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It was a classic demonstration of modern magazine economics: as circulation rose in the initial phase of low advertising rates, money had to be poured in to meet the cost of producing more copies; but, as soon as high advertising rates could be justified by a high circulation, profitability was assured.
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With the Times's circulation and profitability now diminished, and little love for the new owners, the age of Otis seems greater than ever.
He will be particularly delighted if the DMGT's monopoly ends, and not just for business reasons: the Daily Mail calls him a pornographer with some justice, since he owns The Fantasy Channel, which screens adult programmes.Most paid-for papers are doing badly, in both circulation and profitability, while free papers are doing rather well.
"The key barometers of magazine success are circulation, advertising and profitability," Mr. Colvin said, adding that awards are beside the point.
"This magazine's profitability, circulation and ad revenue has doubled in all five years of its existence," Mr. Brewster said, perhaps unconsciously invoking Moore's Law, a maxim that held computing power doubled every 18 months.
Several big chains are off sharply from their 5-year high prices as they struggle with declining advertising revenues, weakening circulation and falling profitability.
Over the last decade, the Philadelphia region's population and job growth has stagnated while strong suburban competitors cut into The Inquirer's circulation, advertising base and profitability.
Rupert Murdoch, proprietor of The Times, has consistently presented his price cutting strategy as part of a long-term commercial endeavour to lift the newspaper's circulation and thereby its profitability.
In one case, an article about changes in business and news strategy at The Los Angeles Times noted that the newspaper was trying to improve the profitability of circulation by raising its price and cutting free-delivery "bonus" days for subscribers, among other steps.
The newspaper has managed to maintain profitability and a print circulation in the low teens through a combination of exclusive feature and news content, comprehensive editorial and listings – it is the only newspaper to review the majority of professional productions across Britain – and competitive advertising rates.
In starting these ventures, publishers like The Morning News say they are willing to take a short-term loss because they consider the potential payoff -- in advertising revenues, eventual profitability and, someday perhaps, paid circulation -- so great.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com