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Media
Future boss upbeat despite profit fall
By CMU Editorial | Published on Monday 23 May 2011
Although profits are down year on year, the boss of Future Publishing, which publishes Metal Hammer and Classic Rock among many other things, is seemingly upbeat because, for the first time, the growth of digital revenues have exceeded the decline in print ad income.
Stevie Spring told The Guardian: “This is the tipping point for us. Seriously, to be able to stand up and say when print revenues – especially advertising – are in further decline [that] online grew faster … that is to us a very big story”.
Spring adds that the turning point for her business was the arrival of the iPad and the growth of smartphone apps, both of which are reinventing a previously revenue-lite digital publishing arena. Future now has 60 iPad editions of its magazines and 20 apps, and digital editions of its titles are now bring in more than £100,000 a month.
