From the Publisher

By Louis A. Weil III

Last month President Bush took his turn at one of the oldest American traditions, reporting on the embattled but gallant State of the Union. Some Governors and corporate executives do something similar. After a turbulent year for many in our industry, but a reassuring one for us and our colleagues at Time Inc. Magazine Co., it seems appropriate to tell you something of how TIME is faring. In short, 1990 was a very good year, considering the state of the economy, thanks to the loyalty of our readers and advertisers. Despite the added economic chill that is one of many sad effects of the gulf war, 1991 looks promising too.

The health of the magazine arises from the vibrancy and relevance of its content. The public apparently likes what we provide: last year 40 million Americans a week, or more than 1 in 5 adults, read a newsmagazine, and the largest number chose TIME. U.S. circulation in 1990 averaged almost 4.2 million an issue; including those who get a copy passed along by someone else, we reach 21 million people a week. To let readers know how we value this loyalty, last year consumer-marketing director Ellen Fairbanks launched TIME Plus, a subscriber-benefits plan that includes quarterly insider reports from editorial headquarters and bureau chiefs around the world and chances to buy TIME products. As Fairbanks says, "TIME is fortunate to have many satisfied long-term subscribers. We want to reinforce the relationship."

% Reader loyalty and trust are part of what attracts advertisers. Another factor is our commitment to help companies meet strategic needs through new technologies and special marketing, while maintaining our editorial independence. Creativity in advertising surely contributed to our being rated the favorite magazine of media directors and media sellers in a 1990 poll conducted by Advertising Age. It also had a lot to do with our ability to hold sales of ad pages basically even -- 2,728 in 1990 vs. 2,734 in 1989 -- in a period when most magazines, newspapers and TV stations were enduring deep cuts. As advertising sales director Steve Seabolt says, "In this environment, flat is beautiful."

But the most important fact for us every year is that our readers feel comfortable with our coverage. When the TV game show Family Feud asked people in a survey to name "a magazine you trust," TIME placed first. We wouldn't have it any other way.