Time Inc Experiences Its Highest Rate of Growth Since Spin Off
Overall Revenue Slips One Percent, Digital Ad Revenue Continues to Climb, Newsstand Down 19%
Said Rich Battista:
"We are pleased with our progress and achievements during the quarter and our execution against our plan. In 2017, we are well positioned to accelerate our growth across digital and other media.
Time Inc.is a unique platform in today’s dynamic media environment. We combine world-renowned content and iconic brands at massive scale with best-in-class targeting, measurement and data capabilities, giving us a tremendous value proposition for both consumers and advertisers. In December, Time Inc.broke into the top ten for the first time in U.S. multi-platform unique digital audience according to comScore. We reached nearly 60% of the total U.S. adult digital audience. In 2016, our digital video experienced explosive growth, up nearly 150% year-over-year to an all-time high for video starts at 4.6 billion."
Here is a quick summary of Time Inc's fourth quarter earnings report:
- Revenues decreased
$10 millionor 1% in the fourth quarter of 2016 from the year-earlier quarter to $867 million. For the full year 2016, Revenues decreased $27 millionor 1% versus the prior year to $3.08 billion,
- Overall Advertising Revenues increased
$25 millionor 5% in the fourth quarter of 2016 from the year-earlier quarter to $509 million. For the full year 2016, Advertising revenues increased $57 millionor 3% from the prior year to $1.71 billion,
- Circulation Revenues decreased
$31 millionor 11% in the fourth quarter of 2016 from the year-earlier quarter to $247 million. For the full year 2016, Circulation revenues decreased $99 millionor 9% from the prior year to $944 million. Digital Advertising Revenue increased 15%. For the full year 2016, digital ad revenue increased 55% Subscription Revenue decreased 9%. For the full year 2016 subscription revenue fell 8% Newsstand Revenue decreased 19%. For the full year 2016 newsstand revenue fell 16%
Time Inc Experiences Its Highest Rate of Growth Since Spin Off Reviewed by Editor on Thursday, February 16, 2017 Rating: