Tue, Jan 27, 2009 | 12:58 GMT
Future blames “tough conditions” for fiscal end of 08 though still up Y-o-Y
Future plc (Official PlayStation Mag, among many others) has blamed “tough conditions at the newstands” in lieu of a fairly tepid trading update for the three months to December 31, 2008.
The company said its games publications had a hard time due to what it calls the decline of PC gaming and the “very tough” US advertising climate, says MCV.
The company did however, reveal that revenue was up 1% compared with the previous year.
“Our focus this year is on guiding our business effectively through the uncharted waters of the current macroeconomic environment and ensuring we remain on course to deliver sustainable growth in the mid-term,” said Future chief exec Stevie Spring.
“While of course we’re not immune to current challenges, we’re mitigating these through the active management of our portfolio and through building in greater cost flexibility. We remain confident that we’re in the best shape we can be to deal with whatever challenges lie ahead and are on track to deliver against expectations for the full year.”
By Mike Bowden
8 comments
#1
Blerk
27/01/09, 11:10 am
Edge’s ABCs show it only sells just over 30,000 copies a month. It’s hard to imagine how it even pays for the staff on that kind of circulation. I do wonder quite how long it can continue as a paper mag on those kinds of figures.
#2
Zorg
27/01/09, 11:20 am
Edge makes money from ads, plus however much Sony paid to have that Killzone 2 holographic cover stuck on OPM will have helped pay the publishers’ mobile phone bills this month.
#3
Blerk
27/01/09, 11:24 am
Edge has relatively few ads compared to your average ‘official’ rag, though.
#4
Tiger Walts
27/01/09, 11:24 am
Maybe they shouldn’t have fired the proof-readers…
aaaand it’s fixed
#5
Zorg
27/01/09, 11:27 am
Oh. It was rammed full of Aardvark Swift job ads and offers of unique positions at Rare last time I borrowed a copy off someone to leaf through.
#6
Ari
27/01/09, 1:19 pm
Yes, it’s hard to imagine how any magazine could survive on £3 – £4.50 a mag x 30,000 x 13 issues a year…
#7
Blerk
27/01/09, 1:37 pm
I think you underestimate just how many people are involved in producing a magazine. Writers, designers, editors, publishers, typesetters, printers, distributors. And that’s before you’ve even gotten to the costs of the materials.
#8
Tiger Walts
27/01/09, 1:48 pm
Materials don’t cost too much, it’s the plates that cost a lot. A full colour setup at the DPI used by Edge would cost a couple of grand before you even print a single copy.