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Business News Media
Future Publishing revenues up
By CMU Editorial | Published on Wednesday 28 January 2009
Metal Hammer and Classic Rock publisher Future have announced a 1% year-on-year rise in revenues for the last quarter, though admitted they were helped in part by the strong dollar.
Advertising revenue across the board was up 1%, though online advertising went up 25%, which is good news for a company like Future that has to prepare for further slumps in ad revenues generated by print titles – print ad revenues for the quarter were down 4%. The company’s events and licensing business saw revenues go up 8%.
Despite the increases, CEO Stevie Spring was cautious, warning investors she was guiding the business through “uncharted waters” and that the company was not “immune” to challenges from the downturn.
She said in a statement: “Our focus this year is on guiding our business effectively through the uncharted waters of the current macroeconomic environment and ensuring we remain on course to deliver sustainable growth in the mid-term. While of course we’re not immune to current challenges, we’re mitigating these through the active management of our portfolio and through building in greater cost flexibility. We remain confident that we’re in the best shape we can be to deal with whatever challenges lie ahead and are on track to deliver against expectations for the full year”.
