Recession-proof business media?

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.”

Read more here.Â