After 51 years in print, Institutional Investor will scrap its paper edition and go digital-only after its April issue, the financial magazine announced this week.
The decision comes as the result of “sustained and substantial growth in online reader traffic,” and increased demand among advertisers for digital marketing solutions, according to a statement.
“Asset managers and allocators have an increased desire to consume content and market digitally, given the ease of access, efficient targeting, and generational change in the industry,” said Institutional Investor CEO Diane Alfano in the statement. “It’s exciting to watch the evolution of our business and the shift from print to community.”
A 2017 media kit, the most recent available, places Institutional Investor‘s circulation at just under 93,000 in North America and 25,000 abroad; its website attracted 170,000 unique monthly visitors in 2016, and Alfano says traffic jumped an additional 20 percent over the past year.
Kip McDaniel, who joined the publication as chief content officer in 2016, will continue to lead Institutional Investor‘s editorial strategy.
The shift is part of an ongoing strategy shared by its London-based parent company, Euromoney, to focus more on core businesses like events, research, and membership products—which Alfano says now account for the vast majority of Institutional Investor‘s revenues. Euromoney sold off its publishing assets in the energy industry for $18 million two years ago, and its 12-title journal publishing business (Institutional Investor Journals) to London-based Pageant Media in January.
“II Journals is a high-quality business but not our strategic focus,” said Alfano at the time. “We are delighted to have found in Pageant Media a new owner which is looking to invest in the sector and to take the business to the next stage of its growth.”