Profits drop by almost half at Future Publishing

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."

Related stories

Future delivers improved results following Imagine acquisition

Video games media firm reports revenue increase of 35%

By Christopher Dring

Future to close Official Nintendo Magazine and website

Staff to be 'redeployed' elsewhere in company

By Dan Pearson

Latest comments (5)

Graham Simpson Tea boy, Collins Stewart6 years ago
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.
0Sign inorRegisterto rate and reply
Dave Stansfield Reviewer/Comedian 6 years ago
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.
0Sign inorRegisterto rate and reply
Neil Aldis Assistant Manager, Mobile Project Development, Capcom6 years ago
This isn't just about games magazines, this is about Future Publishing's entire output. Nail, meet coffin.
0Sign inorRegisterto rate and reply
Show all comments (5)
James O'Reilly 2D Artist / Animator 6 years ago
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

0Sign inorRegisterto rate and reply
Andrew Goodchild Studying development, Train2Game6 years ago
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.
I can't imagine the official xbox/ps magazines have fared well on this generation, it used to be that people paid that 7 to get access to demos, but why do that if you can download them off psn or live?
0Sign inorRegisterto rate and reply

Sign in to contribute

Need an account? Register now.