Future Publishing’s revenues fell in its latest quarterly financials, with games magazines hit hardest.
But the firm is optimistic that it can benefit from increased consumer confidence post-recession.
In a trading statement issued today for the three months ending December 31st, the firm said that its special-interest portfolio had protected it from ‘the worst of the media recession’.
Total revenue for the quarter fell by 12 per cent to 36m.
It seems much of that was due to ‘a particularly challenging games market’. Future pointed out there were 40 per cent less top tier games released in Q4 – while it said its technology, music, movies, sports, crafts and digital creative portfolio remained robust.
The firm also highlighted the success of its new World of Warcraft magazine, which sold subs at 30 per cent above forecast and helped boost Future’s customer publishing division.
While the firm warned that it expects the market to remain challenging for the rest of the year, CEO Stevie Spring said she was confident Future has what it takes to cut through.
"We expected the first quarter to be tough, and that has proven to be the case particularly in our Games segment," she said.
"We expect trading to remain under pressure throughout 2010, so we are managing the business appropriately, while also ensuring our strategy remains on track.
"However, there have been some very robust performances throughout the business and I remain confident that Future is as well positioned as it can be to benefit from any economic recovery."