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Games media publisher Future shutting down outlets, laying off 170

Thursday, 29th May 2014 23:53 GMT By Catherine Cai

Future, the publisher behind outlets such as Edge, GamesRadar, PC Gamer, and CVG, is going through some hard times. It will be shutting down some of its gaming websites and laying off a large number of staff.

future

The publisher’s cuts come from an inability to turn a profit. According to Gamasutra, the company reported pre-tax losses of £30.6 million for the current fiscal year. This isn’t the first time this year that Future has cut staff. In fact, earlier this month, Future brought cuts down and was consolidating its marketing and business team. Much of Future’s U.S. editorial staff was laid off and much of the company’s business was taken into the publisher’s UK office.

Future is planning on closing down CVG, Edge Online, and the website portion of the Official PlayStation, Official Xbox, and Official Nintendo magazines.

“The streamlining of our consumer strategy — with an increased focus on the consumer technology market and a clear channel-neutral approach — allows for a simplification and standardisation of our digital advertising platforms and opportunities,” said CEO Zillah Byng-Maddick. ”Our revised business model is based on the virtuous circle of engagement in two core content areas: reviews (when consumers are looking to make product purchase decisions and where we can derive ecommerce revenues) and ‘how to’ opportunities (when consumers want to learn more and are prepared to pay us to help them do so, through tutorials, events etc).”

Thanks, Gamasutra

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3 Comments

  1. fearmonkey

    Well thats two websites I go to from time to time going away, sad to see some of these go but Future has never really heavily invested in their websites anyways. They always seemed lacking in design but still had decent content at times.

    #1 7 months ago
  2. Gheritt White

    I’ll be sad to see C&VG go, it’s all that remains of one of the best gaming mags from the ’90s. They should close down some of their magazines, makes no sense for them to have more than one mag per platform as well as a multiformat mag.

    #2 7 months ago
  3. Joe Musashi

    C&VG really went downhill after the Melissa Ravenflame years. ; _ ;

    JM

    #3 7 months ago

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