The National Magazine Company (NatMags) has slashed the price of its women’s monthly magazine Company to &£1.50, to match the price of Condé Nast’s Glamour.
Company is normally priced at &£2.60, but will now compete head on with Condé Nast’s hand-bag sized Glamour, which posted a debut circulation of 451,486 according to the January to June 2001 Audit Bureau of Circulations (ABCs) figures (MW July 19).
Glamour launched in the UK in March, with a cover price of &£1.50. Since then NatMags has launched Cosmo Girl, priced at &£1.49, and has extended its pricing strategy to Company to boost the magazine’s sales.
NatMags deputy managing director Duncan Edwards says: “Company magazine has been a phenomenal success since its launch 23 years ago, capturing the elusive market of women in their early-20s.”
“NatMags is facing intense competition from new entrants to the market, which have chosen to come in at a low price. To protect its position it has no option but to drop the price. NatMags is at the centre of a price war.”
The November issue of Company went on sale on Monday at the reduced price.
It has a circulation figure of 223,121, down 14.4 per cent period on period and 3.2 per cent year on year, according to the latest figures from the ABCs (January to June 2001).
Company publishing director Justine Southall says: “The cover price change will place us in a unique position, a full-size women’s glossy but priced at &£1.50. We are confident that this move will increase sales.”