Ziarul Financiar saw one of the soundest growths in advertising revenues on the entire printed press market in H1, due to the increase in audience and to the reader quality. The data provided by Alfacont MediaWatch, the company that monitors the printed press market, show ZF to have registered 73% growth in gross advertising revenues (rate card) to $2.6 million, compared with the same time last year. ZF climbed to the 4th position among dailies in terms of (rate card) advertising attracted from the 8th position last year. Libertatea, Evenimentul Zilei and Romania libera are the top three dailies in terms of advertising. In spite of being number ten on the daily market in terms of audience, Ziarul Financiar has progressed on the advertising market particularly because of its high reader quality, which is the most important thing to advertisers. According to the National Audience Survey (SNA) for the printed press, ZF readersi' net incomes are the highest among all Romanian press readers, i.e. $222 a month on the average. More than 55% of the newspaperi's readers come from the AB social category (top and middle managers, higher education professionals), 51% are college graduates and 96% are at least high school graduates. ZFi's average daily audience reaches 133,000 readers, according to the latest SNA report. The first data supplied by SNA last year showed ZFi's average daily audience to reach 118,000 readers, so that ZF is the only top ten daily besides Libertatea to have seen its readership progress. In its position as a specialised newspaper, ZF relies on subscriptions, and the high loyalty of its readers is a major competitive edge. According to BRAT (Romanian Circulation Audit Bureau) the number of subscriptions (calculated as an average per issue) throughout July-December 2001 amounted to 7,600 in addition to more than 3,000 daily copies supplied upon request. A year later, that is throughout July-December 2002, the number of subscriptions had gone up to nearly 10,500 plus 1,200 daily copies upon request. The latest internal ZF data show the number of subscriptions increased by 12% this May, reaching nearly 11,800 in addition to 650 daily copies upon request. ZF
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