We keep forgetting to post this, but last month, NewsMax made a point of noting that "In recent months NewsMax Magazine has hit more than 100,000 paid subscribers - this means that more than 400,000 Americans read NewsMax Magazine each month!"
It's hard to say meaningful NewsMax's 4-readers-per-copy claim is, since no evidence is offered to support it. But let's take a trip back in time for NewsMax's history of fudging circulation figures.
As ConWebWatch has noted, NewsMax has publicly claimed in the past that the magazine has "a paid monthly readership of more than 300,000 readers," while noting at the same time in its filing for its abortive IPO that the magazine's circulation was, in fact, "approximately 59,395."
Given the similar lack of evidence to support the circulation claim and NewsMax history of lying about it, there probably isn't much reason to believe that claim, either.