Digital Revs Offsetting Print at Future US
British and U.S. specialty publisher Future US announced today that increases in digital revenue across its titles is now offsetting declines in overall circulation. In its latest “Interim Management Statement,” the company reported flat earnings for the fiscal 2011 first quarter that ended on December 31, 2010. In the U.K., circulation revenue decreased 4% while advertising revenue increased 7%.
In the U.S., which represents less than a third of Future US’ business, circulation revenue was down 12% and overall ad revenue was down 6%. Digital advertising was up 25%, more than offsetting the 10% drop in print ad revenue. Overall, however, the company says, “growth in commercial revenue compensated for pressure in circulation, so aggregate revenues in Q1 were broadly unchanged.” Future US now attributes 32% of its total ad revenues to digital sources.
Future US publishes a range of specialty magazines and custom publishing projects, including T3 and Total Film in the UK and Guitar World and Official Xbox Magazine in the U.S. The company has been active in the app market in recent months, releasing innovative smartphone and tablet apps for the Guitar World and Mac|Life brands.