Gemstar-TV Guide International Inc. on Wednesday said newsstand sales of the first 11 issues of its revamped TV Guide magazine jumped 38 percent, to 400,000, over the third-quarter's average weekly digest newsstand sales of 290,000 per issue.
The Los Angeles-based parent of the New York publication said sales have also exceeded estimates given to advertisers by more than 50 percent during its first 11 weeks in circulation. The magazine's average circulation for the 11 larger, glossy full-color issues published in 2005 was 4.9 million.
The sixth issue, dated Nov. 21, achieved newsstand sales of approximately 850,000 copies, representing the highest newsstand sale of any issue of TV Guide since September 2003. Sales of that issue were helped along by a marketing partnership with NBC that included heavy promotion on the network.
The company estimated that cancellations due to the redesign represent about only 2 percent of the re-launched magazine's subscriber base, less than had been projected in light of the drastic redesign.
"We are very pleased with the positive responses that the new TV Guide has received from many readers, retailers, industry leaders, and advertisers. Based on the early responses we have received, it is clear that our readers are reacting positively to the improved editorial quality of the magazine," said Scott Crystal, TV Guide Publishing Group president, in a statement.
Shares of Gemstar rose 14.3 percent to settle at $3.12 on Wednesday.
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