Close
Are you sure? Are you sure you want to report this comment? I understand, report it. Cancel

Finance

Profits drop by almost half at Future Publishing

Fri 20 May 2011 7:53am GMT / 3:53am EDT / 12:53am PDT
MediaFinance

Digital business is profitable for first time, sales drop overall to 69m

Specialist magazine publisher Future has reported profits of 800,000 for the first half of its financial year, down from the 1.5 million for the same period in 2010.

Sales were down 4 per cent to 68.8 million compared to 71.4 million, as the company once again described trading as "challenging".

The publisher of Edge, GamesRadar and official Nintendo, Xbox and PlayStation magazines said that ad sales in its games business were static in the UK and in the US ad sales for GamesRadar were up 31 per cent.

CEO Stevie Spring noted that the digital business became profitable for the first time this half.

"Trading in the first half was challenging, yet we've seen six months of an accelerating pace of change as the arrival of powerful mobile devices increases digital content consumption. The decline in profits includes maintained planned investment, particularly in digital, as we continue to transition our business for the future," she said.

"Our digitised content revenues grew 30 per cent in H1 and online now represents 34 per cent of our commercial advertising and, with a tenfold increase in digital edition sales, an increasing percentage of our consumer circulation revenues.

"Significantly, our digital activities were profitable for the first time this half."

5 Comments

Graham Simpson
Tea boy

219 7 0.0
No surprise. PC Gamer have the worst game reviewers in industry hands down. Puerile springs to mind when ever I sadly have to read one of their reviews.

Posted:3 years ago

#1

Dave Stansfield
Reviewer/Comedian

12 0 0.0
I remember reading the first Official Nintendo Magazine after it was switched over to Future Publishing and I've honestly never read such tripe before. I'm shocked that sales haven't gone down in the UK.

Posted:3 years ago

#2

Neil Aldis
Assistant Manager, Mobile Project Development

8 0 0.0
This isn't just about games magazines, this is about Future Publishing's entire output. Nail, meet coffin.

Posted:3 years ago

#3

James O'Reilly
2D Artist / Animator

3 0 0.0
ImagineFX is still a top quality Magazine. From my understanding it is one of the few, and one of the best concept art magazines

Edited 1 times. Last edit by James O'Reilly on 21st May 2011 2:07am

Posted:3 years ago

#4

Andrew Goodchild
Studying development

1,235 396 0.3
Pretty much most of the people I know who have tried edge and games tm go for games tm, Edge has that overly cynical approuch that NME always aplied to music.

Posted:3 years ago

#5

Login or register to post

Take part in the GamesIndustry community

Register now