The Guardian carries a story reporting that former UK Deputy Prime Minister and owner of Haymarket Publishing Group, Lord Heseltine, is urging the magazine industry to provide financial support for local newsagents. The story says, in part:
The former deputy prime minister believes that the industry should raise an “administrative levy” to help independent retailers sell more of their magazines.
Although the details of such a fund are still to be worked out, Ian Locks, chief executive of the Periodical Publishers’ Association, said Lord Heseltine’s suggestion had “a lot of support”.
Newsagents in Australia are challenged in carrying magazines which their competitors choose not to carry. We know from recent cash-flow research that around 65% of titles are cash-flow negative. Any support from publishers to underpin the viability of such range in retail would encourage newsagents who might otherwise be looking to reduce range. It will be interesting to see if Lord Heseltine’s proposal gains traction in the UK.
about