Report

A brighter Future dawns

Future has been through a significant transformation over the last two years, stripping out the complexities of its operating model, leaving a clear and focused business. The group has strong brands built around content, targeted at niche demographics, typically males 18-34. The purchase of Imagine Publishing will add scale and reach, with new verticals that can be developed. The balance sheet is repaired and the path to building margin and repeatable income set as Future grows its e-commerce, events and digital advertising revenues and reaps the benefits of scale in magazines.
Underlying
Future plc

Future is an international media business organized into two divisions, Media and Magazine. The Media segment comprises websites and events and the Magazine segment comprises magazines. The Media division operates in a number of sectors, including the technology and games markets, and has a number of brands, including TechRadar, PC Gamer, GamesRadar+, The Photography Show, Generate and Golden Joysticks. The Magazine division creates magazines and bookazines. The Magazine portfolio spans technology, games and entertainment, music, creative and photography, field sports, knowledge and home interest verticals. Its titles include T3, Total Film, How It Works, Edge and All About History.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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