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09-28-2012, 01:49 AM #1
Publishing Firm Future Made $8 Million in One Year from Newsstand
Future, a U.K. based magazine publisher, is planning on building out its existing digital distribution model, which has already garnered the company about $8 million over the past year. It appears that the success of the company in the digital realm is in great part thanks to Apple’s iTunes Newsstand, the iOS app that allows users to purchase, organize, and store digital publications all in one place.
According to the folks over at PaidContent, Future is one of the first companies to adopt the service when it launched with iOS 5 in 2011 and recently they announced the rise in profits at an interim trading update. Future recently reported that “sales of digital editions on Apple device have passed £5 million ($8 million) in the period since the Apple Newsstand was launched in October 2011.” Among the magazines published by the firm are PC Gamer, popular tech serial T3 and Apple-centric MacLife, the hard copy versions of which have been in print for years. Before the release of Newsstand, Future’s digital presence was limited to web portals TechRadar, BikeRadar and GamesRadar. Future CEO Mark Wood said the following “in March, we were at 12 million (free) container app downloads, had five million people signed up for marketing messages, which is a lot, and way past half a million sales.”
In order to take advantage of Newsstand, Future build FutureFolio, a specialized software suite which aids in the design of interactive magazines, which the company is now trying to license to competitors. Future is obviously not the first or the only company to see significant gains after using Newsstand. Less than one month after the service had launched, Condé Nast reported a 268 percent surge in subscriptions while Popular Science + saw similar growth.
The news shows that the publishing industry is far from dying and is instead just undergoing a drastic change as technology advances.