International media group and event organiser Future Group, has said events are now a big driver of its revenues.
Publishing its results for the year ended 30 September 2016, the group noted overall revenues were flat at £59m. The media division, however, reported a 14 per cent increase in revenues, bolstered by events, and five new events added to the stable.
Future’s chief executive Zillah Byng-Thorne said an increase in cashflow was “particularly pleasing” and described the financial year as “fantastic”, with the group delivering on what it had been promising to shareholders. Net cash at 30 September 2016 was £0.5m (2015: net debt £1.8m), an improvement of £2.3m in the year.
“We want to connect audiences with people who want to be in touch with them,” she added, and said the group was “looking to grow business globally with organic growth and acquisitions where appropriate”.
The group, she noted, was beginning to operate from economies of scale and focusing more on licensing, syndication and event ticketing.
Jonny Sullens, head of events at Future told EW's sister title EN: "We are delighted with the growth in events at Future which has come both organically with launches and expansions as well as through acquisition.
"The highlight for us was probably the PC Gamer Weekender event which launched in March at the Truman Brewery. In addition to the live audience, the PC Gamer Weekender also delivered 1.2m video views from live streams and stage recordings, which is phenomenal. 2017 promises to be more of the same with new launches, new geographies and hopefully some acquisitions too."
