Scores of magazine publishers are suffering through the coronavirus crisis, with newsstand sales plummeting and the ad market contracting. Wired UK isn’t immune to these challenges, but the early moves it made to diversify its revenue streams and to broaden its editorial coverage beyond tech have placed it in a strong position to weather the storm.
Wired UK estimates it will grow revenue by 10% in 2020, having downgraded its forecasts for the coronavirus impact. Unlike many other publishers, the title hasn’t furloughed or laid off staff or rolled out pay cuts.
“This reflects a very strong January and February and a somewhat weaker March/April/May due to revenue being shifted later in the year as a result of Covid,” said Nick Sargent, Wired Media Group and British GQ publishing director.
Anticipating any growth at all is a steep contrast in fortunes to many other players in the publishing sector.
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