Susan Arendt
Culture

Game Magazine Publisher Weathers Revenue Dip

Publishing powerhouse Ziff Davis has posted a 44% drop in revenue for the company’s Game Group, the bit that’s responsible for Electronic Gaming Monthly, Games for Windows, and 1up.com. Revenue for the whole company was down 19% from last year, which amounted to about $32.7 million. The company blamed the drop in profits on lack […]

Ziff
Publishing powerhouse Ziff Davis has posted a 44% drop in revenue for the company's Game Group, the bit that's responsible for Electronic Gaming Monthly, Games for Windows, and 1up.com. Revenue for the whole company was down 19% from last year, which amounted to about $32.7 million.

The company blamed the drop in profits on lack of advertising due to the console transition, and we're guessing the folding of Official Playstation Magazine couldn't have helped much, either. Still, they're glass-half-full kinda folks over there at ZD. CEO Robert Callahan has no worries about the future:

The growth of our digital platforms continues to drive the improved profitability of this business, despite the decline in print advertising. Roughly half of our revenues now come from digital platforms and next quarter we believe we will be well over 50 per cent.

Game revenues drop by $1M for Ziff Davis [GamesIndustry]