Digital Advertising is Up 65 Percent at Time Inc And More From Its Second Quarter 2016 Report Card

TIME INC CEO JOE RIPP

Time Inc's 2016 second quarter results are in and the company maintains the biggest audiences in its history. The company has been in a never ending makeover phase as CEO Joe Ripp is still trying to right the ship two years after it was spun off from TimeWarner.  Here is a statement from Mr. Ripp, followed by some hi-lites:

"We are entering an era where mobility and internet technology will touch every aspect of our lives. At Time Inc., we are positioning ourselves to benefit from the next wave of disruption. We are making progress to transform Time Inc. into a multi-platform, multimedia enterprise; and we are infusing digital and entrepreneurial culture into our day-to-day operations. In July, we announced our most far-reaching realignment program to date. It included very important changes to shed our siloed organizational structure. It enables us to integrate the Company across sales, edit, digital, brand management and native solutions and potentially unlock innovation, scale and synergy. I am confident that our new structure will enable us to seize the many new opportunities ahead.”

-The company Repurchased 2.17 Million Shares During the Second Quarter, and Retired $10 Million of Our Deb

-Revenues decreased $4 million or 1% in the second quarter of 2016 from the year-earlier quarter to $769 million

-Advertising Revenues increased $6 million or 1% in the second quarter of 2016 from the year-earlier quarter to $426 million 

-Digital ad revenues are up 65%

-Mobile Uvs up 29%

-Video UVs up 57%

-Social media is up 37%

-Circulation Revenues decreased $18 million or 7% in the second quarter of 2016 from the year-earlier quarter to $236 million

-Other Revenues, which include marketing and support services provided to third parties, branded book publishing, events, and licensing, increased $8 million or 8% in the second quarter of 2016 from the year-earlier quarter to $107 million

-Operating Expense, which consists of Cost of Revenues and Selling, General and Administrative Expenses ("SG&A"), increased $30 million or 5% to $687 million

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