Future to invest in launches despite revenue drop
Magazine publisher Future says it will continue to invest in new product launches this year despite a “challenging” trading environment.
The publisher says revenue for the six months to 31 March is down 2-3% year-on-year and that full-year profits are likely to be £2m less than forecast.
Trading profits were particularly affected in the period by “the structural shift to digital distribution”, particularly in video gaming, its largest sector, which includes titles such as Official Xbox Magazine and gamesradar.com
Future says it is seeing a strong return on its digital and partnership products and will continue to invest in these sectors in both the UK and US.
Future announced the launch of quarterly car technology magazine iCar earlier this month in print and for tablets.
Future is reported to be one of two shortlisted publishers bidding for a stake in BBC Worldwide’s magazine division.
