Uh, TIME has a circulation of about 4 million weekly.
Which means that there are almost 100 million people who don't read it.
TIME is mostly found in waiting rooms and the like, so multiple people read one issue. And obviously not a single person who didn't read knew who Barack Obama was.
Most TIME magazines in waiting rooms are multiple months old and speak of the urgency of climate change/why we need to maintain ObamaCare/and the like. And the people who watched the 04 Democratic Convention and read his books knew who he was.
Well, a good number are articles about how the childrens must be protected from dope and "sexting."