Consumer magazine publisher, Future Network, has said that it will be launching at least nine new magazines over the next 12 months and hopes that tapping in to the US action sports sector will help boost group revenues in 2005.
In a pre-close trading update, Future said that it hopes to launch two new US magazines in 2005,
Future Snowboard, which will be aimed at action sports enthusiasts and
Future Music, which has been a success in the UK since 1992.
Also, Future, is hoping to piggy-back on to the success of US magazine Maxim PC by launching a version in Italy, with numerous other magazine launches being considered for the French and British markets.
Future said that the group’s acquisitions in 2003 which include, Computec Media UK and Guitar One continue to perform ahead of plan, helping to boost group revenues by 6% over the eight months to August 2004.
Already, Future has knocked four magazines off its target of nine, with the launch of Hair Style & Beauty, PaperCraft Inspirations, Jetix and Official Duel Masters.
Chief executive, Greg Ingham said: “We are continuing to grow Future by focusing on magazine enhancements, launches and possibly, acquisitions. The launches also illustrate our ability to take a success in one country and launch it in another. Today’s moves in the US are an important part of our strategy of extending into new areas. Action sports is an attractive area for our business.”
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