Property is one thing that unites many in the lists of Australia’s richest people, a subscription to Ocean magazine might be another. The magazine has just celebrated its 100th edition with a special volume.
The Sydney independent title covers the boating world for luxury vessels and its pages are dripping with expensive options, whether it be editorial or the ad pages trying to temp readers with a purchase or a luxury upgrade.
The initial idea was conceived at the 2004 Sanctuary Cove International Boat Show (SCIBS), with Ocean launched exactly one year later at the 2005 show with a specific market in mind. “We focused on content and advertising for a high-net-worth readership, including prestige products and automotive and travel features to provide a complete lifestyle destination,” managing director and editor-in-chief Hillary Buckman told Mediaweek.
The magazine has always been a bi-monthly. It is a significant presence on the newsstand with an average of just under 200 pages with many editions pushing above that mark.
Hillary Buckman and the Ocean Media titles
“There are major boat shows in May and July and the coverage of those pushes up our pagination,” Buckman said.
She added the cost of distributing those books to subscribers is substantial. “I just got the bill for the 100th anniversary edition and it would make your eyes water,” she explained.
“We will just take the hit. We wanted to showcase the magazine with the anniversary and show off a little.”
The size of the latest edition indicates the business model is working, with the hard-to-reach upmarket audience loving their print editions.
“We are a niche publication and niche magazines seem to be surviving very well in the current environment. The boating industry is also very strong at present.”
The boating industry, like many others, came to a stop when Covid first hit. “But by the end of the first year though, the industry just boomed. People realised that boating was one way to isolate with family,” said Buckman.
Buckman onboard METIS the Benetti superyacht during the Monaco Yacht Show
“The very top end, ultra-luxury boats, are going through a little crisis with the Russian boycotts, but it’s not a part of the market we really touch on.”
The core interests for Ocean readers are boats starting at $1m+, said Buckman. Judging by some of the boats in the 100th anniversary edition though many of them are +++. “That can be boats in the 50 foot+ range, all very high-end luxury.”
Much of the boat building happens in Australia via Riviera and Maritimo on the Gold Coast. “In Western Australia there is also the superyacht industry with companies like Silver Yachts and Echo Yachts. There are also a lot of custom boat builders all around Australia who work on one boat at a time for clients.”
Ocean prints around 7,500 copies in addition to digital copies it distributes. The breakdown between subscribers and newsstand copies is 50/50. Some of the latest print run also went to Qantas Chairman’s Club and Business Class lounges.
Distribution is handled by Are Media’s Are Direct, the rebranded Ovato business Are Media acquired last year.
Printing is handled by IMMIJ in Sydney with Buckman noting they always wanted to keep the printing contract local. It would be a significant print bill given the publishers don’t skimp on paper stock. Something the impressive list of advertisers must appreciate.
The publisher won the Superyacht Industry Champion of the Year in 2018
Ocean Media also has two other titles in its portfolio. Sails, covering the world of sailing, sport, and lifestyle news, and The Great Southern Route, a 300-page directory for superyachts venturing into Australian waters.
Publisher Ocean Media also runs Ocean TV and the Ocean Club Concierge where a private lifestyle manager assists owners with corporate gifting, travel, restaurant and luxury charter bookings and more.