Bankrolled by Wall Street, read by the seriously rich

IN 1983 the Wall Street Journal took its product directly to Europe. A decade later the Brussels-based Wall Street Journal Europe, circulation 57,000, believes it has taken root on this side of the Atlantic.

Philip Revzin, the editor, says: 'Our approach for about the last year and a half has been to increasingly Europeanise the content.' On a typical day, at least two of the three main front-page stories will be European. The third might be an American story given a stronger European angle. There will inevitably be a strong American element to the European paper, Mr Revzin says, but on any given day 'probably more than 50 per cent of the content is European'.

He has 10 reporters and a dozen editors, plus another dozen or so stringers. Technological advances have enabled the paper to share a collective pool of news articles and a combined 'copy desk' of sub-editors in New York with the US paper and the Asian Wall Street Journal.

The European staff are a mixture of Journal veterans, particularly in the editing jobs, and local recruits. Mr Revzin says: 'The new hires I have been making recently tend to be either Americans or Europeans who have lived here a long time. It's rare that we will take somebody from Chicago and say, 'OK, come to Europe. You don't speak any languages, but we'll teach you.' '

The paper has adopted and adapted regular features of the US Journal, including columns on advertising, technology, law and small business. It has originated a column on privatisation in Russia and Eastern Europe that is available to the US Journal. When the paper began in 1983, daily circulation was around 20,000. Now it is growing by 6 per cent a year, Mr Revzin says. The largest sales are in Germany and the UK, with more than 10,000 each. Advertising revenue went up by 7 per cent last year.

Mr Revzin is unable to provide profit figures, explaining that the parent, Dow Jones & Company, does not break them down. On the accounting standard used by the company, he says, the European Journal loses money, but he argues that this does not give a true picture. An advertisement in the US Journal that originates in Europe is counted towards the profit of the US Journal, even if it was sold by the European staff. If money spent in Europe is set against revenue earned there, Mr Revzin says, 'we're vastly profitable'.

The European paper has benefited from the kudos of its American parent, and its restrained appearance seems to suit its readers in the European business community. In early years the buoyancy of the economy helped advertising, although the last three or four years have been tough.

Alastair Smellie, a media analyst for Lehman Brothers International in London, says that with an even greater European content and look, pushed by aggressive marketing, the Journal could reach a circulation of 50,000 in Britain. Non-readers perceive the European Journal's American content to be higher than it actually is, he says.

Mr Smellie believes that the complicated look of the Journal can discourage readers, and he is personally irritated at its practice of continuing stories from the front page to the depths of the newspaper. 'I don't think it's the easiest paper in the world to read,' he says.

The paper has formed a partnership with Handelsblatt, the German financial daily, that allows shared advertisements and gives the Journal a valuable route into the large German-speaking market.

The readership is three-quarters European, with a heavy proportion of senior executives, bankers and traders. The demographics, says Mr Revzin, 'are better than the American Wall Street Journal because we have a smaller circulation. The average income is well over dollars 150,000 a year.'

(Photograph omitted)

News
In 2006, Pluto was reclassified as a 'dwarf planet'
scienceBut will it be reinstated?
News
Jennifer Lawrence at the Vanity Fair Academy Awards party in February 2014
people12 undisclosed female victims are seeking $100m in damages
Arts and Entertainment
Adam Levine plays a butcher who obsessively stalks a woman in Maroon 5's 'Animals' music video
music'Animals' video 'promotes sexual violence against women'
News
people Biographer says cinema’s enduring sex symbol led a secret troubled life
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
News
ebooksAn unforgettable anthology of contemporary reportage
Voices
voicesI like surprises - that's why I'm bringing them back to politics, writes Nigel Farage
News
Bear and hare woodland scene from John Lewis Christmas advert
newsRetailer breaks with tradition, selling real festive fir trees online for the first time
Arts and Entertainment
Anthony Horowitz will write the next 007 novel
booksAnthony Horowitz to write new instalment in spy series for 2015
News
British actor Idris Elba is also a DJ and rapper who played Ibiza last summer
people
News
people

Kirstie Allsopp has waded into the female fertility debate again

Sport
Kicking on: Nathaniel Clyne is relishing the challenge of the Premier League after moving from Crystal Palace
footballSurprises include a first ever call-up for one Southampton star
Voices
4 May 2013: The sun rises over Tower Bridge in London. Temperatures across the UK could be higher than several European holiday destinations by Monday, including parts of Italy and France (Andy Hepburn/PA)
voices
News
The moon observed in visible light, topography and the GRAIL gravity gradients
science

...and it wasn't caused by an asteroid crash, as first thought

News
Researchers say a diet of fatty foods could impede smell abilities
scienceMeasuring the sense may predict a person's lifespan
News
newsGlobal index has ranked the quality of life for OAPs - but the UK didn't even make it into the top 10
Extras
indybest
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Media

Trainee Recruitment Consultant

£20000 - £25000 per annum + Uncapped Commission, 1st yr OTE £30-£40k : SThree:...

Trainee Recruitment Consultant

£18000 - £30000 per annum + uncapped: SThree: Do you feel your sales role is l...

Trainee Recruitment Consultant

£20000 - £45000 per annum + uncapped: SThree: Key featuresA highly motivated ...

Account Director / AD

£Competitive + Excellent Benefits: Guru Careers: An Account Director with a ba...

Day In a Page

Italian couples fake UK divorce scam on an ‘industrial scale’

Welcome to Maidenhead, the divorce capital of... Italy

A look at the the legal tourists who exploited our liberal dissolution rules
Tom and Jerry cartoons now carry a 'racial prejudice' warning on Amazon

Tom and Jerry cartoons now carry a 'racial prejudice' warning on Amazon

The vintage series has often been criticised for racial stereotyping
An app for the amorous: Could Good2Go end disputes about sexual consent - without being a passion-killer?

An app for the amorous

Could Good2Go end disputes about sexual consent - without being a passion-killer?
Llansanffraid is now Llansantffraid. Welsh town changes its name, but can you spot the difference?

Llansanffraid is now Llansantffraid

Welsh town changes its name, but can you spot the difference?
Charlotte Riley: At the peak of her powers

Charlotte Riley: At the peak of her powers

After a few early missteps with Chekhov, her acting career has taken her to Hollywood. Next up is a role in the BBC’s gangster drama ‘Peaky Blinders’
She's having a laugh: Britain's female comedians have never had it so good

She's having a laugh

Britain's female comedians have never had it so good, says stand-up Natalie Haynes
Sistine Chapel to ‘sing’ with new LED lights designed to bring Michelangelo’s masterpiece out of the shadows

Let there be light

Sistine Chapel to ‘sing’ with new LEDs designed to bring Michelangelo’s masterpiece out of the shadows
Great British Bake Off, semi-final, review: Richard remains the baker to beat

Tensions rise in Bake Off's pastry week

Richard remains the baker to beat as Chetna begins to flake
Paris Fashion Week, spring/summer 2015: Time travel fashion at Louis Vuitton in Paris

A look to the future

It's time travel fashion at Louis Vuitton in Paris
The 10 best bedspreads

The 10 best bedspreads

Before you up the tog count on your duvet, add an extra layer and a room-changing piece to your bed this autumn
Arsenal vs Galatasaray: Five things we learnt from the Emirates

Arsenal vs Galatasaray

Five things we learnt from the Gunners' Champions League victory at the Emirates
Stuart Lancaster’s long-term deal makes sense – a rarity for a decision taken by the RFU

Lancaster’s long-term deal makes sense – a rarity for a decision taken by the RFU

This deal gives England a head-start to prepare for 2019 World Cup, says Chris Hewett
Ebola outbreak: The children orphaned by the virus – then rejected by surviving relatives over fear of infection

The children orphaned by Ebola...

... then rejected by surviving relatives over fear of infection
Pride: Are censors pandering to homophobia?

Are censors pandering to homophobia?

US film censors have ruled 'Pride' unfit for under-16s, though it contains no sex or violence
The magic of roundabouts

Lords of the rings

Just who are the Roundabout Appreciation Society?