The price depends on two things. How frequently is the magazine to be published? weekly, monthly etc and how much can the target audience afford? I have decided that I will publish my magazine weekly which will allow me to incorporate current news in the magazine which will still be current when published. With the magazine being published weekly and my target audience being teens to twenties, I will have to price the magazine quite low.
From doing market research into music magazines I have found out:
Spin magazine is $3.99 which converts to £2.54 in pounds sterling
NME magazine is priced at £2.20
With this information I decided to price my magazine at £2.10 as this is a competitive price for the weekly magazines that are already out there. Also, for my target audience this is variably cheaper and will include the same amount of information than the other magazines, therefore making it a cheaper but better option.
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