Future Publishing, one of the biggest publishing houses in the world has just posted considerable losses. Future is responsible for many quality publications such as Edge and the Official UK PlayStation magazine. Last year Future Publishing reported profits of £20 million, but this year they are reporting losses of £2.5 million.
Even though revenues were recently up, profits were obviously not. Finance director Ian Linkins is resigning his post in April. Some belt-tightening could be in order as the video game industry undergoes a transitional ‘next-generation’ leap.
Future Publishing is also losing money in its Internet operations; it is surprising that Future don’t use their experience to make some truly amazing sites. With mags like Arcade going under and dotcom share prices plummeting, Internet based magazines such as Internet Works are facing reduced readership. More people are realising that Internet sites offer up-to-the-minute information rather than weeks old magazine stories.
Future’s American market, on the other hand, is looking up, so it will be interesting to see what this year brings for them.
Even though revenues were recently up, profits were obviously not. Finance director Ian Linkins is resigning his post in April. Some belt-tightening could be in order as the video game industry undergoes a transitional ‘next-generation’ leap.
Future Publishing is also losing money in its Internet operations; it is surprising that Future don’t use their experience to make some truly amazing sites. With mags like Arcade going under and dotcom share prices plummeting, Internet based magazines such as Internet Works are facing reduced readership. More people are realising that Internet sites offer up-to-the-minute information rather than weeks old magazine stories.
Future’s American market, on the other hand, is looking up, so it will be interesting to see what this year brings for them.
Companies:
Future Publishing
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