Personal Money circulation climbs by 5.3%

PETALING JAYA: While English magazines overall plunged in circulation by 40%, Personal Money, which is published by The Edge, managed to increase its circulation by 5.3% to 14,526 copies for the 12-month period ended June 30, 2009, according to the latest Audit Bureau of Circulation (ABC) Malaysia report released today.

"In a downturn, financial opportunities and risks are abundant and heightened. Readers have looked for ways to minimise their risks and strengthen their position while capitalising on the many investing 'bargains' in markets all over the world," Tan Su-Yin, editor of Personal Money, told The Edge Financial Daily when asked of the increase in demand for the monthly personal finance magazine.

The past year has been a tough one for print overall with average newspaper circulation figures for Peninsular Malaysia dropping 3% to 4.08 million in the 12 months to June 2009. Circulation for newspapers in East Malaysia has likewise fallen 3% from 577,412 to 560,563. Magazines have been the hardest hit with Chinese titles plunging 81% to an average circulation of 35,000 and Malay magazines which dropped 5% to 1.02 million.

"The decline is due to numerous factors including the downturn and competition from other media," said Media Specialist Association council member Tan Sio Chian at a press conference here today.

The ABC Malaysia is a collaboration of advertisers, advertising agencies, media agencies and media owners to verify the authenticity of publishers' claimed circulation figures and ensures that advertising expenditure is made on the basis of accurate audience size information.

Over the past year, all paid English titles in Peninsular Malaysia have dropped in circulation. The New Straits Times (NST) daily was the hardest hit, falling 12% to 120,770. The Edge fell by 7% and The Star dropped by 3%. However, free paper theSun increased its average circulation by 8.4% to 287,935 copies.

Malay dailies in Peninsular Malaysia managed to hold on to their circulation size, growing 0.2% to 832,718. The growth was led by Kosmo! which increased its circulation by 12% to 129,633 and Harian Metro, up by 4% to 338,552. Berita Harian and Utusan Malaysia dropped by 8% and 5% respectively.

Chinese dailies bucked the trend and managed to grow their circulation by 1% to 863,976. This data does not include Kwong Wah Yit Poh as it did not submit its circulation figures this year. Sin Chew Daily grew its circulation by 3% to 396,127 followed by China Press which upped its circulation by 2% to 244,424.

At the presentation of the report today, ABC chairman Datuk Vincent Lee said that its board was preparing to take class action on selected unaudited magazines which charged high advertising rates based on unsubstantiated circulation.

"We have taken legal advice and will initiate action next March. We are giving them a grace period," said Lee. At present, 85% of the magazines published in Malaysia are not audited.