Based in London, Carugati has been tasked with capitalising on the brand’s global reach across a range of print and digital platforms. His arrival follows the publication winning the PPA’s International Magazine Of The Year award this year.
Through a mix of licensing deals and three joint ventures, Time Out currently publishes 35 city magazines – with a further 22 annuals and quarterlies – and six Time Out Kids titles around the world.
Carugati brings more than 20 years' international experience to the role, most recently from the branded content company BE: Branded Entertainment, where he was managing partner.
Prior to that, he was senior vice-president of global advertising at FBC (Fact Based Communications), where he handled all international commercial opportunities, and has also worked as international sales director at EuroNews and BBC World.
Graeme Tottle, group commercial director at Time Out, said: "More clients than ever are asking for truly international, cross-platform solutions that Time Out is ideally positioned, through its global network of digital and print city products, to provide.
"We are delighted that Nick has joined the team to ensure we continue to improve client focus and tailor unique solutions through a single point of contact."
Brands involved in multi-market ad campaigns with Time Out in the past 12 months include Nokia, Emirates, Samsung, American Express, HSBC and American Apparel.
The renewed focus on global advertising opportunities follows revitalised growth at the publisher after a year of 30% drops in domestic ad spend. Founder Tony Elliott injected up to £3m in the business at the start of the year to help balance the books.
Despite the tough economic climate, Time Out has launched 16 new publications since 2008, including seven new city titles (Bahrain, Budapest in English and Hungarian, Doha, Jerusalem, Porto and Shanghai), three paid-for Time Out Kids magazines (Chicago, Beirut and Abu Dhabi), two Time Out for Visitors magazines (Malaysia and Barcelona), two online launches (Tokyo and Kyoto) and the new Time Out Insider Guide series, which debuted in Buenos Aires and Abuja.
There have also been iPhone apps launched in London, New York, Chicago, Dubai and Sydney, while Time Out branded sites are now reported to attract an average of 5.2 million unique users per month.
The business now has a presence in 40 cities in 33 countries, and publishes in 14 languages.