Variety heads to China
Bimonthly Mandarin edition to launch in April
The new venture, which aims to launch a range of RBI magazine titles into the huge Chinese market, will link RBI editorial brands and content with IDG's two-decades worth of experience in business-to-business publishing in China. Reed publishes three electronics titles in China.
Slated to debut as a bimonthly in the third week of April, Variety will be the first title to launch a Mandarin edition under the alliance; China's Ministry of Radio Film and Television will be included as a major partner. Backers aim to achieve a paid circulation of around 25,000 readers, with a mix of Chinese and U.S. advertisers helping to build what ultimately could prove to be a $40 million business.
Having decided to broaden its publishing scope in China, IDG chief exec Pat McGovern said the company identified Variety's entertainment industry content to be in great demand, given the recent loosening of regulations and investment in the film and TV industry.
"In the past, the Chinese government saw film and TV as a channel for the government to provide information on policy, but with its new WTO commitment and new government leadership, they're seeing the media as a large part of the country's GDP and a major growth area," said McGovern.
Publication will blend translated Variety articles with local editorial content. Publication will be marketed via direct mail to the MRFT's vast membership database of industry professionals.
IDG Asia/China CEO Hugo Shong will run the alliance in collaboration with RBI management. Variety publisher Charlie Koones will serve on the magazine's board.
RBI publication Packaging Digest is also in line to be exported to China.
"We've been looking for a partner with deep experience in China to accelerate future revenue growth in that critical, booming market, and IDG fits the bill perfectly," said RBI chief exec Jim Casella, who was a former chief operating officer at IDG.
