Future Half-Year Earnings Highlight 48% Revenue Growth to $541 Million
Revenue gains were achieved through a combination of organic growth and acquisitions that included Dennis Publishing brands Kiplinger and The Week.
NEW YORK, May 18, 2022 (GLOBE NEWSWIRE) -- Global digital brand powerhouse Future Publishing - home to much-loved brands such as Marie Claire, Tom’s Guide, and CinemaBlend - announced today in its half-year earnings report that revenue was up +48% to $541 million, and operating profit increased +51%. Revenue gains were achieved through a combination of organic growth and acquisitions that included Dennis Publishing brands Kiplinger and The Week. The results build on Future’s long-term track record of growth, which has seen Future’s profit double every two years since 2016.
Digital advertising and US driving growth
Much of Future’s growth is driven by digital ads, particularly in the US with organic growth of 12%. With favorable dynamics of endemic audiences, a strong first party data offering, and video driving this growth. Revenue from media, including digital advertising and eCommerce, reached $346.5 million globally. This growth means the US now comprises 38% of total Future revenue, hitting $206.9 million in H1 2022.
Video focus
With an increased demand for video impressions alongside premium content, Future rolled out video advertising across its top performing ‘Buying Guides’ and ‘Deals’ content in H1 2022. Future used video to tap into high-intent audiences with a ‘ready to buy’ mindset. The success of this is seen in eCommerce, as Future drove more than $1 billion in eCommerce sales in 2021. Future also integrated Video Multiple Ad Playlists (VMAP) capabilities, increasing video inventory availability and contributing to a 40% increase in organic video advertising growth.
Strength in diversification
Future’s impressive growth is a result of its diversified revenue mix. Not only consisting of digital advertising and eCommerce, but also subscriptions and magazine print sales. Subscriptions grew organically by 5%, with titles such as The Week Junior reaching 100,000 subscribers. Future looked to diversify its content in the first half of 2022. Technology and gaming remain at the heart of Future’s strategy, which is evidenced by Future’s technology portfolio staying at #1 for audience reach in Comscore’s Technology News category for the entire half year. Additionally, Future made strides in Women's Lifestyle and Home verticals, becoming a top 10 entity in both Comscore’s Home and Beauty/Fashion categories.
“Our strategy is underpinned by our diversified revenues and our global reach. Through the continued execution of our strategy, we have delivered robust year-over-year growth despite an inflationary environment,” said Zillah Byng-Thorne, CEO of Future. “The strength of our specialist, trusted content continues to attract a high value audience, making us a partner of choice for advertisers.”
With four acquisitions announced since October 2021, Future has invested over $550 million in high-quality acquisitions that include Dennis, WhatCulture.com, and social trend analysis start-up, Waive. The company also announced its intention to acquire LA-based WhoWhatWear last week, which will accelerate US scale and advertising opportunities in the women’s vertical.
“Our US-first mindset continues to bear fruit, and we see vast growth potential as we aim to reach 1 in 2 users online in the US,” Byng-Thorne said. “We are pleased to be on track to deliver another strong full-year of profitable growth despite the wider macroeconomic outlook.”
Future now reaches 1 in 3 adults online in the US – with its reach of the US population increasing from 33% to 35% – and on track to achieve the company’s aim of reaching 1 in 2 adults online. Looking ahead, Future enters H2 with positive momentum and growing audience numbers, which further underpins confidence for the remainder of FY 2022.
About Future
Connectors. Creators. Experience Makers.
Future is a global multi-platform media company and leading digital publisher, with scalable brands and diversified revenue streams. Every month, it connects over 400 million people worldwide with their passions, through expert content, world-class events, and cutting-edge proprietary technology. Every year Future attracts millions of consumers to its brands’ websites, magazines, events, and social spaces. Its factual production company Future Studios specializes in producing amazing content, enjoyed and shared by millions of people worldwide.
Its market-leading portfolio of over 240 brands spans technology, games, TV and entertainment, women’s lifestyle, luxury, wealth, knowledge, music, creative and photography, sports, home interest, and B2B sectors. Brands include: TechRadar, Gamesradar+, Tom’s Guide, CinemaBlend, Marie Claire, Decanter, Kiplinger, The Week, Guitar World, Digital Camera World, and Live Science. For more information visit: www.futureplc.com
Media Contact:
Hugh Moore
Broadsheet Communications for Future Publishing (US)
202-471-0661
[email protected]
