Auto Trader magazine to close due to online success?
Jul 11 2012
Auto Trader boss John King has revealed the iconic Auto Trader magazine is likely to cease production next year due to falling circulations.
King, CEO of Trader Media Group which owns Auto Trader, said thee decision could be made within months. “We won’t make the decision until later this year, but we’re looking at around 12 to 18 months from now.”
Trader Media Group operating profits grew last year but the cost of producing the magazine is rising. British used car buyers are instead moving online in ever-greater numbers.
The Auto Trader magazine still sells 87,000 copies a week, but advertising revenue has fallen in recognition of its declining importance: from £44.1m to £27.8m.
In contrast, visitors to Auto Trader online have risen 11% – and the number of users accessing the site via a mobile device alone has risen from 1.1m to 2.3m in just a year.
Overall Trader Media Group revenues grew to £257.2m as a result.
Even so, the loss of the Auto Trader magazine is likely to sadden car enthusiasts who have poured over the tiny black and white square picture ads over the years.
Seasoned car traders used to get up extra-early on Auto Trader publication day to snare the latest bargains: the move online, of course, means they can do this without leaving their house…
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