As I write this, many readers may well be in the throes of their latest fad, post-Christmas-binge diet. Others will be quite happy with their new shape and not feel the need for these ridiculous diets and anyway fat is fun…. sorry, getting a bit defensive there. Anyhow, this is all quite appropriate in many ways, as readers may notice that this edition is a slightly slimmed-down version of The Treasurer.
The main reason for this is that, in common with many other publishers, there has been a significant reduction in advertising revenue. As a consequence, there are fewer physical pages and we need to keep the page count down to cut our costs.
Advertising budgets seem still to be there and have not been slashed yet, but many advertisers are waiting to see how the land lies before committing. The media sales team, William Saville and Chantal Feduchin-Pate, has been plugging away at our regular contacts, and indeed finding some new clients, but it is a pretty tough market.
The Treasurer is in a relatively strong position as a market leader and we would like to think that if there is any budget to be spent, it would come to us – we have the best treasurers and the best access to treasurers that there is in the UK. Prospects for the next couple of months are not bad.
Every Editorial of mine seems to have a plea, and this one is no exception. If you are speaking to your bankers, advisers or suppliers, do throw in the odd good word about The Treasurer and the Association. Many of them know us already and appreciate our quality and strengths but there is nothing like the horse’s mouth to reinforce the message.
During the coming year we will also be looking for other opportunities to work with our clients to develop features or supplements, so if you have an idea, whether as a supplier or as a reader, do let me know. I am open to most suggestions.
I have read this month’s Spotlight with interest, as the cashflow involved in paying for production, printing and mailing of the magazine well before we receive any advertising revenue means we have to be careful. I am sure I won’t be the only one to pick up some useful tips on working capital management.
MIKE HENIGAN
Managing Editor