However, even though to outsiders this format is little more than recited printed information from the Watch Tower Society, Jehovah's Witnesses colloquially refer to this as their "main spiritual meal of the week". It's also referred to, officially, as Bible study.
In the October 15th Study Edition of the Watchtower, the following statement is made on page 21, par 5 (available as a PDF download from here);
Here's the image being referred to.5 Starting with the first study edition of The Watchtower, the January 15, 2008, issue, a significant detail was included on the front cover. Did you notice it? Take a good look at the cover of the magazine you are holding. There, at the base of the tower, you will note an open Bible. That added feature under- scores the reason why we have the Watchtower Study. It is to study the Bible with the help of this magazine. Yes, at our weekly Watchtower Study, God’s Word is “being expounded,” and just as in the time of Nehemiah of old, there is “a putting of meaning into it.”—Neh. 8:8; Isa. 54:13.
It's interesting that the tower literally towers over, or dominates, the Bible. Which is perhaps exactly the point, as is borne out by the above quote;
That added feature under- scores the reason why we have the Watch- tower Study. It is to study the Bible with the help of this magazine. Yes, at our weekly Watchtower Study (emphasis added)Which is it? A Bible study or a Watchtower Study? Well, the Witnesses are indoctrinated to argue that it's a "study of the Bible with the aid of the Watchtower magazine". But let's face it, as the quoted paragraph affirms, it's a Watchtower study.
Jehovah's Witnesses, if you want to study the Bible, study the Bible. Pick it up, open it, pray, then read it. Then pray again. It's really simple. And you'll be amazed at what Jehovah God says to you when you do this, how you'll hear his voice and receive his direction free from any additives.
And remember, the Governing Body (or the "faithful and discreet slave" class) don't have any more insight or Holy Spirit than you do**, so by their own admission, they are no more 'qualified' to explain or expound the Bible than you.
** "However, genuine anointed Christians do not demand special attention. They do not believe that their being of the anointed gives them special "insights," beyond what even some experienced members of the great crowd may have." - Watchtower, May 1, 2007 Question Box