UBM, RBI Report Growth in the First Quarter
UBM sees 7.5 percent growth in underlying revenue.
United Business Media (UBM) shared its first quarter report today, with a 13.7 percent increase in total revenue, rising from 2010 first quarterâ€™s $338.74 million to first quarter 2011â€™s $385.07 million. There was also a reported underlying revenue growth of 7.5 percent.
David Levin, CEO of UBM, says, â€śOverall we anticipate continued growth in profit largely driven by a full year of contribution from our acquisitions and continued momentum in our Events business tempted by targeted investment in Data Services, TD&M and Online.â€ť
In online/marketing services revenue, UBM saw an uptick of 42.8 percent from first quarter 2010â€™s $22.36 million to 2011 first quarterâ€™s $31.91 percent. On the flip side, print/magazine revenue fell ten percent from 2010â€™s first quarter to the first period of 2011, dropping from $56.54 million to $50.87 million. As of March 31, 2011, UBM had 114 titles in its print magazine portfolio.
UBM saw growth in its events sector, increasing 33.9 percent from first quarter 2010â€™s $101.74 million to 2011 first quarterâ€™s $136.24.
In September 2010, UBM acquired Canon Communications for $287 million. Canonâ€™s portfolio included 24 industry magazines and over 100 e-newsletters at time of purchase.
UBMâ€™s operating profits for online marketing services dropped six percent, from first quarter 2010â€™s $21.55 million to 2011 first quarterâ€™s $20.25 million. Print magazine operating profit fell 80 percent from 2010 first periodâ€™s $1.62 million to $324,000.
Reed Business Information Shares Interim Statement
Reed Business Information (RBI) also released their interim management statement today. According to the statement, â€śUnderlying revenue returned to growth in the first quarter, reflecting improvement in RBIâ€™s markets and the benefit of the portfolio actions taken.â€ť In April 2010, RBI closed 23 magazine titles.
RBI also shared that, â€śThe data services and online marketing solutions businesses grew particularly well.â€ť
The statement says, â€śWhile leading brands have stabilized, other business magazines and services continue to be impacted by difficult print advertising markets, particularly in continental Europe.â€ť
RBI dropped slightly in revenue from 2009 to 2010, decreasing from $9.84 billion to $9.81 billion.