|Melbourne businessman Nick Bolto has launched an annual magazine called The Difference, targeted at high earners in an effort to raise funds to fight disadvantage, social exclusion and poverty.
The Difference has outlined 10 indicators of poverty in Australia and has worked with charities to establish projects which the magazine hopes to help fund through philanthropy.
As part of its marketing strategy, 200 copies of the magazine have been sent to the chairmen and chief executives of the top 200 ASX-listed companies in a bid to make high earners aware of the social issues. The remainder of the 5000 copies will be distributed similarly. It has a cover price of $27.50 but has been sent free of charge to the chairmen and chief executives.
Bolto, the chief executive of Ostara, a disability services employment agency, serves as editor of the magazine.
The Difference investment manager Dianne Cotter told AdNews that the magazine hoped to make people aware of "the other side of the coin and what they can do to help impact the community". Cotter said they hoped the magazine will raise $10 million dollars in the next 12 months to fund the projects.
The magazine currently has no advertisers, with any changes to its commercial structure dependent upon the success of the inaugural issue. The second issue will be made available through subscription.
The Difference cost just under $80,000 to develop and print, with funding from the Victorian Government, the MECU credit union and personal funds from Bolto. Ten per cent of donations, up to $2 million, will go towards funding a second issue, after which point it will be reduced to 5 per cent.
The acknowledgments section of the magazine contains a disclaimer that identifies Chapter Seven Incorporated as the publisher of The Difference.
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