Music Magazine falling readership figures

ABC, a circulation reporting firm shows that readers are getting their music news elsewhere such as the internet. The magazine "Q" lost 18,000 readers over the last six months. "Uncut" lost 4,000 readers, "NME" magazine lost 8000 readers, and "Kerrang" lost 17,000 readers. A free music magazine "The Fly" produced by the Barfly chain's readership figures increased by at least 2000 readers. It is obvious from the statistics shown above that readers do not want to pay for their music information, and as most of these magazines are in the more expensive £3-£5 bracket. 

Below are the circulation figures for January to June 2008(6 months prior)

Classic Rock: 66,632 (67,399)

Kerrang: 60,294 (76,937)

Metal Hammer: 48,540 (45,809)

Mixmag: 34,073 (35,817)

Mojo: 106,367 (106,218)

NME: 56,284 (64,033)

Q: 113,174 (131,330)

Rock Sound: 22,527 (23,021)

Terrorizer: no figures (14,952)

The Fly: 105,212 (103,051)

Uncut: 86,925 (91,028)

Word: 33,775 (33,217)

These statistics show that free magazines are more popular than the more expensive magazines. Because of this I have decided to try and make my magazine as cheap as possible. 

Classic Fm magazine is priced at £4.25 which is soon to rise to £4.5o for the March 2009 issue.  However, this magazine comes with a free CD, and so is not too much over priced. If I decide to include a free CD, this will make my magazine more expensive. My target audience is teenagers and young adults, who are music students and/or music lovers. Because I am targeting this audience, who usually do not have much money, I am going to try and make my magazine affordable and good value for money.