Newsweek Announces First Profitable Month Under New Ownership

NEW YORK, Oct. 8, 2014 /PRNewswire/ -- Newsweek today announced that September marked a return to profitability for the iconic magazine brand under its current ownership at IBT Media.

"Our business plan to support Newsweek's quality journalism is working. Clearly there is an appetite for premium content," said Etienne Uzac, co-founder and CEO of IBT Media. "In addition to bringing this iconic brand back to print, we've expanded advertising, significantly increased subscriptions and grown the online audience tremendously."

Newsweek's tradition of journalism excellence continues under the leadership of Editor-in-Chief Jim Impoco. He and his team have distinguished the magazine in a crowded news space with a series of high impact stories on subjects ranging from the unmasking of an international celebrity activist to the humanitarian crisis in South Sudan. Additionally, Impoco has expanded the editorial team to 50 staffers in New York and London to serve content to the print and digital platforms.

Newsweek's revenue has increased by 400% in the last year, driven by a three-pronged revenue strategy of subscriptions, advertising and licensed content. Global traffic to Newsweek.com has increased immensely between October 2013 and September 2014, from less than one million to nearly six million unique visitors a month. Newsweek will enhance readers' digital experience with new iOS apps this quarter.

The advertising business now accounts for about a third of Newsweek's overall revenue, which is a 100-fold increase in the last year. Advertising partners – spanning industries from luxury and travel to financial and tech – are drawn to Newsweek's affluent and influential audience; the average print household income is in excess of $100,000.

IBT Media successfully re-launched print editions in the United States and Europe in March, and publishes six international versions through licensees. It is continuing to explore additional international editions.

About IBT Media
IBT Media is the umbrella that unifies both iconic brands and innovative upstarts with the common vision to connect the dots around the world to fuel your passion and enable informed decisions.

With authoritative journalism in four different languages, our content gives readers in 190 countries a window on current events, inspired perspectives, information to act and to discuss. Our brands are published by local staff in five countries, and include International Business Times, Newsweek, Medical Daily, Latin Times and iDigitalTimes.

For more information on International Business Times, visit: http://www.ibtimes.com/ or follow IBTimes on Twitter at: @IBTimes.

Media Contact
Lisa Schultz McGann, Edelman on behalf of Newsweek and IBT Media
212 704 8160
[email protected]

SOURCE IBT Media

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