Future bets on SheerLuxe as Google squeezes digital publishers
Future said the acquisition of SheerLuxe and a push into AI-driven products would help return the publisher to growth after weaker digital ad and ecommerce markets dragged profits lower in the first half.
The media group behind Marie Claire, TechRadar and Go.Compare reported revenue of £349.1m for the six months to March 31, down from £378.4m a year earlier, as ongoing changes to Google search traffic continued to hit online audiences.
Operating profit more than halved to £32.7m from £69.1m, while the group dubbed trading in programmatic advertising and ecommerce remained “challenging”.
Chief executive Kevin Li Ying said Future was making “meaningful progress”, building new AI-related revenue streams as publishers grapple with the rise of AI-generated search and zero-click results on Google.
“In the age of AI, our trusted, human-originated and specialist content is more important than ever,” Li Ying said.
The company pointed to growth in products including Future Optic, which helps brands optimise visibility on generative AI platforms, and Signal, its ecommerce platform designed for AI-driven search environments.
The update comes just months after Future acquired digital viral lifestyle publisher SheerLuxe for an initial £39.9m as it attempts to diversify away from Google-dependent traffic and into creator-led media.
SheerLuxe deal mirrors creator economy push
Future said the SheerLuxe acquisition added a fast-growing ‘Google zero’ brand with strong audiences across newsletters and social media platforms.
The business generated revenues of £12.6m in the year to September 2025, and operates with margins of around 40 per cent.
Li Ying said the deal strengthened Future’s position in fashion and lifestyle media while adding new capabilities across creator partnerships and direct audience engagement.
The group has increasingly shifted strategy as traditional search-driven publishing models come under pressure from Google AI Overviews and declining referral traffic.
Last month Future warned that audience numbers had fallen around 20 per cent in the first half after further Google algorithm changes pushed publisher links lower in search rankings.
The company’s shares have slumped sharply over the past four years as investors questioned whether Future could replace weakening legacy magazine revenues with sustainable digital growth.
Go.Compare revenues fell six per cent during the half-year period, reflecting weaker car insurance quote volumes and a difficult home insurance market, although trends improved in the second quarter.
Net debt rose to £314.1m following the SheerLuxe acquisition and buybacks, with the group saying reducing leverage would be a focus in the second half.