You appear unclear on the business model of print publications. Readers have always been the product being sold to advertisers, with a cover price designed to hit the sweet spot for the desired demographic in the case of magazines that essentially no one pays because they subscribe for a fraction of that rack rate.
A 33% newshole is pretty damned good for a pub with that many full-bleed colour positions for editorial.
You appear unclear on the business model of print publications. Readers have always been the product being sold to advertisers, with a cover price designed to hit the sweet spot for the desired demographic in the case of magazines that essentially no one pays because they subscribe for a fraction of that rack rate.
A 33% newshole is pretty damned good for a pub with that many full-bleed colour positions for editorial.