Feeds

Future in red, not dead

£3.5m losses grow to £59.3m

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Bath-based publisher Future Network has reported pre-tax losses of £59.3m for the year 2000, up from just £3.5m in 1999.

The company was hammered by a slump in computer games magazine market and a downturn in online and new media advertising. It forecasts hefty losses for the first half of 2001.

In February, Future announced its plans to slash 350 jobs and close 20 magazines. The axed titles accounted for £18 million in turnover and losses of £14.7 million in 2000.

Future's big plan to sort out its finances is to sell Internet business mag Business 2.0. Future says the titles revenues were up 341% in 2000 from 1999, but Q4 had been very tough.

The large percentage growth suggests sales haven't been very high at all, and the downturn in new media advertising will have been a good hard kick in the nads for the magazine. Circulation of the twice monthly grew to 350,000.

The company had sales of £254 million in 2000, up 28.6 per cent on 1999's £197.5 million. Future is still dependent on the fortunes of games market, currently in the doldrums because of the late arrival of Sony's PS2 - 35 per cent of its revenues still come from that sector. ®

Related Stories

Future slashes 90 jobs in UK
Games mags in difficulty

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.