Recent results from Future show that the publisher is planning minimum investment in many of its top-selling print titles. 

Future’s full-year results, announced on 7 December 2023, state that the company is “dividing the portfolio into three categories and each category will have specific actions and investment levels” to allow an “increased focus on return on investment”. 

One-hundred-and-fifty magazines, most of them print, have been named as “cash generators”. These titles will see minimal investment and are likely to be sold or otherwise removed from the portfolio. 

Future’s results stated: “These brands operate in markets with more limited opportunity and require little investment. While most of these brands will have declining revenue, we maintain a focus on profitability and conversion of profits to cash.” 

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The other categories are “hero brands”, a set of 12 brands which account for 50% of Future’s revenue, and “halo brands”, which account for another 30%. Many of these are digital publications or services. These 12 “hero brands” include Tech Radar, Country Life, Livingetc, Who What Wear and Marie Claire. 

“Hero brands” will see significant investment, with Future describing them as “the priority for investment in terms of content, consumer experience and sales”. 

The results show counter sales of Future titles dropping in importance, with subscriptions accounting for almost half of Future’s total revenue. 

Read more news and advice about the newspaper and magazines category and click here for the latest ABC circulation figures