Businessweek getting advertisers on iPad, iPhone

Michael Sebastian of Advertising Age writes about how Bloomberg Businessweek is getting advertising for its iPhone and iPad applications.

Sebastian writes, “Bloomberg Businessweek offers advertisers several ways to appear on its iPad and iPhone app. The cost of a quarterly sponsorship — which includes a full-page ad, a “brought to you by” logo and various banner ads — is $85,000. IPad advertisers are given certain performance metrics on their ads, such as time spent and content downloads. Microsoft Dynamics and Credit Suisse USA are among the brands to sponsor sections. The magazine plans to offer monthly sponsorships starting in the third quarter of this year.

“‘There’s a certain first-mover status for advertisers on the tablet,’ said Hugh Wiley, publisher, Bloomberg Businessweek. The magazine does not bundle print and iPad ads, meaning advertisers who want to appear in both must pay separately. The open rate for a full-page ad in the weekly’s worldwide edition is $161,600.

“Mr. Wiley said Bloomberg Businessweek does not discount its mobile or iPad ads, because there is limited inventory and high demand. ‘IPad is a big revenue driver for us,’ he said. The publication, which in May had more than 225,000 mobile- and tablet-app subscribers, saw first-quarter ad revenue on the app grow 147% from a year earlier.”

Read more here.