What was that noise? A huge collective sigh of relief perhaps, as Britain’s magazine industry heard the news that media group Future had passed a major industry milestone. The group announced this week that it had posted enough digital revenues in the last quarter of 2011 to compensate for print revenue falls in the same period. UK digital circulation and advertising revenue grew 51 percent year on year, due mainly to Future’s early entry into the Apple Newsstand. The group was amongst the first publishers in the Newsstand, releasing 65 titles with the service’s launch in October.
The launch of the Apple Newsstand gave publishers a first glimpse of the scale that was possible with digital. paidContent recently reported that in the month after the Newsstand was launched the free container apps for Future’s tablet editions were downloaded nearly 10 million times, generating 75,000 subscriptions. “We are starting to see a significant change in the shape of the business as our digital innovation enables us to reach entirely new consumers in global digital markets,” said Future CEO Mark Wood in an Interim Management Statement.