Ziff Davis Q2 Print Revenue Down 31 Percent, Digital Revenue Up 14 Percent
Last week, New York-based Ziff Davis Holdings Inc.—an integrated media company serving the technology and video-game markets—reported the results for its second quarter, which ended on June 30. Ziff Davis Holdings is the parent company of Ziff Davis Media Inc., which publishes PC Magazine, EGM and Games for Windows: The Official Magazine.
The company reported that revenues from its ongoing business totaled $16.5 million for the quarter, which was down $6.6 million (29 percent) from the previous year. It also announced that revenues from its print publications (excluding the effect of closed publications) dropped by 31 percent compared to the previous year. However, digital revenues increased 14 percent from the prior year.
“Over the last six years, we have successfully transformed our operating business by migrating our content and revenues to digital platforms,” says Jason Young, chief executive officer, Ziff Davis Holdings Inc. “I’m pleased to note that we are enjoying faster-than-market growth in our two core digital segments, Consumer/Small Business and Game. We look to accelerate our growth even further in these segments. I’m very confident in our prospects, our competitive edge and, most of all, our people.”