Magazine publisher Future sees growth in digital advertising

MAGAZINE group Future Publishing now takes in more than half of its advertising revenue from digital adverts, the owner of T3 and Total Film reported yesterday.

The company said that income from online, tablet and mobile ads have accounted for 54 per cent of advertising revenue since October, up from 45 per cent a year ago.

Total revenues, which include subscriptions and other sources of income, saw digital account for 23 per cent, up from 18 per cent a year ago.

Future, which owns a stable of film, gadget, music and sports magazines, said like-for-like revenues had fallen about three per cent as the print magazine landscape “remains challenging”.

Its US business, which has seen print revenues decline a lot faster than the more resilient UK market, remains loss-making, Future said. Seventy-four per cent of the US business’s revenues now come from digital while UK saw revenues down by just one per cent.

Future has seen video game magazines in particular suffer as more people search out online reviews. It has closed four gaming magazines in the last year.