Time Inc Experiences Its Highest Rate of Growth Since Spin Off

Overall Revenue Slips One Percent, Digital Ad Revenue Continues to Climb, Newsstand Down 19%

Time Inc's fourth quarter report card is in and CEO Rich Battista is proud of the progress the company has made. Newsstand continues to be a dark spot and will be a huge dark spot for the foreseeable future with revenue down 19%. Subscription revenue is also a dark spot  falling 9%. This earnings report closes out 2016.

Said Rich Battista:

"We are pleased with our progress and achievements during the quarter and our execution against our plan. In 2017, we are well positioned to accelerate our growth across digital and other media. Time Inc. is a unique platform in today’s dynamic media environment. We combine world-renowned content and iconic brands at massive scale with best-in-class targeting, measurement and data capabilities, giving us a tremendous value proposition for both consumers and advertisers. In December, Time Inc. broke into the top ten for the first time in U.S. multi-platform unique digital audience according to comScore. We reached nearly 60% of the total U.S. adult digital audience. In 2016, our digital video experienced explosive growth, up nearly 150% year-over-year to an all-time high for video starts at 4.6 billion."     

Here is a quick summary of Time Inc's fourth quarter earnings report:

• Revenues decreased $10 million or 1% in the fourth quarter of 2016 from the year-earlier quarter to $867 million. For the full year 2016, Revenues decreased $27 million or 1% versus the prior year to $3.08 billion,

• Overall Advertising Revenues increased $25 million or 5% in the fourth quarter of 2016 from the year-earlier quarter to $509 million. For the full year 2016, Advertising revenues increased $57 million or 3% from the prior year to $1.71 billion,

• Circulation Revenues decreased $31 million or 11% in the fourth quarter of 2016 from the year-earlier quarter to $247 million. For the full year 2016, Circulation revenues decreased $99 million or 9% from the prior year to $944 million.

• Digital Advertising Revenue increased 15%. For the full year 2016, digital ad revenue increased 55%

• Subscription Revenue decreased 9%. For the full year 2016 subscription revenue fell 8%

• Newsstand Revenue decreased 19%. For the full year 2016 newsstand revenue fell 16%

[FULL REPORT]




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