What The Rich Are Reading
Pulling data from GfK MRI’s Study of the American Consumer, Adweek took a look at what the rich are reading. It’s kind of fun to see The Costco Connection among the most popular magazines. You have to wonder, is it their cost-consciousness that landed them in the top tax bracket?? But what’s more interesting is this: The most popular publications, it turns out, generally aren’t scoring so well when it comes to audience engagement. Among the top 10 most commonly read publications by rich Americans, only Consumer Reports and National Geographic are also top 10-ers when it comes to time spent reading each issue.
The other key difference between these lists: The magazines most popular among the rich are the same magazines that are most popular with lower-income Americans too. In other words, while Reader’s Digest, AARP and People are popular among older rich people, they’re also popular among older poor people — “wastage” in the eyes of many advertisers. The CPMs are much higher for magazines on the “most time spent” list.
Are they getting premium ad rates because their readers are more engaged, or just because they have fewer readers with low household incomes?