Time Out Group

Last updated

Time Out Group
Company typePublic
LSE:  TMO
IndustryMedia
GenreLifestyle
Founded1968
Founder Tony Elliott
Headquarters
London
,
England
Key people
Chris Öhlund (CEO)
ProductsWebsites, mobile apps guidebooks, social media, live events, food and cultural market
BrandsTime Out
Time Out Market
Number of employees
450 (2022)
Website timeout.com

Time Out Group is a British media and hospitality company. Its digital and physical presence comprises websites, mobile editions, social media, live events and markets. Time Out covers events, entertainment and culture in cities around the world. [1] [2]

Contents

Time Out was established in 1968, by founder Tony Elliott and has developed into a global platform across 333 cities and in 59 countries. Time Out Market was launched in 2014 in Lisbon. [3] [4] [5]

History

The original Time Out magazine was first published in 1968 by Tony Elliott with Bob Harris as co-editor, and has since developed into a global platform across 333 cities and 59 countries. The magazine was a one-sheet pamphlet with listings for London. [6] It started as a counter-culture publication that had an alternative viewpoint on issues such as gay rights, racial equality, and police harassment. [7] [8] Early issues had a print run of around 5,000 and evolved to a weekly circulation of 110,000. [8] One of the editors in the 1970s was Roger Hutchinson. [9]

The brand was expanded to North America with Time Out New York magazine also known as TONY in 1995 followed by Time Out New York Kids in 1996. The success of taking the Time Out brand abroad led to the expansion of the magazine worldwide. The brand grew to include travel magazines, city guides, and books. [8]

Time Out was able to withstand print competition; however, its late integration of a digital platform during the online revolution proved to be a challenge. When Time Out New York launched it did not have a website and was competing against well-established online publications such as Citysearch and The Village Voice . [8] The company; however, continued to expand with licensing of the brand and in 2009 launched its iPhone app in New York and then London, which was sponsored by Smirnoff, enabling the app to be free of charge. [10]

Financial loss and the necessity to expand the Time Out brand led Tony Elliott to sell half of Time Out London and 66 percent of TONY to private equity group Oakley Capital in May 2011. [8] Under new ownership, the company expanded the brand digitally through partnerships with software companies to develop a common online platform for the brand and to create multi-city mobile applications. [8] [11] The company continued to grow digitally and launched an iPad app for New York and London in July 2012. The iPad app was initially sponsored by MasterCard. [12]

In July 2015, Time Out Group announced a £7 million investment in Flypay, a pay-at-table mobile app that will integrate its technology into Time Out's media platform. [13]

In June 2016, Time Out Group underwent an initial public offering and trades under the symbol TMO on London's AIM stock exchange. [14] [15]

In March 2020, during the COVID-19 pandemic, the Time Out website altered its logo to read Time Out In, and the site began recommending activities that could be enjoyed at home. [16]

Time Out publications

Time Out content is available in cities around the world including Paris, Lisbon, Porto, L.A., Miami, Chicago, Sydney, Melbourne, Hong Kong, Madrid, Barcelona, Singapore, Beijing, Shanghai, Tel Aviv, Mexico City, Bangkok, Tokyo, Dubai and Istanbul among others. Time Out London magazine is a free weekly publication based in London. [6] [17] Time Out provides event listings and editorial on film, theatre and the arts in London to inform readers of the availability of entertainment in the city. [6] After 54 years of publication, the print version of Time Out London was distributed on 23 June 2022 for the last time. The magazine continues to be published online. [18]

Time Out New York (referred to as TONY) was the brand's first magazine launch in North America and debuted in 1995. Time Out New York is now available for free every other Wednesday in vending boxes and newsstands across New York City and there are copies inside cultural establishments, cafes and other locations. [19] The web audience is estimated to 4.5 million unique visitors a month. [20]

Time Out guide books

Time Out Media publishes guides written by locals aimed at providing tourists with tips in urban "nooks" around the world. [21] Mobile apps have been integrated with city guides to allow mobile users to use GPS to pinpoint their location on Time Out maps and search for dining and event recommendations along with a list of editors picks and other options. [21]

Time Out Market

Time Out Market Lisbon Time Out Market Lisboa.jpg
Time Out Market Lisbon
Launch cover for Time Out Lisbon Magazine Launch cover for Time Out Lisbon Magazine.jpg
Launch cover for Time Out Lisbon Magazine

In April 2014 Time Out Lisbon launched the Time Out Mercado da Ribeira. [22] The market hosts 35 small restaurant and artisan kiosks from chefs offering local specialities. [22]

New Time Out Markets opened in 2019 in South Beach, Miami; Dumbo, New York; Fenway, Boston; Fulton Market District, Chicago; and Montreal. In 2021 in Dubai. [23] In 2024, a new location opened in Porto [24] and in Barcelona. [25] New locations are set to open in the future. [26]

Acquisitions

In August 2011, Time Out acquired the personalisation business LikeCube. [27] Kelkoo, a daily-offers business, was acquired by Time Out in December 2011. [28]

The Time Out brand license was acquired for the Chicago publication March 2013. [29] The acquisition was part of a strategy to build an international media organisation in 50 cities. [30] Changes included moving from print publication to exclusively digital format as only a limited few cities still have a printed Time Out magazine edition including London and New York. [30] [31]

Time Out acquired the event discovery platform Huge City in May 2014. [32] In April 2016, Time Out acquired the geo-mapping start-up Hallstreet. [33] In October 2016, Time Out acquired the event discovery and booking service YPlan. [34] [35]

Related Research Articles

<span class="mw-page-title-main">Gartner</span> American research company

Gartner, Inc. is an American technological research and consulting firm based in Stamford, Connecticut, that conducts research on technology and shares this research both through private consulting as well as executive programs and conferences. Its clients include large corporations, government agencies, technology companies, and investment firms.

<span class="mw-page-title-main">Citrix Systems</span> American software company

Citrix Systems, Inc. is an American multinational cloud computing and virtualization technology company that provides server, application and desktop virtualization, networking, software as a service (SaaS), and cloud computing technologies. Citrix claims that their products are used by over 400,000 clients worldwide, including 99% of the Fortune 100 and 98% of the Fortune 500.

Verizon is an American wireless network operator that previously operated as a separate division of Verizon Communications under the name Verizon Wireless. In a 2019 reorganization, Verizon moved the wireless products and services into the divisions Verizon Consumer and Verizon Business, and stopped using the Verizon Wireless name. Verizon has 114.8 million subscribers as of March 31, 2024. It currently has the largest network in the United States with their LTE network covering 70% of the United States.

YouGov plc is a British international Internet-based market research and data analytics firm headquartered in the UK with operations in Europe, North America, the Middle East, and Asia-Pacific.

Condé Nast is a global mass media company founded in 1909 by Condé Montrose Nast (1873–1942) and owned by Advance Publications. Its headquarters are located at One World Trade Center in the Financial District of Lower Manhattan.

<span class="mw-page-title-main">Emmis Corporation</span> American media conglomerate

Emmis Corporation is an American media conglomerate based in Indianapolis, Indiana, United States. Emmis, based on the Hebrew word for "Truth" (Emet) was founded by Jeff Smulyan in 1980. Emmis has owned many radio stations, including KPWR and WQHT, which have notoriety for their Hip Hop Rhythmic format as well as WFAN, which was the world's first 24-hour sports talk radio station. In addition to radio, Emmis has invested in TV, publishing, and mobile operations throughout the U.S.

Audacy, Inc. is an American broadcasting company based in Philadelphia, Pennsylvania. Founded in 1968 as Entercom Communications Corp., it is the second largest radio company in the United States, owning over 220 radio stations across 47 media markets.

Time Inc. was an American worldwide mass media corporation founded on November 28, 1922, by Henry Luce and Briton Hadden and based in New York City. It owned and published over 100 magazine brands, including its namesake Time, Sports Illustrated, Travel + Leisure, Food & Wine, Fortune, People, InStyle, Life, Golf Magazine, Southern Living, Essence, Real Simple, and Entertainment Weekly. It also had subsidiaries which it co-operated with the UK magazine house Time Inc. UK, whose major titles include What's on TV, NME, Country Life, and Wallpaper. Time Inc. also co-operated over 60 websites and digital-only titles including MyRecipes, Extra Crispy, TheSnug, HelloGiggles, and MIMI.

<span class="mw-page-title-main">Bharti Airtel</span> Indian multinational telecommunications company

Bharti Airtel Limited, commonly known as Airtel, is an Indian multinational telecommunications services company based in New Delhi. It operates in 18 countries across South Asia and Africa, as well as the Channel Islands. Currently, Airtel provides 5G, 4G and LTE Advanced services throughout India. Currently offered services include fixed-line broadband, and voice services depending upon the country of operation. Airtel had also rolled out its Voice over LTE (VoLTE) technology across all Indian telecom circles. It is the second largest mobile network operator in India and the second largest mobile network operator in the world. Airtel was named India's 2nd most valuable brand in the first ever Brandz ranking by Millward Brown and WPP plc.

Spotify is a Swedish audio streaming and media service provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon. It is one of the largest music streaming service providers, with over 615 million monthly active users, including 239 million paying subscribers, as of March 2024. Spotify is listed on the New York Stock Exchange in the form of American depositary receipts.

<span class="mw-page-title-main">Groupon</span> American worldwide e-commerce marketplace

Groupon, Inc. is an American global e-commerce marketplace connecting subscribers with local merchants by offering activities, travel, goods and services in 13 countries. Based in Chicago, Groupon was launched there in November 2008, launching soon after in Boston, New York City and Toronto. By October 2010, Groupon was available in 150 cities in North America and 100 cities in Europe, Asia and South America, and had 35 million registered users. By the end of March 2015, Groupon served more than 500 cities worldwide, nearly 48.1 million active customers and featured more than 425,000 active deals globally in 48 countries.

Superdrug Stores plc is a health and beauty retailer in the United Kingdom, and the second largest behind Boots UK. The company is owned by AS Watson Limited which is part of the A.S. Watson Group. It was acquired as part of the buyout of Kruidvat BV in October 2002. The A.S Watson Group is itself part of the Hong Kong conglomerate CK Hutchison Holdings.

<i>Time Out</i> (magazine) Global magazine

Time Out is a global magazine published by Time Out Group. Time Out started as a London-only publication in 1968 and has expanded its editorial recommendations to 333 cities in 59 countries worldwide.

iHeartRadio is an American freemium broadcast, podcast and radio streaming platform owned by iHeartMedia. It was founded in August 2008. As of 2019, iHeartRadio was functioning as the national umbrella brand for iHeartMedia's radio network, the largest radio broadcaster in the United States with 128 million registered users as of 2019. Its main competitors are Audacy, TuneIn and Sirius XM.

Grubhub Inc. is an American online and mobile prepared food ordering and delivery platform based in Chicago, Illinois.

<span class="mw-page-title-main">Ola Cabs</span> Indian ridesharing company

Ola Cabs is an Indian transportation company that provides ridesharing services and operates other business verticals such as financial services and cloud kitchens. It is headquartered in Bangalore, Karnataka and operates in 250+ Indian cities.

YPlan was a mobile-first event discovery and booking service, which was co-founded by Viktoras Jucikas and Rytis Vitkauskas in London, United Kingdom in 2012. Users are presented with a curated list of things to do, including last-minute events, which can be booked direct on the app or via the website.

Bumble is an online dating and networking application launched in 2014. Profiles of potential matches are displayed to users, who can "swipe left" to reject a candidate or "swipe right" to indicate interest. Until 2024 only female users could make the first contact with matched male users, while in homosexual matches either person can send a message first. The app is a product of Bumble Inc.

<span class="mw-page-title-main">DiDi</span> Chinese vehicle for hire company

Didi Chuxing Technology Company is a Chinese vehicle for hire company headquartered in Beijing with over 550 million users and tens of millions of drivers. The company provides app-based transportation services, including taxi hailing, private car hailing, social ride-sharing, and bike sharing; on-demand delivery services; and automobile services, including sales, leasing, financing, maintenance, fleet operation, electric vehicle charging, and co-development of vehicles with automakers. The company is a subsidiary of Xiaoju Kuaizhi Inc.

<span class="mw-page-title-main">Prime Now</span> Subsidiary of Amazon

Prime Now, LLC is a subsidiary of Amazon that oversees its same-day grocery shopping and delivery service. The name also originated a brand, including a custom app, to distinguish the service from Amazon's other offerings, but both the branding and the app have since been discontinued. The service is used chiefly by the company's own Whole Foods Market and Amazon Fresh subsidiaries. An Amazon Prime subscription includes and is required for access to the service, though it may not be available in all locations where Amazon Prime is offered. Third-party retail partners may also participate in the service and sell goods through Amazon's website.

References

  1. ↑ Tricia Whitlock (14 May 2014). "Time Out Group acquired Hugecity". Hypepotamus. Archived from the original on 2 October 2021. Retrieved 8 July 2015.
  2. ↑ Chris O'Shea (30 September 2015). "Time Out Group Makes 2 Exec Appointments". Adweek. Archived from the original on 16 December 2018. Retrieved 20 October 2015.
  3. ↑ Key, Alys (24 January 2018). "Time Out's plans for a London foodie market aren't quite defeated yet". www.cityam.com. Archived from the original on 12 January 2019. Retrieved 11 January 2019.
  4. ↑ Nick Kotecki (10 February 2015). "Survey: how many dates before sex". Chicago Sun-Times. Archived from the original on 10 July 2015. Retrieved 8 July 2015.
  5. ↑ Lauren Johnson (11 December 2014). "Which brands boomed and which ones busted in social media this year?". Adweek. Archived from the original on 10 July 2015. Retrieved 8 July 2015.
  6. 1 2 3 Robert Budden (24 September 2012). "Time Out abandons its cover price". Financial Times. Retrieved 8 July 2015.
  7. ↑ "Time Out makes capital gains as free magazine". Campaign. 26 September 2013. Archived from the original on 10 July 2015. Retrieved 8 July 2015.
  8. 1 2 3 4 5 6 Lucia Moses (27 June 2011). "Can Time Out's Tony Elliott weather the storm?". Adweek. Archived from the original on 18 June 2015. Retrieved 8 July 2015.
  9. ↑ "Two men, one road and a most unusual journey". The Herald. 13 April 2007. Archived from the original on 16 September 2018. Retrieved 14 January 2018.
  10. ↑ Mercedes Bunz (21 December 2009). "Time Out London launches iPhone app". The Guardian. Retrieved 8 July 2015.
  11. ↑ Sam Shead (25 February 2014). "Time Out bundles multiple city guides into one global app". Tech World. Archived from the original on 14 July 2015. Retrieved 8 July 2015.
  12. ↑ Nick Batten (27 July 2012). "Time Out launches free iPad app with MasterCard sponsorship". Media Week. Archived from the original on 10 July 2015. Retrieved 8 July 2015.
  13. ↑ Megan Dunsby (16 July 2015). "Flypay to 'transform hospitality' with £7m Time Out investment". StartUps.co.uk. Archived from the original on 21 August 2015. Retrieved 6 August 2015.
  14. ↑ Sweney, Mark (29 April 2016). "Time Out Plans £200m Stock Market Flotation". The Guardian. Retrieved 22 September 2016.
  15. ↑ Hussain, Noor Zainab (9 June 2016). "Time Out to Raise £90 Million in London Listing". Reuters. Archived from the original on 23 September 2016. Retrieved 22 September 2016.
  16. ↑ Glenday, John (16 March 2020). "Time Out rebrands to Time In as coronavirus 'social distancing' takes effect". The Drum. Retrieved 8 March 2021.
  17. ↑ "Gorkana meets...Time Out London". Gorkana Group. 26 January 2015. Archived from the original on 14 April 2015. Retrieved 9 July 2015.
  18. ↑ Maher, Bron (22 June 2022). "Time Out London comes to 'happy, natural end' in print". Press Gazette. Archived from the original on 22 June 2022. Retrieved 23 June 2022.
  19. ↑ Caysey Welton (2 April 2015). "Time Out New York transforms into a (mostly) free weekly". Folio. Archived from the original on 9 June 2015. Retrieved 9 July 2015.
  20. ↑ "Time Out New York switching to all-free distribution model". New York Post. 1 April 2015. Archived from the original on 15 July 2015. Retrieved 9 July 2015.
  21. 1 2 Mark Sweney (14 October 2014). "Time Out to launch websites for six UK cities". The Guardian. Archived from the original on 14 June 2024. Retrieved 9 July 2015.
  22. 1 2 Isabel Choat (26 June 2014). "10 of the best restaurants and cafes in Lisbon". The Guardian. Archived from the original on 14 June 2024. Retrieved 9 July 2015.
  23. ↑ "Alliance News Detail - London Stock Exchange". www.londonstockexchange.com. Archived from the original on 12 January 2019. Retrieved 11 January 2019.
  24. ↑ James Manning (3 May 2024). "Time Out Market Porto is now open!". Time Out. Archived from the original on 9 May 2024. Retrieved 9 May 2024.
  25. ↑ María José Gómez (5 July 2024). "Time Out Market Barcelona is now open". Time Out. Archived from the original on 16 July 2024. Retrieved 16 July 2024.{{cite web}}: |archive-date= / |archive-url= timestamp mismatch; 9 May 2024 suggested (help)
  26. ↑ "London Stock Exchange". www.londonstockexchange.com. Archived from the original on 14 June 2024. Retrieved 5 February 2023.
  27. ↑ Sophie Madden (8 March 2011). "Time Out Group acquires recommendation software company". Media Week. Archived from the original on 10 July 2015. Retrieved 9 July 2015.
  28. ↑ Angela Sormani (12 December 2011). "Time Out Acquires Kelkoo Select". PE Hub. Archived from the original on 10 July 2015. Retrieved 9 July 2015.
  29. ↑ Louise Ridley (8 April 2013). "Time Out Group buys Chicago title". Campaign. Archived from the original on 14 June 2024. Retrieved 9 July 2015.
  30. 1 2 Grid Business (8 April 2013). "Time Out Chicago finalizes its sale and Feder says goodbye". Chicago Sun-Times. Archived from the original on 10 July 2015. Retrieved 9 July 2015.{{cite web}}: |author= has generic name (help)
  31. ↑ "Time Out Chicago officially sold; Staffers to exit, magazine ceases". Chicagoland Radio and Media. 8 April 2013. Archived from the original on 31 August 2015. Retrieved 9 July 2015.
  32. ↑ Ian Griggs (12 May 2014). "Time Out Group buys Hugecity". Campaign. Archived from the original on 14 June 2024. Retrieved 9 July 2015.
  33. ↑ May, Kevin (12 April 2016). "Time Out Buys HallStreet Travel Startup in Acqui-hire Move". Phocuswire. Archived from the original on 29 January 2020. Retrieved 29 January 2020.
  34. ↑ "Time Out Group buys London events company YPlan". City AM. 21 October 2016. Archived from the original on 21 October 2016. Retrieved 21 October 2016.
  35. ↑ "Time Out acquires events discovery and booking platform YPlan for as little as £1.6M". 21 October 2016. Archived from the original on 14 June 2024. Retrieved 24 January 2017.
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.