Time’s Q2 cir­cu­la­tion rev­enue falls 12.3pc

New Straits Times - - Business -

NEW YORK: Time Inc, the pub­lisher of For­tune, Peo­ple and Time mag­a­zines, re­ported a lower-than-ex­pected quar­terly rev­enue yes­ter­day, hurt by de­clines in mag­a­zine sales and ad­ver­tis­ing rev­enue. Cir­cu­la­tion rev­enue, which ac­counts for nearly 30 per cent of Time’s to­tal rev­enue, fell 12.3 per cent to US$207 mil­lion (RM886 mil­lion) in the sec­ond quar­ter ended June 30. Ad­ver­tis­ing rev­enue also dipped about 12 per cent to US$374 mil­lion, driven by de­clines in both print and dig­i­tal ad­ver­tis­ing.

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