Future Half-Year Earnings Highlight 48% Revenue Growth to $541 Million
18 May 2022 - 10:00PM
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 focusWith 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 diversificationFuture’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 FutureConnectors. 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 MooreBroadsheet
Communications for Future Publishing (US)
202-471-0661hugh@broadsheetcomms.com
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