Time Inc. Digital Revenues Increase By $20 Million; Online Mag Strategy Rests Heavily On Video
By David Kaplan - Thu 01 May 2008 03:00 PM PST
Time Inc. digital revenues grew $20 million year-over-year, thanks mainly to the interactive efforts of Sports Illustrated and CNNMoney, Folio reported. Speaking at the Time Inc. Digital Showcase, EVP John Squires said that digital revenue at those two properties currently comprises about 15- and 20 percent of their total respective revenue. As Time Warner (NYSE: TWX) CEO Jeff Bewkes pointed out during the company’s Q1 investors conference call that the growth on the digital side was still not enough to offset losses on the print side. Overall, Time Inc.’s Q1 revenue came in flat at $1.045 billion.
-- Banking on video: Video has become a large part of the division’s digital strategy. Aside from the partnership announced last month with corporate sibling Warner Brothers TV Group, which will create a new website and video programming for Time Inc. title Essence, the company is pointing to greater usage among its audience. CNNMoney, for example, claims to have just about reached 19 million video streams per month, compared to an average of 1 million monthly in 2007. InStyle.com’s monthly video streams have grown to 600,000 from 70,000 in February as it preps its own revamped video channel in Q2.
Posted in: Advertising, Companies, Time Warner, Time Inc., Media, Magazines
