How Prospect Magazine Has Added a Million Readers Through Digital Transformation and Strategic Diversification
Prospect CEO Mark Beard on digital transformation without ditching print
Three years into Mark Beard’s tenure as CEO, Prospect magazine hit 30% circulation growth in 2025, its 30th birthday year—reaching 40,000 across print and digital. Over a million additional readers now find the publication across all channels.
The transformation required rebuilding digital infrastructure, finding the right technology partners, and moving into events and business-to-government services. Journalism stayed central throughout.
Fixing the Digital Plumbing
Beard describes the initial phase of his tenure as “fixing the plumbing”—addressing fundamental infrastructure issues before pursuing growth. Working with technology partners including Glide, Pugpig, WoodWing and Piano, Prospect rebuilt its digital foundations to support a multi-platform publishing strategy.
This wasn’t just about adopting new tools. It required rethinking how the magazine operated across channels. “We created a new digital plan for Prospect,” Beard explains, recognising that a monthly publication couldn’t compete in the daily news cycle without a robust digital presence.
The most dramatic result came from an unexpected source: Apple News, predominantly from the United States. This represents a significant audience expansion for a publication traditionally rooted in British current affairs.
The Apple News success demonstrates how strategic platform partnerships can amplify reach without diluting brand quality. Rather than chasing clicks, Prospect leveraged a premium distribution channel that aligns with its editorial values.
Events
Beard’s revenue diversification goes beyond traditional publishing playbooks. While other magazines chase subscription growth, Prospect built a thriving events business and moved into B2G—business-to-government services, alongside it’s B2B and B2C business.
The events are not generic conferences. They’re curated gatherings reflecting Prospect’s editorial expertise in politics, culture, and ideas. They generate revenue while creating opportunities for sponsored supplements and long-term client partnerships.
Prospect’s reputation for trustworthy, balanced reporting attracts government and other organisations, needing credible platforms for policy discussion. The infrastructure supports this: Prospect occupies a Westminster building “a stone’s throw from the House of Parliament” with a boardroom and 86-seat auditorium. MPs receive the Prospect monthly magazine, creating built-in convening power.
“We can help brands and organisations create thought leadership positions on particular policy issues,” Beard explains, “bringing together academics, business leaders, and politicians.” Events often lead to sponsored supplements and long-term partnerships—multiple revenue streams from single client relationships.
This isn’t just B2C anymore. It’s B2C, B2B, and B2G. Readers remain customers, but so do organisations which value association with Prospect’s credibility.
The Editorial Leadership Factor
Beard credits much of Prospect’s growth to editorial leadership, particularly Alan Rusbridger, who edited The Guardian for 20 years before joining Prospect. “Having Alan as editor for the first three years of my tenure was arguably one of the most critical factors in moving the dial,” Beard explains. “Alan’s not only one of the greatest editors of our time, but he’s also known for his solid commitment to trustworthy journalism.”
Rusbridger’s reputation proved invaluable beyond editorial quality. “He was an ideal figurehead for us,” Beard continues, “a physical embodiment of the journalism we were creating. His personal profile was very reassuring for readers and advertisers.”
The transition to Philip Collins as editor represents continuity rather than disruption. Collins, former chief leader writer at The Times and contributing editor at the Observer, is known for his “quality, incisive journalism of the highest order.” He’s positioned to build on Rusbridger’s foundation while putting his own stamp on the magazine; his first issue as editor was closing as we spoke.
Having a trustworthy and balanced publication isn’t just editorially important—it’s commercially essential. Corporate sponsors require confidence that associating with Prospect won’t damage their reputations. The editorial team’s credibility enables the business team to diversify revenue.
Monthly Print, Daily Digital
Being monthly in a 24-hour news cycle sounds like a disadvantage. Beard argues otherwise. The monthly format allows depth that daily sites can’t match, long-form features, thoughtful commentary, and context rather than breaking news.
Digital channels handle daily updates and timely responses. The monthly magazine delivers the considered thinking that readers return for.
Print matters beyond nostalgia. “We’re a premium product. We’re monthly. We want people to enjoy the reading experience,” Beard explains. The focus: make print profitable while incorporating our digital experiences, serving readers who still prefer physical magazines, and expanding reach through digital channels.
Readers Don’t Equal Subscribers
In 2025, Prospect’s 30th birthday year, circulation grew by 30%, reaching 40,000 across print and digital. “Circulation will be broadly steady this year,” Beard explains, “because we spent a lot of time growing circulation last year. Growth will come from other areas.”
Prospect measures success through readership and engagement, not just paying subscribers. Apple News distribution builds brand authority and audience without directly generating subscription revenue.
“It’s important we don’t see subscription as the only win,” Beard emphasises. “Some readers will come to the site, and they won’t subscribe, but they’ll pay us to attend an event, or they’ll buy a book. There are various other ways in which we can monetise the readers.”
With 250,000 monthly visitors and 35,000 paid subscriptions at (including those via Apple News), Prospect has considerable room to grow its subscription base. The focus, however, isn’t conversion at any cost but finding value across multiple touch-points. The Apple News audience (over 60% of whom are from the US) expands Prospect’s influence beyond its traditional British readership. These readers may not subscribe to print, but they’re potential customers for events, partnerships, and other revenue streams beyond subscriptions.
Technology Partners as Strategic Enablers
Beard’s emphasis on technology partnerships—Glide, Pugpig, Piano, WoodWing and OneSignal to name a few—highlights how modern publishing requires specialist expertise. But he’s equally focused on building internal capabilities. “In the last three years, we’ve pulled together a commercial team that includes people I’ve recruited from EMAP, The Guardian, and The Economist,” he notes. “We’re recruiting experts so that we can maximise revenue and business performance.”
The partnership approach also provides flexibility. As platforms evolve and new opportunities emerge, Prospect can adapt by working with specialist providers rather than being locked into in-house legacy systems.
But technology alone doesn’t drive growth; strategy does. Beard pushes back on the characterisation of Prospect’s paywall as “tight.” “Compared to The Times, Telegraph, and Economist, we’re much looser,” he explains. “We’ve purposely picked somewhere in the middle because we need to grow awareness.”
The strategy allows new readers to sample content before hitting registration requests and subscription prompts. “We spend a lot of time making sure we’ve got the right banners and buttons driving the business metrics while ensuring the reading experience remains good,” Beard notes.
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What’s Next
Asked about 2026 plans, Beard keeps it simple: “We’ll win if we continue to see many more people reading, watching, and listening to our journalism. That’s the top line.”
His experience at The Economist, working alongside editors John Micklethwait and Zanny Minton Beddoes; and with former Financial Times editor Lionel Barber on the Prospect podcast, Media Confidential, taught him what excellence requires. “The beauty of working at The Economist is that you know what good looks like,” he reflects. “Ruthless optimisation, investing in brand, taking care of the crown jewels—making sure editorial is front and centre.”
Prospect’s experience offers lessons for struggling publishers. Fix infrastructure before chasing growth; digital capabilities must match editorial ambitions. Diversify revenue where editorial credibility creates commercial value. Measure success through readership and influence, not just subscriptions. Leverage partnerships rather than building everything in-house.
Most importantly: monthly print can thrive in digital environments by playing to strengths—depth, quality, authority—rather than competing on breaking news. Intelligent strategy, executed consistently over the years, turns publishing challenges into growth opportunities. Prospect isn’t abandoning print heritage. It’s building on that foundation to reach larger audiences through more channels while funding the quality journalism readers expect.
About Prospect Magazine: Founded in 1995, Prospect is Britain’s leading monthly current affairs magazine, covering politics, ideas, culture, and world affairs with a reputation for balanced, in-depth journalism
