Bauer Media posts second highest turnover despite fall in advertising

Bauer Media has posted the second highest turnover in its history despite recording a fall in global advertising revenue last year.

Bauer Media posts second highest turnover despite fall in advertising

The owner of Absolute Radio and Grazia recorded turnover of €2.316bn (£2.6bn) last year, which is marginally less than its best turnover performance in 2013 (€2.322bn).

Magazine turnover make up 55.8% of the total figure and was flat compared to last year, but advertising was down 9.2% to €397 year on year.

Digital turnover grew year on year by 16.2% to €122m, making up only 5.3% of total turnover for 2015.  

Radio saw the biggest growth in turnover, rising 38.5% to €320m compared to 2014.

Yvonne Bauer, Bauer Media’s chief executive, said: "Our growth is based on innovative products and the constant nurturing of our brands. Print is the platform for our success. In addition, we will continue to expand our radio and digital businesses and make further strategic investments in all our business fields."