Big Changes at Future Publishing
He continues: "These actions also mean that we can accelerate our transition to a digital business model. Instead of seeing our business constrained by geography and defined by separately focussed U.K. and U.S. operations, we will now sell our entire range of high-quality content into the borderless digital markets opening up worldwide."
Future's digital revenue is on the rise, up 31 percent overall (36 percent in the U.K. and 25 percent in the U.S.) but currently making up only 11 percent of total revenue, according to the report. The company has moved aggressively into tablet publishing, launching over 100 digital titles and seeing six million app downloads on the Apple Newsstand in its first month.
"Future's success on the Apple Newsstand ... has demonstrated our ability to develop and deliver digital products at high speed. It also underlines the global appeal of our content," Wood said in the statement.
He said Future's previous silo structure meant the company was never able to fully capitalize on the broad appeal of its brands. The previous structure's shortcomings were apparent, he said, in the face of data showing "nearly a third" of the 7 million unique monthly visitors to its U.K. website TechRadar were from the U.S. "We now plan to roll out a U.S.-customised version of TechRadar as a high priority so that we can monetise that interest," he said.
The company also indicated last week its management restructuring in the U.S. was not complete. It was announced today that Rachelle Considine, formerly vice president of sales and marketing for Future U.S., has been promoted to to chief operating officer.
"We're confident that with her outstanding team-building and commercial expertise she will provide the leadership needed to align our U.S. and U.K. operations and enable Future to develop rapidly as a leading digital publisher both online and on tablets in the U.S.," Wood said in a press release.