Time Inc.'s Digital Ad Revenue Climbs 12% in Its First Solo Quarter
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Second-quarter advertising revenue at Time Inc., the nation’s largest magazine publisher, increased 3% compared to the second quarter of 2013, the company said Tuesday in its first quarterly earnings announcement since spinning off from Time Warner in June. Growth was driven partly by a 12% increase in digital sales, though digital still represents only a modest fraction of total ad sales and overall revenue.
Time Inc.’s ad revenue during the second quarter was $461 million, with digital revenue totaling $74 million. Print and “other advertising revenues” were $387 million, a 1% increase.
The company’s acquisition last October of American Express Publishing titles including Food & Wine, Travel & Leisure and Departures magazines led to the year-over-year increase in ad sales. If Time Inc. hadn’t bought those magazines, its print and other advertising revenues would have fallen 6%.
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