In some ways Future, is best exemplified by magazine-aggregation players such as Primedia, Cahners Business Information, PTN Publishing/Cygnus Business Media and plenty of others. These companies’ portfolios were sometimes referred to as “cats and dogs,” in a pejorative sense, by M&A firms that struggled to get a handle on their core missions.
Future generated revenue of $500.5 million for its fiscal half year that ended on March 31, an increase of 48% from the $337.0 million in the same period last year, the company announced on Wednesday.
Future’s revenue increase reflects a combination of continued organic growth and contributions from acquisitions, but the bulk of the increase came from acquisitions. Future reported organic growth of 4% in the half, and an average of 13% for the two half-years being compared.
Media-specific organic growth was 5% in the half, Future said, characterizing the growth as “a pleasing performance given the prior-year benefit from COVID (it was up 18% on average for the two half-years). Future also reported strong digital-advertising organic growth of 10%.
“Our strategy is underpinned by our diversified revenues, our global reach and the platform effect we generate,” Future CEO Zillah Byng-Thorne said in the financial release.
“The strength of our specialist, trusted content continues to attract a high value audience, making us a partner of choice for advertisers,” Byng-Thorne continued. “Our newest verticals, including homes, women’s beauty and fashion, and wealth and savings have performed well and generated strong brand awareness."
The Bath, U.K-based Future says it has a U.S.-first mindset, and that focus continues to bear fruit. It projects significant growth potential, aiming to reach one in two online-media users online. It currently reaches one in three adults online in the U.K. and U.S.
That said, its revenue still skews toward the U.K. For the just-completed half, U.K. magazine revenue was $140.5 million, while use magazine revenue was $42.6 million. And as for non-magazine media revenue, the figures were closer, but the U.K. still had the edge: $171.9 million compared to $148.9 million.