Time Inc. Posts Second-Quarter Gains
Subscription growth key to 3 percent revenue jump for the group.
Time Warner Inc. released its second-quarter results today, posting its highest growth rate since third quarter 2007. Overall revenues rose 10 percent to $7 billion compared to the same period in 2010. Its publishing division also did well—Time Inc. boosted revenues 3 percent for the quarter, with subscription revenues playing a key role.
Time Inc. revenues increased thanks to strong subscription growth (2 percent, or $7 million). Advertising edged up $5 million, a 1 percent increase compared to second quarter 2010. Content revenues shot up 56 percent, or $9 million, for the quarter.
The increase in subscription revenues, says the company, were largely attributed to domestic subscriptions.
According to the release, People’s royal wedding special issue was the Harry Potter of the filmed entertainment segment—the magazine had 105 ad pages, the most in any issue of People since 2007.
Operating income was also up for the quarter when compared to 2Q 2010—up 10 percent, or $16 million, to $169 million.
For the half, operating income was up about 14 percent to $232 million compared to first-half 2010. Revenues were up by about 1.5 percent for the half.