A decade in – growth of luxury ad market boosts Wish

Sarah Homewood
By Sarah Homewood | 30 September 2015
 
Wish Magazine 10th anniversary cover

The Australian's Wish magazine is turning 10 and to mark the occasion it's published 10 different cover stories along with 10 matching covers, which will be distributed around the country.

While the magazine will remain the same, the covers will differ with each featuring an array of famous Australians.

There's interviews with actress Judy Davis and Merivale CEO Justin Hemmes, and coverage of the Wish Luxury roundtable which features chef Luke Mangan, founder and CEO of Mecca Cosmetica Jo Horgan, and CEO of Virgin Australian, John Borghetti.

Wish editor, David Meagher, told AdNews the magazine's success can be credited with the growth of the luxury market locally, and the fact that brands still very much value a printed product.

“The luxury market in Australia has grown and matured in the last 10 years,” he said. “There has been more brands entering into this market and we hear there are more brands coming at the same time.

“Tourism is still part of the base for luxury brands here, but they've become more and more aware that their customers are coming from the local market, and that has helped them to grow and establish strong businesses here."

The anniversary issue of Wish will have 116 pages, which is the biggest book the title publishes.

It has 11 double-page spreads before the contents page, featuring advertisers like Omega, Tiffany, Dior, Calvin Klein, Porsche and Breitling, just to name a few.

In the last year, Wish’s revenue has increased by 26% and the FY15 Nielsen Adex data shows the title has 56% market share, compared to other national newspaper inserted magazines.

“For luxury brands, take US Vogue as an example, their September issue was a record issue again and they keep saying it's a record number of pages, but I think what that shows for a lot of those fashion and luxury brands print is still their key driver," Meagher said.

“They advertise online and in other platforms, but print is still a very important medium for them. From Wish's point of view we haven't seen a decline in advertising revenue from those brands."

Meagher also revealed the title is exploring opportunities for its own digital ecosystem and the newspaper inserted magazine is also launching a “unique digital edition” in the form of a digital flip book, which has its own URL with full-size and fully rendered pages.

CEO of The Australian Nicholas Gray said, “The Australian attracts a premium audience that is passionate about enjoying the finer things in life. With household incomes that exceed the national average, they can afford to.

"For 10 years, Wish magazine, brilliantly edited for almost its entire life by David Meagher, has been a highly anticipated monthly experience for our readers and has delivered the premium environment for advertisers who are looking to engage with this audience."

The anniversary edition of Wish comes out this Friday.

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