Earnings: Emap Digital Revenue Up 35 Percent, Otherwise Weak

UK magazine publisher Emap reported its 2006/07 annual revenue from digital media is up 35 percent at £127 million ($250 million). “The recently launched B2C websites serving the golf and motor biking communities have got off to an encouraging start and [the company] is excited by the prospects for its recent acquisition Yospace”, a statement reads. Following the negative trend of the last couple of years (the publisher closed pop music mag Smash Hits after 28 years last year), Emap said it expects “existing difficult trading conditions in consumer media markets” to continue next year, with weak forecasts for consumer magazines (its core business), recruitment advertising and radio. Overall revenue growth is expected to be three percent, with underlying growth down two percent. It says the priority is to target “faster-growth” platforms, and it aims to make savings of £20 million ($39 million) next year – most likely starting by offloading its Irish radio businesses, according to Bloomberg.
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