression. When questioned about the timing of the roll out this morning, executives Micheal Rooney, Robert Thomson, and Tina Gaudoin said postponing the mag's introduction never came up in discussions.

Rooney said that at launch, 51 advertisers were on board and 19 of them were new to the Journal franchise.  Many advertisers signed 2-year contracts. The luxury category is critical to the Journal, said Rooney adding that it's the fastest growing piece of advertising. He stressed that WSJ was somewhat protected from the downturn stateside since the magazine is global. "They get who we are," Rooney, the Journal's chief revenue officer said luxury advertisers.

Meanwhile over at the Journal, ad lineage is declining. John Janedis of Wachovia points out that July ad page counts were down in the mid-single digits. That  includes an extra publishing day compared to the same month last year.  As of mid-August, total lineage declined in the high-single digits, Janedis wrote in a research note.

Maybe, as Rooney suggested, advertisers will be more attracted to glossy pages.

Below are some images from the new issue of WSJ, the fortuitous timing of Sarah Palin's exercise routine. The mag will transition to a monthly by mid-2009.

 

 

 

Comments

[Stewart Weiner]

Not so fast on the fact that downtimes can't sustain luxury magazines. Henry Luce founded Fortune in the early days of The Great Depression. And my own magazine is thriving in a dull economy here on the California desert. Well, OK, thriving is a bit of a stretch. But in downtimes, people with money still spend money. And so the WSJ gamble may pay off.

[Jen]

I hope it succeeds. But I have to point out the recession factor. Consumers are pulling back on spending -- including luxury spending.

[anon]

Amazing. For the first time, I have heard a tree falling in the forest. Fitz & Jen, good night shift opportunities are still available at your local convenience store chain. Go for it.