The decline in print media is underlined by a quote from David Levin, chief executive of the business-to-business giant United Business Media, who said: “We are not in anyway fixated against print but the trend in revenues is against it.” (via Guardian)
UBM‘s B2B magazines include Music Week, Travel Trade Gazette and Farmers’ Guardian in the UK. In the US it is the largest B2B media business concentrating on global technology industry. The group also includes PR Newswire and a string of specialist websites as well as exhibitions.
The first half statement issued yesterday says: “We continue to see some customers allocating more of their spend towards online and events. Print performance is in line with established trends, with volumes trending down.”
In a period of acquisitions and disposals the group’s revenue was up by 25% to Â£393.3 million while operating profit was up by a similar percentage at Â£82.3 million. Turnover on print shrank by 4%.