Magazine publisher Future has seen online ad revenues increase by 66 per cent during the six months to March 31st this year.
Reporting pre-tax profits of £8.6 million, compared with a loss of £1.6m last year, the publisher said that online ads now accounted for 13 per cent of ad revenues overall.
The increase in profits, which is thought to have been the result of senior appointments and higher investment in its online division, was delivered in spite of first half revenues slipping from £107m last to £96.3m.
The alliterative Stevie Spring, chief executive of Future told MediaGuardian that no-one should “write off magazines,” despite the growth of online revenues.
“There are some things that you want to read on the bog, in the bath, in bed … and there are some things where you just want a quick fact or just want a review or want to add your view to an online forum,” she said.
UPDATE: Seb Bishop, president of pay for search network Mviva (previously espotting.com) is joining Future as independent non-executive director.
Roger Parry, Future’s chairman said Seb’s, “creative background, internet business experience and Anglo-American focus are a perfect fit for our new strategy.”
Seb is also chairman of Steak Media Limited, a UK search engine marketing agency and sits on the board of Adjug Limited, an online advertising exchange.