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Time Inc's Revenue Is Down 3 Percent But Digital, Video and Social Are Up

Time Inc's third quarter report card is in and its more of the same, specifically on the print side of things. However, on the digital, social media and Video side, everything's golden. Here are the highlights.

First a statement from CEO Rich Battista:
"As we continue our aggressive transformation to a digital-first company, I am pleased with the strong growth of our digital advertising revenues and digital audiences in the third quarter. The integration of Viant, our proprietary targeting and data platform, into the overall Time Inc. go-to-market approach is bringing new, unique capabilities to our advertising partners, and beginning to yield incremental revenue across the portfolio. Our native advertising business, through The Foundry, is experiencing rapid growth. We now have a more compelling, exciting and differentiated set of solutions for marketers, which combine our premium content and large-scale audiences with our unique data and people-based targeting capabilities. The recent realignment of our ad sales and editorial operations will allow us to move with more speed, agility and focus, while better leveraging our major audience scale. I see opportunity to unlock significant value through our portfolio of assets despite the disruption going on in media and advertising.”     
-Overall revenue is down $23 million or 3% thanks to continued slides in print ad and circulation revenues

-Advertising revenue is up 5% or $19 million thanks to digital ad revenue and the acquisition of  Viant

-Circulation revenue nose dived 15% due to consumers choosing digital over print and lower domestic subscription revenues and international newsstand sales

-Other revenue sources for the company also dipped 4%, thanks to low interest in the company's branded book publishing.

-Video UVs jumped 38%. Video starts surpassed 1 billion

-Social media audiences are up 45%


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Time Inc's Revenue Is Down 3 Percent But Digital, Video and Social Are Up Reviewed by Editor on Thursday, November 03, 2016 Rating: 5
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