Future forecasts annual results in line with expectations

by Tristan O'Carroll, Media Week 24-Sep-08, 10:20

LONDON - Future, the special interest publisher, has said its performance during the year to 30 September will be in line with expectations, although it conceded that market conditions "remain tough".

Unveiling a trading update ahead of the publication of its full-year results on 26 November, Future said that despite the challenging ad market, its focus on niche, special-interest areas meant the company continues to prove resilient.

It added that its strategy remains on track, with a focus on ensuring it operates profitable titles and on the progression of its digital strategy.

Separately, Future announced that it has signed an agreement with Sony Computer Entertainment UK to create an on-console, weekly digital magazine, available exclusively through the PlayStationNetwork.

The digital magazine will enable gamers in the UK to download interactive, high-definition editorial content directly onto their PlayStation 3 consoles from the PlayStation Network.

The weekly product will be available to UK PlayStation 3 owners in early 2009 and is expected to subsequently roll out to other European territories.

In June, Future announced that it posted a 1% revenue rise during the nine months to 30 June, boosted by a 4% rise in its advertising revenue.

The publisher said third-quarter revenue expansion of 5% reflected a 2% growth in circulation revenue and a 6% growth in advertising revenue.

Advertising revenue for the nine-month period to 30 June increased by 4%, while its circulation revenue was flat. A 39% increase in online advertising revenue was offset by a 2% reduction in print advertising revenue.