LONDON, January 20, 2016 /PRNewswire/ --
Revenues up by 327 per cent as iconic title benefits from continued investment by IBT Media
IBT Media, the global news organisation that owns Newsweek and the International Business Times, today announced that fourth quarter 2015 marked the first ever profitable period for Newsweek across EMEA, after a year of steady growth under the new owner IBT Media.
Advertising revenues are up by 327 per cent year-on-year last quarter and overall revenue for the same period up by 90 per cent. This was driven by Newsweek's successful three-pronged strategy of increasing print and digital advertising as well as subscriptions across Europe, Middle East and Africa. Online traffic to europe.newsweek.com has also shown an uplift of 250 per cent this month compared to year end 2015.
"By investing in the industry's best editorial staff we are fulfilling a growing demand for excellent journalism, allowing us to increase subscriptions and gain new readers," said Matt McAllester, Newsweek Europe Editor. "Maintaining Newsweek's reputation for high-quality content has enabled us to greatly increase our online and print audiences."
On-going investment from IBT Media has enabled Newsweek to broaden its editorial offering, with the recent increase in newsroom hires and move into video content and production to offer more choice for wider audiences. Newsweek is developing its video content so that it is better integrated within stories, paving the way for further investment in growing its multimedia output in 2016. Investment in mobile content will also form an integral part of Newsweek's strategy over the next 12 months.
With the ability to offer brands a full advertising solution that covers programmatic and direct, display and native, Newsweek's advertising business now accounts for 70 per cent of the title's overall revenue. Advertisers from the luxury, travel, financial and tech sectors are attracted by the profile of the Newsweek reader: readers of the print edition have an average household income of £100,000.
"This is a brilliant result for Newsweek across EMEA and proves our strategy is working," said Dev Pragad, Co-founder and Managing Director at IBT Media for UK and EMEA. "Our winning combination of exceptional editorial and a 360-degree advertising solution gets results for brands. We will be developing our offering further in 2016, which will see even more effective results for our advertising partners. The investment we've made is the key to our growth and a successful year ahead."
About IBT Media
IBT Media is a global digital news organization, delivering news and insight to over 90 million monthly readers around the world. With innovations across its newsrooms and platforms, IBT Media engages a new generation of readers with content that speaks to their interests, analysis that serves their businesses and insight to make sense of a globally connected world. Properties include International Business Times, Newsweek, Medical Daily, Latin Times, iDigitalTimes and Fashion Times. For more information, visit corp.ibt.com.
Contact: Sharon Ezzeldin
SOURCE Newsweek Europe