1. Virginia Business 2009 Audience Survey
Who our readers are, what they do, and why this matters…

2. What is Virginia Business?
The premier source of business information for the state of Virginia
Founded in 1986, entering its 24th year of publication
Statewide, controlled-circulation, glossy, the only magazine of its type in Virginia
Approximately 30,000 copies distributed monthly to c-suite executives and government leaders
Business Publications Audit (BPA) audited
Each copy of the magazine reaches nearly three readers. Total readership is approximately 75,000
But, our success is really about who we reach, not how many…
4/7/2019
2009 Audience Survey

3. Who is MRI? For magazines, MRI is the best in class research company.
For more than 25 years, Mediamark Research & Intelligence (MRI) has been a dominant voice in media and consumer research in the United States.
MRI's Survey of the American Consumer™ is the primary source of audience data for the U.S. consumer magazine industry.
Similar to Nielsen for television, Scarborough for newspapers and Arbitron for radio, MRI’s nationally-syndicated consumer magazine study is used by all major national media buyers and advertising agencies in the U.S.
For magazines, MRI is the best in class research company.
4/7/2019
2009 Audience Survey

4. Methodology Survey Period: January 26,2009 – April 6, 2009
Survey Method:
A five-page written questionnaire was mailed on Jan 26, 2009 with a follow-up mailing to non-respondents on Feb. 23, 2009.
Respondent Incentives:
A one dollar incentive was included with both mailings. Respondents were also entered into a drawing for an overnight golf package at the Boar’s Head Inn in Charlottesville, VA.
Sample Selection:
A sample of 2,000 was obtained from Virginia Business’ subscriber database using a random “nth” selection process. 30 addresses were undeliverable for a net sample of 1,970.
Completion:
558 completed questionnaires were received.
Response Rate:
28.6 percent
Standard Error:
At the 95 percent confidence level, +/(-) 1.85 percent.
4/7/2019
2009 Audience Survey

5. The MRI index
Certain data within this survey includes an “MRI Index.” These scores are computed in comparison to MRI’s national Survey of the American Consumer.
For example, 86.8% of Virginia Business’ subscribers took a domestic trip in the last 12 months while 52.5% of MRI U.S. Adults have done so. (86.8  52.5) X 100 = 165.
An index of 100 indicates no difference between the respondents and U.S. Adults. An index of 165 means the incidence of taking a domestic trip in the last 12 months among Virginia Business’ subscribers is 65% greater than that of all U.S. Adults.
Data from the MRI Spring 2008 Syndicated Study was used to calculate all indices.
4/7/2019
2009 Audience Survey

6. Targeted Audience
4/7/2019
2009 Audience Survey

7. Frequency of reading
On the average, out of four issues that are published, how many issues of Virginia Business do you read or look into?
The average issue’s readership is 89 percent!
Source: Mediamark Research, Inc Virginia Business Readership Study
n = 556
4/7/2019
2009 Audience Survey

8. Who reads Virginia Business?
Are you any of the following for your company?
n = 519
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

9. Company Size
What are the approximate gross annual sales or revenues of your entire company, including all plants, branches divisions and subsidiaries?
How many employees are there in your entire company, including all plants, branches and subsidiaries?
MRI Index 56
189
255
171
n = 519
n = 513
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

10. Demographics
4/7/2019
2009 Audience Survey

11. Virginia Business Subscribers
Upscale demographics
Virginia Business Subscribers
MRI U.S.
Adults
MRI Index
Mean age (in years)
57.0
45.7
125
Male / Female
71.5% / 28.5%
48.3% / 51.7%
148 / 55
Married
82.1%
56.0%
147
Graduated 4-year college or more
79.0%
25.8%
306
Post Graduate Degree
36.0%
8.7%
414
Own home
96.2%
70.5%
136
Mean home value (000s)
$603.1
$266.2
227
Own other properties
58.3%
11.8%
494
Investment real estate
29.3%
3.3%
888
Vacation/weekend home
26.1%
3.1%
842
Mean HHI (000s)
$277.0
$68.9
402
Mean Net Worth (000s)
$1,975.5
n/a
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

12. Virginia Business Subscribers
Upscale consumers
How much did you spend on fine jewelry/watches in the past 12 months?
Virginia Business Subscribers
MRI U.S.
Adults
MRI Index
Amount spent on fine jewelry:
$750-$1,499
21.9%
11.9%
184
$1,500 or more
55.1%
8.7%
633
Mean
$3,900
$500
780
Amount spent on watches:
$100-$299
26.2%
19.1%
137
$300-$499
10.7%
3.8%
282
$500 or more
34.5%
5.5%
627
$1,194
$119
1007
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

13. Travel
4/7/2019
2009 Audience Survey

14. Foreign and domestic travel
Have you personally taken a trip outside of the continental United States or to Alaska or Hawaii in the last three years?
Have you personally taken any trips of more than one day’s duration within the continental United States in the last 12 months? How many?
MRI Index = 204
n = 558
n = 472
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

15. Travel within Virginia
Have you personally taken a trip of more than one day’s duration within Virginia in the past 12 months?
How many?
n = 443
n = 443
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

16. Heavy travelers: Hotel preferences
One in five (20.6%) Virginia Business subscribers is a “heavy traveler,” meaning they took nine or more domestic trips in the past twelve months and at least one foreign trip within the past three years.
At which of these hotels have you stayed in the past 12 months?
National Chains
Selected Virginia Properties
n = 110
n = 110
4/7/2019
2009 Audience Survey
Source: Mediamark Research, Inc Virginia Business Readership Study

17. Heavy travelers: Rental car preferences
One in five (20.6%) Virginia Business subscribers is a “heavy traveler,” meaning they took nine or more domestic trips in the past twelve months and at least one foreign trip within the past three years.
Have you personally rented a car in the past 12 months?
From which of the following companies did you rent a car in the past 12 months?
n = 115
Source: Mediamark Research, Inc Virginia Business Readership Study
n = 90
4/7/2019
2009 Audience Survey

18. Decision-makers
4/7/2019
2009 Audience Survey

19. Company decision-makers
In your present position have you been involved with initiating, recommending, ordering or approving the purchase of any of these for your company in the past 12 months?
n = 506
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

20. Travel Planners: Off-site meetings
Forty-seven percent of Virginia Business subscribers are company decision-makers for meeting and travel purchases. They have been directly involved in initiating, recommending or approving convention/meeting sites or travel arrangements in the past 12 months.
Does your company plan to hold any off-site meetings in the next 12 months?
Approximately how many off-site meetings does your company plan to hold in the next 12 months?
n = 236
Source: Mediamark Research, Inc Virginia Business Readership Study
n = 102
4/7/2019
2009 Audience Survey

21. Economic development: Business expansion
Does your company plan to add satellite offices, expand its current physical plant and/or move to a new location within the next two years?
Which of the following region(s) of Virginia will your company consider as an option for a future location?
n = 517
n = 102
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

22. Executive education
Two of three (65.1%) of Virginia Business subscribers have attended a Virginia college for a degree program, while only 13.5% of them have attended Virginia schools for executive education.
Which of the following colleges and/or universities in Virginia have you attended for a degree program?
Which of the following colleges and/or universities in Virginia have you attended for executive education?
n = 519
n = 473
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

23. Reader Engagement
4/7/2019
2009 Audience Survey

24. A “must read” Do you consider Virginia Business a “must read?” n = 533
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

25. Content Engagement n = 522 to 551 4/7/2019 2009 Audience Survey
Source: Mediamark Research, Inc Virginia Business Readership Study
n = 522 to 551
4/7/2019
2009 Audience Survey

26. Are we getting better?
Compared to one year ago, would you say that the content of Virginia Business has gotten better, worse or stayed the same?
n = 547
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

27. Advertising Engagement
Source: Mediamark Research, Inc Virginia Business Readership Study
n = 540
4/7/2019
2009 Audience Survey

28. Advertiser perception
Are you more likely to regard a company as a serious player in the marketplace after seeing its ad in Virginia Business?
n = 532
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

29. Competitive Readership
4/7/2019
2009 Audience Survey

30. Readership of other publications
Which of these publications do you read regularly, that is, at least 3 out of every 4 issues?
Source: Mediamark Research, Inc Virginia Business Readership Study
n = 551
Three or more of the last four issues of Virginia Business were read by 87 percent of this audience!
4/7/2019
2009 Audience Survey

31. Comparison to Readers of Other Business Publications*
Virginia Business Subscribers
Other Business Publications*
Index
Male
71.5%
65.0%
110
Mean age (in years)
57.0
46.2
123
Married
82.1%
62.3%
132
Graduated 4-year college or more
79.0%
54.5%
145
Post Graduate Degree
36.0%
22.3%
161
HHI $150K-$199.9K
18.5%
13.2%
140
HHI $200K or more
39.3%
12.3%
320
Mean HHI ($000)
$277.0
$102.8
269
*Other Business Publications include BusinessWeek, Forbes, Fortune and Wall Street Journal.
Subscribers of Virginia Business are more affluent and better educated than readers of other business publications*. They are also more likely to be married, older and to be male than readers of the national business magazines.
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey 31

32. Comparison to Readers of Other Business Publications*
Virginia Business Subscribers
Other Business Publications*
MRI Index
Employed
94.0%
76.8%
122
Management/Business/Financial Operations
74.5%
30.7%
243
President
27.9%
4.8%
581
C-Suite
21.4%
5.1%
420
Owner/Partner
19.7%
12.3%
160
Involved in company purchasing decisions
88.9%
46.0%
193
$1Mil+ of business purchases
14.5%
10.2%
142
Average business purchases ($000)
$267.2
$181.2
147
*Other Business Publications include BusinessWeek, Forbes, Fortune and Wall Street Journal.
Virginia Business’ subscribers are well-employed and are more likely to hold management, business and financial job responsibilities. They are actively involved in purchase decisions for their companies and make larger purchase decisions.
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey 32

33. Multimedia Audience
4/7/2019
2009 Audience Survey

34. Total readership 29,974 controlled circulation x 89%
percent who read monthly
26,734
average monthly audience x
average readers per copy
74,854
total monthly readership
Sources: BPA Worldwide - Business Publication Audit, Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

35. Online audience
Have you ever visited Virginia Business’ Web site,
How often do you visit Virginia Business’ Web site in an average month?
n = 557
n =111
Source: Mediamark Research, Inc Virginia Business Readership Study
4/7/2019
2009 Audience Survey

36. Readers who visited in the past 30 days 8,234
Total audience
Online Unique Visitors 26,269
Print Readers 74,854
Readers who visited in the past 30 days 8,234
Total monthly audience = 92,889
Sources: BPA Worldwide - Business Publication Audit, Mediamark Research, Inc Virginia Business Readership Study, Site Catalyst Web Analytics
4/7/2019
2009 Audience Survey

37. Summary of Findings
4/7/2019
2009 Audience Survey

38. Virginia Business: Targeted, Qualified, Engaged
Summary of findings
Virginia Business has highly-engaged readers who respect the magazine and respond to its advertising.
Virginia Business readers are affluent and influential business decision-makers. 54 percent of our readers hold c-suite or higher positions at their companies.
Virginia Business reaches upscale consumers.
The average issue of Virginia Business is read by 89 percent of our subscribers.
Virginia Business has a significantly higher frequency of reading and significantly better audience demographics than national business publications and consumer magazines.
Our unduplicated net audience in print and online exceeds 90,000 readers/visitors each month.
Virginia Business: Targeted, Qualified, Engaged
4/7/2019
2009 Audience Survey