Future has made two senior appointments to the board and is on the
hunt for more than 50 sales people as it gears up to launch a series of
magazines and websites.
The publisher’s results announcement last week was accompanied by the
news that Jessica Burley, publishing director of FT Business Magazines,
has been poached to head the UK launch of Business 2.0, the internet
Future said the US version of the magazine has exceeded all expectations
and now plans to launch it across Europe. Business 2.0 will become the
group’s biggest earner this year.
The magazine is aimed at business leaders who are shaping internet
In the US, it competes with a range of titles ranging from Red Herring
and Wired to Forbes and Fortune.
Future has also revealed plans to invest pounds 25 million in existing
business this year plus an unspecified amount in acquisitions. pounds 15
million is earmarked for launches including Business 2.0 and a
PlayStation 2 title. Future has the official publishing rights to the
original PlayStation format and is negotiating to acquire rights to the
upgrade, which will be introduced in the UK in the autumn.
John Weir, publishing director for computer magazines and internet
development, has also been appointed internet director. He will focus on
exploiting online opportunities.
A pounds 10 million investment is to be made in growing internet
businesses, including the European launch of DailyRadar.com, a computer
In the US, the site has signed a major e-commerce deal with video games
retailer Babbages and has already booked dollars 2 million of
advertising for this year. Future plans to extend the e-commerce model
into the UK.
Unlike Emap, Future has no plans to separate its online businesses into
a standalone company. Chief executive Greg Ingham said: ’We think it
makes more sense to embed internet thinking in publishers. Our readers,
online users and commercial relationships are all linked together. We
have never considered new media to be separate from print, it is part of
an integrated package.’
Future revealed 1999 profits were up 28 per cent to pounds 32.9 million,
with sales up 24 per cent to pounds 199 million.