Future reports sales of digital editions on Newsstand of more than £6 million since October last yearCredit: Image by Sean MacEntee on Flickr. Some rights reserved
Future Publishing has reported a 30 per cent growth in digital revenues, boosted in part by the Apple Newsstand platform on which it has so far recorded sales of more than £6 million since its launch in October last year.
In preliminary results for the year ending 30 September, published today, Future reported digital revenues of £20.6 million, as well as digital edition sales on tablet devices of $1 million gross a month.
In Audit Bureau of Circulation consumer magazine results published in August, Future's technology gadget magazine T3 recorded the highest digital circulation of more than 17,000 downloads of its tablet edition issues in the first half of the year.
And earlier this year Future also received the 'launch of the year' award from the Association of Online Publishers for its "bold investment" in magazine copies on Apple Newsstand. It was also named 'digital publisher of the year' in the consumer category at the awards for the second year running.
In its financial report today Future reported that digital advertising is now said to equate to 44 per cent of the group's total advertising, adding that the publisher "has digital know-how in its DNA".
"We build traffic using social media, advanced search engine management skills and the use of data analytics to allow modification of content in real time."
Chief executive Mark Wood added: "This has been a year of substantial progress for Future and the group is now well positioned to grow and diversify revenues as a global digital business.
"Our US operations have been restructured and are heading for profit in 2013. We are a leading publisher in tablet markets and our online audience has grown by 70 per cent to more than 50 million unique users a month.
"These advances are opening new opportunities and we will accelerate Future's digital transformation in the year ahead."
Overall statutory group revenue dropped to £123.5 million from £141.7 million, a fall of 13 per cent, but the company reported a pre-tax profit of £1.1 million compared to a pre-tax loss of £18 million last year.
Yesterday Future announced the launch of a new weekly iPad title called 'tech.'.
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