Aug
04
Time Inc. Revises Expectations Downward, Citing Disruption of Its Reorganization
Posted in: Uncategorized
rippTime Inc. revenue slipped to $769 million in the second quarter, down 1% from the period a year earlier, the publisher said as it reported results on Thursday.
Ad revenue edged up 1% to $426 million as a 65% increase in digital advertising offset a 13% decline in print and other advertising, the company said.
The huge rise in digital ad revenue resulted primarily from Time Inc.’s acqusition of Viant, the parent company of MySpace. Viant offers a “people-based” advertising technology that Time Inc. is positioning as big lift to its digital capabilities. Without the impact of Viant, digital advertising would have increased 10% in the quarter, the company said.
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