Shortlist Media, publisher of free magazines Shortlist and Stylist, is planning to launch its first international edition in Russia.
Founder and chief executive Mike Soutar said yesterday his company hoped to make an announcement later in the year – but he would not reveal the name of the likely partner organisation for the first foreign-licensed edition.
Soutar told the Paywalls Strategies Conference that Shortlist Media, which relies entirely on money brought it through advertising, was on target to generate revenue of £15.3m in 2010/2011.
During an address to the conference, Soutar displayed slides showing that his company made £11.2m in the last financial year and £5.7m in 2008/2009.
Shortlist Media targets a market of young people living in large cities across the UK with its weekly hand-distribution, with Shortlist magazine now holding a 43 per cent share of the men's market, according to recent figures from the Audit Bureau of Circulations.
Shortlist magazine makes around 68 per cent of its revenue through display ads with around 29 per cent coming from sponsored advertorials.
Stylist magazine makes around 77 per cent from display ads with about 20 per cent coming through advertorials.