United Business Media, parent company of CMP Information, has shown good growth in its data and events markets but declining revenues from print, according to its annual report.
UBM’s total profit was £168.9m in 2007 with its mainly UK-based CMP Information accounting for £47.6m and other divisions CMP Technology and CMPMedica accounting for £25.2m and £18.5m of total profits respectively. UK based products represented 23.4 per cent of revenue, or 14.9 per cent of profit.
Total UBM print revenue fell from £275.6m in 2006 to £220.5m in 2007. Events were up from £220.4m to £242.1m, online from £42.5m to £45.3m, data from £90.5m to £152.6m – boosted by the purchase of Commonwealth Business Media in 2006.
Revenues from its news distribution services rose from £129.9m to £141.1m, accredited to the growth of its PR Newswire service. Revenues from display ad based magazines fell by almost 10 per cent to 27.5 per cent of total revenues.
UBM said it would look to increase revenue in data and events based products. All acquisitions in 2007 were ‘bolt on’to existing products and were principally in events, online and data services.
The company predicted that 80 per cent of 2008 revenues would come from these platforms.
Revenues from CMP Information were up in 2007, growing by 13.2 per cent compared to 6.6 per cent in 2006. The company credited events and strong performances from flagship brands like Property Week for the overall growth but admitted that a number of smaller titles showed declines.
CMPi had been shifting its focus away from print and towards events and other platforms. In 2007, print accounted for 35 per cent of revenues, down from 42 per cent in 2006. It said big titles like Property Week, Building Design and Building showed double digit revenue growth.
A radical shake-up in its technology division, CMP Technology in 2007 saw revenue from print fall from 73 to 38 per cent. CMPMedica, which includes the UK based Pulse magazine, had a ‘disappointing’performance with revenue down by 4.5 per cent year-on-year. It points to declines in its business in the UK and especially the US as the company restructures the business.
The company warned against the risks of advertising linked print products in economic recession.