Newsweek experienced its first profitable month in September since being under the ownership of IBT Media.
According to IBT, which acquired “Newsweek” a year ago, “Newsweek” has increased its revenue by 400 percent in the last year, using a three-pronged revenue strategy of subscriptions, advertising and licensed content.
Advertising, which has enjoyed a 100-fold increase in the past year, now makes up about a third of “Newsweek’s” overall revenue.
On the online front, global traffic to Newsweek.com has grown from less than 1 million monthly unique visitors a month to nearly 6 million in the period between October 2013 and September 2014.
In terms of editorial staff, Editor-in-Chief Jim Impoco has expanded the team to 50 staffers located in New York and London, who provide content for the print and digital platforms.
“Our business plan to support Newsweek’s quality journalism is working. Clearly there is an appetite for premium content,” IBT Media co-founder and CEO Etienne Uzac said. “In addition to bringing this iconic brand back to print, we’ve expanded advertising, significantly increased subscriptions and grown the online audience tremendously.”
In March, IBT re-launched print editions of “Newsweek” in the U.S. and Europe. Currently, six international editions are published via licensees.