Cate Doty of the New York Times writes about Doubledown Media, the parent of Trader Monthly and Dealmaker, two business magazines thriving despite Wall Street’s woes because of its high-income readership.
Doty writes, “The company, founded in 2004 and based in Manhattan, is hiring in anticipation of big growth in advertising revenue, and publishing a new magazine next month — The Players Club, which aims to help professional athletes manage their money.
“Although Trader Monthly and a sister publication, Dealmaker, are sold on newsstands for $10 each, free subscriptions are available only to people who can prove that they work in the financial industry, and Mr. Lane says that thousands are turned away; subscriptions for others are $100 a year.
“Trader Monthly readers have an average income of $653,000, according to Doubledown, making them prime targets for advertisers like Hermes, Cessna and Johnnie Walker.
“Mr. Lane and Doubledown’s founder, Magnus Greaves, say that Doubledown is recession-proof because of its rarefied audience: men whose average net worth is between $3 and $5 million and who want to read about other men like themselves.”
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