Future plc

Last updated

Future plc
Company type Public
Industrymagazine and internet publishing
Founded1985;39 years ago (1985)
Founder Chris Anderson
Headquarters Bath, Somerset, England
Key people
RevenueDecrease2.svg £788.9 million (2023) [1]
Decrease2.svg £174.5 million (2023) [1]
Decrease2.svg £113.4 million (2023) [1]
Number of employees
2,920 (2023) [1]
Subsidiaries
Website futureplc.com OOjs UI icon edit-ltr-progressive.svg
Chris Anderson in 2007 Chris Anderson 2007 (cropped more).jpg
Chris Anderson in 2007
Company office in Bath Future office Bath.jpg
Company office in Bath

Future plc is a British publishing company. It was started in 1985 by Chris Anderson.

Contents

Among its titles are Country Life , Homes and Gardens , Decanter , Marie Claire , and The Week . Zillah Byng-Thorne was chief executive officer from 2014 to 2023, when she was replaced by Jon Steinberg.

History

1985–2012

The company was founded by Chris Anderson as Future Publishing in Somerton, Somerset, England, with the sole magazine Amstrad Action in 1985. [2] An early innovation was the inclusion of free software on magazine covers. [2] It acquired GP Publications so establishing Future US in 1994. [3]

Anderson sold the company to Pearson plc for £52.7m in 1994, but bought it back in 1998, for £142 million. [2] The company was floated on the London Stock Exchange in 1999. [4] Anderson left the company in 2001. [5]

In 2004 the company was accused of corruption when it published positive reviews for the video game Driver 3 in two of its owned magazines, Xbox World and PSM2 . [6]

2012–2015

Future published the official magazines for the consoles of all three major games console manufacturers (Microsoft, Nintendo, and Sony); however PlayStation: The Official Magazine ceased publishing in November 2012, and Official Nintendo Magazine ceased publishing in October 2014. [7] [8]

The chief executive and finance director both resigned at short notice after a profit warning in October 2011. It was noted that a re-structuring would be necessary as the company moved to a digital model. [9]

Future announced it would cut 55 jobs from its UK operation as part of a restructuring to adapt "more effectively to the company's rapid transition to a primarily digital business model." [10] The company announced in March 2014 that it would close all of its U.S.-based print publications and shift U.S. print support functions such as consumer marketing, production and editorial leadership for Future's international print brands to the UK. [11] Later in 2014, Future sold its sport and craft titles to Immediate Media, and its auto titles to Kelsey Media. [12]

In April 2014 Zillah Byng-Thorne, then finance director, was appointed chief executive, replacing Mark Wood, who had been in the position since 2011. [11]

2016–2021

In 2018, Future made further major acquisitions. It bought the What Hi-Fi? , FourFourTwo,Practical Caravan and Practical Motorhome brands from Haymarket and it acquired NewBay Media, publisher of numerous broadcast, professional video, and systems integration trade titles, as well as several consumer music magazines. [13] This acquisition returned most of the U.S. consumer music magazines to Future, with the exception of Revolver which had been sold to Project Group M LLC in 2017. [14]

It bought the Purch Group for $132m by September 2018, [15] [16] and in February 2019 bought Mobile Nations including Android Central, iMore, Windows Central and Thrifter for $115 million. [17] [18] Future also acquired Procycling and Cyclingnews.com from Immediate Media. [19] In July 2019 the company bought SmartBrief, a digital media publisher, for an initial sum of $45 million. [20]

In November 2019 the company bought Barcroft Studios for £23.5 million in a combination of cash and shares. [21] It renamed it Future Studios and announced the launch of "Future Originals", an anthology gaming series, a factual series focusing on the paranormal, and a new true crime show, in partnership with Marie Claire. [22]

In April 2020 it acquired TI Media, with 41 brands for £140 million, [23] and, in November 2020, it agreed a £594m takeover of GoCo plc, known for its Gocompare.com price comparison website. [24] In August 2021, it acquired another 12 magazines for £300 million. [25]

2022–present

The company was criticised in February 2022 for the size of the remuneration package being offered to Zillah Byng-Thorne, the chief executive. It was noted that she could receive £40 million if the company performs well. [26]

Byng-Thorne resigned with effect from 3 April 2023 and was replaced as chief executive by Jon Steinberg. [27]

In August 2024, the company announced that its American trade papers Broadcasting & Cable and Multichannel News [28] would be closing after more than 90 years, with the main title Broadcasting having been first published in 1931 and the merged title Multichannel News dating from 1980. [29] In October 2024, the company closed a number of consumer titles in the United Kingdom, including Play, All About Space, Total 911 and 3D World, with the monthly movie magazine Total Film [30] [31] ceasing publication after 27 years. [32]

Organisation

In addition to media and magazines, the company has two other businesses:

Brands

Future's portfolio of brands includes TechRadar , PC Gamer , Tom's Guide , Tom's Hardware , Marie Claire , GamesRadar+ , All About Space , How it Works, CinemaBlend, Android Central, IT Pro, iMore,BikePerfect, Windows Central, Chat and the website goodtoknow.co.uk. [35] [36] [37]

Related Research Articles

<span class="mw-page-title-main">Taylor & Francis</span> Commercial publishing group

Taylor & Francis Group is an international company originating in England that publishes books and academic journals. Its parts include Taylor & Francis, CRC Press, Routledge, F1000 Research and Dovepress. It is a division of Informa plc, a United Kingdom-based publisher and conference company.

<span class="mw-page-title-main">UBM plc</span> UK-based media company

UBM plc was a British business-to-business (B2B) events organiser headquartered in London, England, before its acquisition by Informa in 2018. It had a long history as a multinational media company. Its main focus was on B2B events, but its principal operations included live media and business-to-business communications, marketing services and data provision, and it principally served the technology, healthcare, trade and transport, ingredients and fashion industries. UBM was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index.

<i>AnandTech</i> Defunct online computer hardware magazine owned by Future plc

AnandTech was an online computer hardware magazine owned by Future plc. It was founded in April 1997 by then-14-year-old Anand Lal Shimpi, who served as CEO and editor-in-chief until August 30, 2014, with Ryan Smith replacing him as editor-in-chief. The web site was a source of hardware reviews for off-the-shelf components and exhaustive benchmarking, targeted towards computer-building enthusiasts, but later expanded to cover mobile devices such as smartphones and tablets.

<span class="mw-page-title-main">Pearson plc</span> British multinational publishing and education company

Pearson plc is a multinational corporation, headquartered in the UK, focused on educational publishing and services.

<i>Whats on TV</i> British magazine

What's on TV is a weekly television listings magazine published by Future PLC.

<span class="mw-page-title-main">Frontier Developments</span> British video game studio (founded 1994)

Frontier Developments plc. is a British video game developer founded by David Braben in January 1994 and based at the Cambridge Science Park in Cambridge, England. Frontier develops management simulators Planet Coaster and Planet Zoo, and has produced several games in David Braben's Elite series, including Elite Dangerous. The company takes its name from the earliest titles in the Elite series with which it was involved, a port of Frontier: Elite II and development of Frontier: First Encounters. In 2013, the company was listed on the AIM segment of the London Stock Exchange. It published third-party games under the Frontier Foundry label between 2019 and 2022.

<span class="mw-page-title-main">Dennis Publishing</span> British magazine publisher

Dennis Publishing Ltd. was a British publisher. It was founded in 1973 by Felix Dennis. Its first publication was a kung-fu magazine. Most of its titles now belong to Future plc.

<span class="mw-page-title-main">TI Media</span> British magazine publisher

TI Media Ltd. was a consumer magazine and digital publisher in the United Kingdom, with a portfolio selling over 350 million copies each year. Most of its titles now belong to Future plc.

Tom's Hardware is an online publication owned by Future plc and focused on technology. It was founded in 1996 by Thomas Pabst. It provides articles, news, price comparisons, videos and reviews on computer hardware and high technology. The site features coverage on CPUs, motherboards, RAM, PC cases, graphic cards, display technology, power supplies and displays, storage, smartphones, tablets, gaming, consoles, and computer peripherals.

<span class="mw-page-title-main">Future US</span> American media company, founded 1994

Future US, Inc. is an American media corporation specializing in targeted magazines and websites in the video games, music, and technology markets. Headquartered in New York City, the corporation has offices in: Alexandria, Virginia; Minneapolis, Minnesota; and Washington, D.C. Future US is owned by parent company, Future plc, a specialist media company based in Bath, Somerset, England.

<span class="mw-page-title-main">Space.com</span> Space and astronomy news website

Space.com is an online publication focused on space exploration, astronomy, skywatching and entertainment, with editorial teams based in the United States and United Kingdom. Launched on July 20, 1999, the website offers live coverage of space missions, astronomical discoveries and reviews about skywatching telescopes, binoculars and sci-fi entertainment gear.

<i>Broadcasting & Cable</i> American television industry news website

Broadcasting & Cable is a telecommunications industry news website and formerly a monthly trade magazine published by Future US. Founded in 1931 as Broadcasting, subsequent mergers, acquisitions and industry evolution saw a series of name changes, including Broadcasting and Broadcast Advertising, and Broadcasting-Telecasting, before adopting its current name in 1993. B&C, which was published biweekly until January 1941, and weekly thereafter, covers the business of television in the U.S.—programming, advertising, regulation, technology, finance, and news. In addition to the newsweekly, B&C operates a comprehensive website that provides a roadmap for readers in an industry that is in constant flux due to shifts in technology, culture and legislation, and offers a forum for industry debate and criticism. On August 6, 2024, Future announced that the magazine will cease publication after its September 2024 issue, and switch to a digital-only format on sister website Next TV.

Colin Morrison is a British publishing executive, who is the chairman, non-executive director and consultant of several media and digital companies in Europe and Asia. He publishes the newsletter Flashes & Flames: The Global Media Weekly, which he originally launched as a blog in 2012. He is a senior advisor to the New York media investment bank JEGI and is on the advisory board of the Royal National Children's SpringBoard Foundation.

Team17 Group plc is a British video game developer and publisher based in Wakefield, England. The venture was created in December 1990 through the merger of British publisher 17-Bit Software and Swedish developer Team 7. At the time, the two companies consisted of and were led by Michael Robinson, Martyn Brown and Debbie Bestwick, and Andreas Tadic, Rico Holmes and Peter Tuleby, respectively. Bestwick later became Team17's chief executive officer until 1 January 2024. After their first game, Full Contact (1991) for the Amiga, the studio followed up with multiple number-one releases on that platform and saw major success with Andy Davidson's Worms in 1995, the resulting franchise of which still remains as the company's primary development output, having developed over 20 entries in it.

<span class="mw-page-title-main">Immediate Media Company</span> British publishing house

Immediate Media Company Limited is a British multinational publishing house that produces a wide range of magazine titles, including Radio Times, BBC Top Gear, BBC Good Food and many others. In H1 2018, the company's titles reported a combined ABC circulation of 1.59 million, including 1.1M active subscribers. In 2018 it reported selling 70+ million magazines.

Purch Group, Inc. was a New York City-based digital media company. Originally established in 2003 as TechMedia Network, Inc., it was positioned as a "portfolio of brands and products focused on purchasing decisions"—consisting primarily of websites focusing on reviews of consumer electronics, positioned to marketers as outlets to "directly engage with buyers in the right place, at the right time".

<span class="mw-page-title-main">Cyclingnews.com</span> Website providing cycling news

Cyclingnews.com is a website providing cycling news, race results, bike-related reviews and buying advice owned by Future.

<span class="mw-page-title-main">National World</span> British news publishing company

National World plc is a British multimedia company based in Leeds, England. The company was founded and listed on the London Stock Exchange in September 2019 as a media takeover vehicle. In January 2021, it acquired JPIMedia for £10.2 million.

Barcroft TV is a British news agency. Sam Barcroft is the founder of the company. Barcroft Media founded itself as an alternative media news agency for weird and unusual news stories. British broadcaster Channel 4 had a controlling stake in Barcroft Media until November 2019 when it was sold to Total Film/SFX publisher Future plc. In 2020, Barcroft TV changed their channel name on YouTube to "truly", with a television channel of the same name due to be launched on the European version of Pluto TV in July 2020. Barcroft also expanded their truly brand to other online web online platforms, including Rumble.

Zillah Byng-Thorne is a British businesswoman, and chief executive of Dignity Funerals. She is the former CEO of Future plc, an FTSE 250 British media company, since April 2014. She was described by The Guardian in September 2022 as "one of the UK’s most successful media executives."

References

  1. 1 2 3 4 "Annual Report 2023" (PDF). Future plc. Retrieved 12 February 2024.
  2. 1 2 3 Nicholas, Ruth (11 July 1999). "Profile: Chris Anderson: Media with passion". The Independent. London. Archived from the original on 14 January 2013.
  3. ↑ Cox, Howard; Mowatt, Simon (2014). Revolutions from Grub Street: A History of Magazine Publishing in Britain. Oxford University Press. p. 220. ISBN   978-0199601639. Archived from the original on 16 August 2023. Retrieved 11 November 2020.
  4. ↑ "Can new Future CEO end 15 years of boom & bust?". Flashes and Flames. 6 April 2014. Archived from the original on 15 March 2023. Retrieved 17 June 2019.
  5. ↑ Walters, Helen (18 February 2010). "TED's Not Dead, But It Is Aging: The annual conference tries to reach out to a new generation, awkwardly". Business Week . Archived from the original on 21 February 2010. Retrieved 16 March 2010.
  6. ↑ Lui, Spandas (30 March 2010). "A history of gaming's biggest scandals". PC World. Archived from the original on 30 June 2016. Retrieved 4 May 2023.
  7. ↑ Santos, Alexis (7 November 2012). "PlayStation: The Official Magazine being shuttered, will say farewell with holiday issue". Engadget (Joystiq). Archived from the original on 22 January 2013. Retrieved 6 December 2012.
  8. ↑ Simberg, Nick (28 November 2009). "Another blow to print journalism: Future Publishing profits fall 61%". Gamer Limit. Archived from the original on 5 February 2010.
  9. ↑ "Future CEO and FD resign, names replacements". Reuters. 27 October 2011. Archived from the original on 23 March 2023. Retrieved 23 March 2023.
  10. ↑ Mark Sweney (3 September 2013). "Future Publishing to cut 55 jobs". The Guardian. Archived from the original on 9 December 2018. Retrieved 9 December 2018.
  11. 1 2 Future US streamlined to focus on digital Archived 8 April 2014 at the Wayback Machine , RNS Number : 3903D, Future PLC, 28 March 2014
  12. ↑ Sweney, Mark (21 November 2014). "Future Publishing cuts more than 400 jobs as part of restructure". The Guardian. Archived from the original on 9 December 2018. Retrieved 21 December 2014.
  13. ↑ Tom Butts (4 April 2018). "Future Publishing Acquires US Content Business NewBay Media". TV Technology. Archived from the original on 9 December 2018. Retrieved 4 April 2018.
  14. ↑ "REVOLVER Magazine Sold To Digital Media Company PROJECT M GROUP; Brand Relaunch Planned For This Fall". Blabbermouth.net . 1 May 2017. Archived from the original on 7 March 2024. Retrieved 10 September 2024.
  15. ↑ "Purch sells B2C imprints to global specialist media publisher Future in $132m deal". The Drum. Archived from the original on 9 December 2018. Retrieved 29 July 2018.
  16. ↑ "Future buys Purch to boost US revenue". Digiday . 18 July 2018. Archived from the original on 9 December 2018. Retrieved 29 July 2018.
  17. ↑ "Future : Acquisition of Mobile Nations". MarketScreener. 1 March 2019. Archived from the original on 8 November 2020. Retrieved 10 September 2024.
  18. ↑ "Accelerates Mobile Nations earnout payment". otp.investis.com. Archived from the original on 11 July 2023. Retrieved 20 October 2019.
  19. ↑ "Back to Future: Immediate sells CyclingNews and Procycling to Future plc, their previous owner". Bicycle Retailer and Industry News. Archived from the original on 21 March 2023. Retrieved 16 November 2019.
  20. ↑ "Acquisition of SmartBrief". otp.investis.com. Archived from the original on 11 July 2023. Retrieved 20 October 2019.
  21. ↑ "Barcroft Studios bought by Future plc for £23.5m". Televisual. 15 November 2019. Archived from the original on 29 June 2022. Retrieved 10 September 2024.
  22. ↑ "True Crime Series 'On the Record with Marie Claire' at Future Studios". Variety. Archived from the original on 26 June 2023. Retrieved 22 March 2023.
  23. ↑ "Proposed Acquisition of TI Media for £140 million". otp.investis.com. 30 October 2019. Archived from the original on 11 July 2023. Retrieved 31 October 2019.
  24. ↑ Sweney, Mark (25 November 2020). "Country Life publisher Future to buy GoCompare for £594m". The Guardian. ISSN   0261-3077. Archived from the original on 3 June 2023. Retrieved 9 January 2021.
  25. ↑ "Country Life owner buys Dennis Publishing in £300m deal". The Guardian. 16 August 2021. Archived from the original on 16 September 2021. Retrieved 16 September 2021.
  26. ↑ "Country Life publisher reeling after shareholder revolt over executive pay". The Guardian. 3 February 2022. Archived from the original on 3 June 2023. Retrieved 23 March 2023.
  27. ↑ Spangler, Todd (22 February 2023). "Jon Steinberg, Former BuzzFeed and Cheddar Exec, Tapped as CEO of U.K. Publisher Future". Variety . Archived from the original on 21 March 2023. Retrieved 12 March 2023.
  28. ↑ "A Wave of Trade Magazine Closures". Video Age. Retrieved 14 October 2024.
  29. ↑ Tobitt, Charlotte (7 August 2024). "Future closes two US TV trade publications".
  30. ↑ updated, Matt Maytum last (22 May 2023). "Enter the arena with the Gladiator II issue of Total Film – on sale now!". gamesradar.
  31. ↑ "Future closes titles and events deemed 'low to no growth assets'". Press Gazette. 3 October 2024. Retrieved 14 October 2024.
  32. ↑ Brew, Simon (4 October 2024). "Total Film and more | Future Publishing statement on closing magazines". Film Stories.
  33. ↑ "Barcroft Studios bought by Future plc for £23.5m". Televisual. 15 November 2019. Archived from the original on 22 March 2023. Retrieved 10 September 2024.
  34. ↑ "Why Future is buying TI Media". Flashes & Flames. 1 November 2019. Archived from the original on 22 March 2023. Retrieved 22 March 2023.
  35. ↑ "Future Celebrates Market Leading Position As Largest Tech News Publisher". GlobeNewswire (Press release). 23 September 2022. Archived from the original on 12 November 2022. Retrieved 5 December 2022.
  36. ↑ Partis, Danielle (15 September 2022). "Future makes editorial layoffs despite 'high' revenue projections". GamesIndustry . Archived from the original on 15 September 2022. Retrieved 5 December 2022.
  37. ↑ "UK's Future Plc to buy 'The Week' publisher for $415 mln". Reuters. 16 August 2021. Archived from the original on 10 February 2023. Retrieved 10 September 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.