Josh Tyrangiel has yet another positive profile for his scrapbook. In the latest, Dylan Byers says the Bloomberg Businessweek editor has turned his product into “the most exciting business magazine out there.” Ad pages are up 21 percent year-on-year for January through July, and subscriptions are up 12 percent. Businessweek now loses between $20 million to $30 million a year, reports Byers — down from $63 million a year when Bloomberg LLC bought it in 2009. He also points out that the magazine “is still not really a must-read for most people,” as newsstand sales fell 34 percent in the first half of 2011.
“Josh took an 80-year-old magazine, a significant part of the American media landscape, and in a really short period of time, updated it to make it a must-read in the increasingly digital world that we are part of,” says Bloomberg News editor-in-chief Matt Winkler, the editor-in-chief of Bloomberg News. Time managing editor Rick Stengel adds: “He has a very good design sensibility and aesthetic, which is reflected in the magazine.”
“I fully concede I woke up on third base in some cases,” Tyrangiel says of the Bloomberg resources he has his disposal. “This magazine has advantages that other magazines did not, and I’m grateful for them every day.”