If the opening of a private jet dealership in London’s Knightsbridge last month isn’t enough of an indicator of demand at the very top of the consumer market, Jim Kerwin, founder and chairman of The Private Journey, says his magazine is going from strength to strength in terms of both distribution and paying advertisers.
Aimed at owners of private aircraft, the magazine is distributed in 190 private jet terminals in North America with a readership of about 100,000 HNW individuals worth an average of $89m each. These include business executives, royalty, politicians, entrepreneurs, sportsmen and entertainers.
According to the magazine’s media kit, an average reader spends about $1.7m a year on fine art, $98,000 on experiential travel, $117,000 on fashion and accessories and $29,000 on wine and spirits. The average reader tends to be about 57 years old, with a 70:30 split of men to women.
The quarterly publication launched in October 2010 after Kerwin saw media spend of luxury brands through his advertising agency business was on the up. A partnership with Roaring Thunder Media, which supplies outdoor advertising within private jet terminals, makes for a logical business model.
But Kerwin claims that to maintain the luxury feel of the magazine, he turned several advertisers away for the most recent issue because they were not high end enough. “It’s important to keep the environment right and keep the integrity of the magazine very pure,” he explains.