Future digital revenues steer results back to black

Future publishing has returned to the black, reporting a £1.1m profit in its financial year, compared to a £18m loss the year before, boosted by a 30% jump in digital revenues.

Mark Wood: Future's chief executive
Mark Wood: Future's chief executive

The specialist publisher, whose titles include Total Film, Classic Rock and flagship technology title T3, reported pre-tax profits of £1.1m in the year ending 30 September, compared to an £18m loss the year before.

Its performance was helped by the restructuring of the business over the past 18 months which took out £4.5m annual savings out of the business.

Future has also managed to turn around the fortunes of its US arm and said the business will return to profitability in 2013.

Revenues in the overall business were down, however, from £141.7m to £123.5m.

Future said digital revenues jumped 30% to £20.6m in the year and digital advertising now accounts for 44% of its total advertising.

Future is increasingly looking to launch tablet-only titles, as it looks to become a pioneer in digital publishing.

The publisher, headed up chief executive Mark Wood, said that digital edition sales of its titles were now hitting $1m a month and that visits to Future website are up 70% to in excess than 50m global unique users a month.

Peter Allen, Future’s chairman, said: "The new senior executive management has succeeded in refashioning the business and demonstrated that it has the strategic and execution skills to achieve further progress in the year ahead."

Mark Wood, Future's chief executive, said: "This has been a year of substantial progress for Future and the Group is now well positioned to grow and diversify revenues as a global digital business. Our US operations have been restructured and are heading for profit in 2013.

"We are a leading publisher in tablet markets and our online audience has grown by 70% to more than 50 million unique users a month. These advances are opening new opportunities and we will accelerate Future’s digital transformation in the year ahead."

The results follow Future’s recent launch of Tech, the weekly iPad title.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Lost in translation: when brand taglines don't travel

Lost in translation: when brand taglines don't travel

These might be some of the most memorable brand taglines in English but when they cross oceans, they mean something entirely different. We searched the depths of the internet to find the best, or worst.

Share
Traditional TV viewers predicted to drop as mobile fuels rise in online video

Traditional TV viewers predicted to drop as mobile fuels rise in online video

Linear TV viewing figures are set to drop worldwide for the first time next year, with online video consumption set to rise by 23.3 per cent in 2015, according to a report by ZenithOptimedia.

Share
The 7 deadly sins of brand management - and how to avoid them

The 7 deadly sins of brand management - and how to avoid them

Some of the most valuable assets a firm has are the brands it has developed. Brands create identification, differentiation and value for customers and shareholders alike. By influencing customer choice, creating a loyal and passionate following as well as commanding a premium for their products and services, strong brands can be key to great business performance.

Share

Get news by email