MCV is reporting that Future Publishing are to lose around a hundred staff as pressures on the stumbling print market grow.
[drop2]The news comes from an internal memo to staff from Future’s UK CEO, Mark Wood, which was subsequently leaked to the trade website. A hundred people represents a tenth of the thousand employees, although just now Future are asking for voluntary redundancies.After that, says MCV, “roles will be removed via a consultancy period.”
Future Publishing have a decent portfolio of magazines, including favourite of the site, Edge magazine, and several ‘official’ console monthlies.
Whilst the memo talks about “reviewing the future of some titles” it’s thought that the company’s online presence is sound.
Our best wishes go out to anyone affected.
hol
Sad as it seems, as others have said, physical media & especially magazines in our hobby aren’t going to get anymore people buying them. After all, when the competition is a website updated almost on a by the minute basis, why buy them?
Plus, whilst Edge is getting bashed ;) I read it from issue 1 to 200 then stopped as the editorial had firmly planted it’s head up it own backside. Sad really as it was the best at what it did, back in the early days.
Toby M [Dexter17]
Genuinely sad to hear this. I know several people who work within the company and all are extremely talented and passionate about their jobs – it’s a real community in there, and for that to be broken up is a tragedy.
I can only hope that those who do get made redundant get back into work quickly, and that gamers choose to dig into their pockets to purchase a magazine.
colossalblue
I really don’t see that this is a print vs. digital issue.
Print is on the decline and has been for years but the magazines that adapt and evolve will survive (see GameInformer in the US). Edge can build success on it’s unrivalled feature content. Likewise the “Official” magazines – their platform holder backing and preferential treatment gives them a massive advantage over anyone else in the industry both in print and with the video magazine format that FirstPlay demonstrated.
But Future publish several of the biggest games websites too. CVG, GamesRadar and Edge Online, PCGamer all attract big advertising spends and run high-yield adverts. So why aren’t they able to maintain staff levels? Are they actually overstaffed? Are they mismanaged? Is it the case that revenue simply isn’t there anymore (and that would certainly not just be a print issue, it would apply even moreso to online business)?
I see this as an issue with profitability (and perhaps competing with themselves in a few areas) rather than the decline of print.
OPM, OXM and ONM sell, Edge sells, PSM3 sells – both issues and ad space (not to mention all the other specialist titles Future puts on shelves, most of which are market leaders). The websites must attract some of the highest monthly ad rates, too. Yet it’s still not enough to keep them profitable? Where is the money going?
Crocadillian
Excellent point and analysis, they have enough products and services to support them. Maybe they’re just trying to cut costs and optimise the business by reorganising and making workers redundant. In the memo, they also said that they’re reviewing the future of some titles, so this might also suggest optimisation. Still doesn’t quite make sense though…
damoxuk
I hope they don;t close the Unofficial PS3/360 mags due to competing space.
The official mags are stale in comparison and what with psm3 and xboxworld 360 getting re-designs soon I hope not.
Ngamer however i’d put money on that going down as Ninty mags are low sellers anyway.
cam_manutd
Shame really as Play is a good cracking read :)
Edge however strike me as a bunch of spineless arrogant old farts..though I would not wish redundancy on anyone Edge is a mag written for the arrogant and produced by the arrogant
damoxuk
Play is ished by Imagine not Future.
nofi
The Edge hate is ridiculous. IMO it’s the only mag not aimed at 10 year olds…
rSp8
I subscribe to PSM3 magazine and often think it’s a waste of money when sites such as this have all the news straight away and reviews are available asap. There’s just something about flicking through the magazine, looking at the screenshots and studying the reviews that I can’t part with.
damoxuk
I personally don;t buy gaming mags for News.. I mean who does?
I check about 5 diff gaming sites everyday so news is best served instant.
However for Reviews especially decent features and letters ereading mags sat on the sofa/shitter etc is pref to bringing your laptop/pad into the turd room.
gaffers101
I enjoy the online stuff but you can’t beat reading a good magazine review/feature. I will continue to buy gaming mags by published and wish them the best of luck. Their podcasts are pretty good too.