F + W Media Acquires The Writers Store
Becomes 26th store in F + W’s e-commerce portfolio.
Adding to their rapidly expanding portfolio of e-commerce storefronts, F + W Media acquired The Writers Store. Becoming the 26th store under the F + W umbrella, The Writers Store sells third-party writing and filmmaking tools globally.
The Writers Store offers tools, services and exclusive products to their demographic.
According to David Naussbaum, chairman/CEO of F + W, this deal was made to specifically serve an existing niche for the company, “This acquisition allows us to add a compelling product extension to our current Writer’s Digest Writing Community…” says Nussbaum in a statement. “We are excited to introduce more than 150,000 new consumers to the F+W portfolio of products and services, while offering our current consumers [a] specialized screenwriting focus.”
Naussbaum says revenue for The Writers Store is in the multiple of millions, and 90 percent of that number comes directly from e-commerce.
F + W is heavily steeped in the e-commerce game, which has grown 50 percent in the past year for the publisher. Of e-commerce, Nussbaum told Folio: in a recent interview, “We expect it will be our largest business – if not the largest – by 2014.”