Newsweek becomes profitable in EMEA
Advertising revenues were up 327 per cent year-on-year in Q4 2015, according to the company, and overall revenue for the same period had risen by 90 per cent. It says the result has been driven by Newsweek’s “three-pronged strategy” of increasing print and digital advertising as well as subscriptions across Europe, Middle East and Africa. In addition, IBT has reported traffic to europe.newsweek.com showing an uplift of 250 per cent this month compared to year-end 2015.
IBT says ongoing investment has enabled Newsweek to broaden its editorial offering, with the recent increase in newsroom hires and move into video content and production to offer more choice for wider audiences. IBT also says investment in mobile content will form an integral part of the brand’s strategy over the next 12 months.
Newsweek’s advertising business now accounts for 70 per cent of the title’s overall revenue.
“This is a brilliant result for Newsweek across EMEA and proves our strategy is working,” said Dev Pragad, co-founder and managing director at IBT Media for UK and EMEA. “Our winning combination of exceptional editorial and a 360-degree advertising solution gets results for brands. We will be developing our offering further in 2016, which will see even more effective results for our advertising partners. The investment we’ve made is the key to our growth and a successful year ahead.”
Earlier this week, the company announced the appointment of ex-Hearst exec Greg Witham as its new COO UK/EMEA.
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