Media major EMAP has announced its revenues were down for the first quarter of the new financial year, with the consumer side of the business still struggling. Good old B2B publications maintained their revenues, events went up 6%, and 'information products' went up 14%; but consumer mags were down 8% and radio was down 2%, meaning overall group wide revenues were down 2%, compared with a 1% decline over the previous financial year.
EMAP Consumer boss Paul Keenan reported that it was men's mags like FHM and Zoo that were especially suffering ñ he told the Media Guardian: "I think women have a more emotional relationship with magazines. There's a big endemic advertising market - toiletries, cosmetics, fashion and beauty - who are long-term buyers in the magazine medium. But some of these digital sites have turned heads in the young men's market, though we think some of it will come back".
Although EMAP is feeling the pinch from new online competitors, its own online and digital revenues were up 34%, so they are getting some benefits from the growth of digital. As previously reported, I'm pretty sure, the media firm is still looking for a new CEO following the sudden departure of Tom Moloney back in May.