It has been less than two years since US-based Business Week ceased publishing an Asian edition, citing the increased internet penetration for eroding circulation and advertising revenue. Now, a group of investors has put together more than HK$2 million to launch Review Asia, a regional monthly magazine operating on an outsourcing business model.
Shortly after it hit newsstands this month with a cover price of HK$45, a European-based newspaper group expressed interest in partnering with the title and its parent company, Harrex Media, Review Asia editor Rex Aguado (below) told Media Eye last week.
Review Asia debuted with 96 pages and was apparently well received by readers. Aguado, who was previously the South China Morning Post's international business news editor, said the magazine's initial print run of 30,000 copies had been almost all snapped up.
To avoid the huge investment of a full-time editorial team, Review Asia has more than 50 contributors covering culture, business and people in the region. Editorial production, such as design and printing, is outsourced.
The only full-time staff are about 10 people based in Hong Kong mainly in sales and marketing.
'We do want to have a local angle on Asian affairs, however, we don't want our magazine to be upmarket or targeting only intellectuals,' said Aguado.
