{"id":18846,"date":"2025-02-05T08:10:08","date_gmt":"2025-02-05T08:10:08","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/south-west\/?p=18846"},"modified":"2025-02-05T08:10:08","modified_gmt":"2025-02-05T08:10:08","slug":"publisher-maintains-growth-strategy-despite-challenging-uk-market","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/south-west\/news\/18846-publisher-maintains-growth-strategy-despite-challenging-uk-market","title":{"rendered":"Publisher maintains growth strategy despite &#8216;challenging&#8217; UK market"},"content":{"rendered":"<p>Specialist media group Future is making cautious progress on its growth acceleration strategy, hampered by a &#8220;challenging&#8221; advertising market in the UK.<\/p>\n<p>Performance in the first four months of its financial year has the Marie Claire and The Week publisher &#8220;on track&#8221; to meet market expectations or revenues being between \u00a3758m-\u00a3785m.<\/p>\n<p>The growth plans have been backed by a two-year, \u00a330m investment programme which has added 100 staff across sales, editorial and back office.<\/p>\n<p>Future\u2019s chief executive Jon Steinberg, who is standing down in March to return home to the USA after two years, said: &#8220;After our return to growth in the second half of last year, our focus for this year is on the continued execution of our Growth Acceleration Strategy.<\/p>\n<p>&#8220;We are pleased with the start to the new financial year and, whilst we remain mindful of the macro backdrop and the ongoing evolution of the media landscape, we are confident about making further progress and delivering a performance in line with market expectations.&#8221;<\/p>\n<div id=\"attachment_18848\" style=\"width: 210px\" class=\"wp-caption alignright\"><img decoding=\"async\" aria-describedby=\"caption-attachment-18848\" class=\"size-medium wp-image-18848\" src=\"https:\/\/www.thebusinessdesk.com\/_files\/images\/feb_25\/Screenshot-2025-02-05-075234-1-e1738742121888-200x300.png\" alt=\"\" width=\"200\" height=\"300\" \/><p id=\"caption-attachment-18848\" class=\"wp-caption-text\">Kevin Li Ying, Future<\/p><\/div>\n<p>Steinberg&#8217;s replacement as chief executive, Kevin Li Ying, is currently EVP of B2C, the group&#8217;s largest division, and previously spent eight years as its chief technology officer.<\/p>\n<p>Li Ying&#8217;s B2C division saw a continuation of the improvement in US digital advertising and eCommerce, with both areas recording year-on-year growth. However it said the market in B2B remains &#8220;mixed&#8221;.<\/p>\n<p>Magazines have remained more resilient, led by premium titles, whilst the UK advertising market continues to be challenging.<\/p>\n<p>Future told shareholders that its \u00a355m share buyback programme announced in December is &#8220;progressing well&#8221; with just under \u00a310m repurchased to date.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New chief executive steps up next month to deliver results from \u00a330m programme<\/p>\n","protected":false},"author":18,"featured_media":1275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120781],"coauthors":[81],"class_list":["post-18846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-bristol-and-bath","tag-featured-story"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Publisher maintains growth strategy despite &#039;challenging&#039; 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