Online Journalism News

Emap turns a digital profit

Publishing giant Emap has announced a profit for key digital brands, according to end-of-year figures released this week.

Web sites for titles including Kerrang and Smash Hits - which celebrated its 25th birthday in March - helped the company record an operating profit of £3 million in the financial year ending March 2003.

Emap successfully reduced its £35 million costs by around half to £16m; this combined with sales of £19 million to nudge the company into profitability.

Emap also had a successful year with its radio and television divisions, earning £22 million from music TV channels and continuing to expand radio brands. Emap is now the largest commercial digital radio operator.

The company has announced that it will no longer breakdown financial performance for individual areas of its business, meaning that future figures for web brands will be merged with all other digital ventures.

In 2001 the company abandoned Emap Digital, its dedicated online publishing division, after an investment of several million pounds.

Sources:
http://www.paidcontent.org/pc/arch/2003_05_28.shtml#001897
http://www.netimperative.com/cmn/viewdoc.jsp?cat=news&docid=BEP1_News_0000053050

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emap | web brands | digital radio operator |

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