Future continues to expand digital business - BikeBiz

Future continues to expand digital business

Significant growth recorded in digital, but overall group revenue slips
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Future has seen its digital revenue climb an impressive 30 per cent in its latest Interim Management Statement.

Covering the period from October 1st 2011 to July 31st 2012 (and incorporating Q3 to June 30th) normalised Group revenues were down four per cent (£87.9m). However UK normalised revenues were up one per cent.

Digital edition sales on the iPad and other tablets in Q3 boosted the results - Future has now sold in excess of 1.7million copies of its products through Apple's Newsstand since it launched in October 2011.

Future said it was on track to see full year results in line with its expectations and its US business will return to profitability in 2013. The media company is diversifying its revenues in the territory and launched BikeRadar and TechRadar in North America. BikeRadar US unique users are up 47 per cent year-on-year, according to Future.

Chief executive Mark Wood said: "We have made further progress in transforming Future into a more digital business, building strong sales on tablets and building our online properties in the US. The profile of Future is changing at a rapid pace, and we are excited by the prospects."

Future was named Consumer Digital Publisher of the Year by the UK Association of Online Publishers in July, making it the only UK media business to win the accolade for two consecutive years.

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