The Economist boasts 1.5m magazine circulation and 36m social media followers

The Economist today claimed a global paid-for magazine circulation of more than 1.5 million and more than 35 million followers on social media.

The magazine circulation is said to comprise 1,244,009 print and 303,686 digital editions per week.

The Economist claims that its social media following has grown by 44 per cent over the last year to a total of 35.6 million, which it says is more than any other global media brand with the exception of the New York Times.

Deputy editor and head of digital strategy Tom Standage said: "Social-media platforms are a powerful way for us to introduce people to our high-quality journalism.

"These figures demonstrate the effectiveness of our efforts to increase the size of our social audience and reach potential new subscribers. We continue to expand on to new platforms, such as LINE, a popular messaging app, where we have amassed nearly 100,000 followers since launching in January."

The Economist said it has dropped 100,000 free bulk copies from its magazine distribution as a part of a plan to increase circulation profitability.

The website, which operates a metered paywall model, is said to reach 11 million unique browsers per month. Registered readers can read three articles a week before having to take out a subscription.

It also claims a further eight million monthly email newsletters subscribers with an average monthly open rate of 23 per cent.

In terms of social media reach The Economist boasts:

• 15.7m Twitter followers
• 7.5m Facebook likes
• 10.1m Google+ Circle members
• 1.4m LinkedIn members
• 390,000 Instagram followers
• 218,000 Tumbler followers
• 142,000 Youtube subscribers.