The Economist is to launch its first-ever daily edition, a bite-size digital briefing designed to complement the 171-year-old weekly news magazine.
The new weekday digital edition, called The Economist Espresso, is being positioned as an “espresso shot of global analysis” that can be consumed quickly as part of a morning routine. It is being made available as an Apple or Android app or email briefing.
John Micklethwait, editor-in-chief of the Economist, said that it aimed to be a must-read requiring no more than five minutes to digest the need-to-know stories of the day, news that broke overnight and market update.
“The weekly [edition] works as much for what we leave out as what we leave in,” he said. “It is the same principle with Economist Espresso. This new daily briefing will expand our reach and utility as a smart guide to the forces that shape the future.”
The briefing will go out each weekday and be tailored in three editions, the Americas, Europe and Asia.
The digital edition will be available as a standalone product at £2.49 a month ($3.99), or free for Economist subscribers who take a digital package.
Chris Stibbs, chief executive of the Economist, said the new product opens up a market of potentially 200 million online readers.
“There is a huge market out there we couldn’t get to in print that we can potentially reach now,” he said.
The app will be offered with a month free trial. A team of four editors, existing staff based in London, will do most of the work on each edition.
There will be support from Washington and Singapore to help tailor the content for readers in the international markets covered by the three editions.
The Economist claims a global circulation of 1.5 million, with those taking a digital-only package at 167,000.
An annual print and digital subscription costs £155. Print only or digital only costs £126 a year.
The launch follows a move by the Financial Times last month to overhaul its early-morning alert service. FT parent company Pearson owns 50% of the Economist.
The new-look FirstFT service has a similar aim to Economist Espresso, however, it also brings in news from non-FT sources, such as the Washington Post and New York Times.
FirstFT is headed by a new editorial team, led by head of aggregation Andrew Jack.
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