Subscriptions to The Economist rose to a record 1.25 million during its most recent fiscal year, with the company reporting 11 percent growth in operating profit and 4 percent growth in annual revenue.
The operating profit was £48m, with revenue hitting £369m. Paid subscriptions to The Economist rose by 3%.
Chief executive officer Lara Boro said in a statement:
Record subscription numbers are a tribute to the rapid embrace of innovation in the newsroom and throughout The Economist Group. Engagement is up, more customers access us through podcasts, audio, video and live events, and more organizations have taken out enterprise subscriptions for their teams.
Our B2B businesses continue to find innovative solutions for our clients, with a fourth year of subscription growth in the EIU, as organisations sought out the best data and analysis to help them navigate volatile geopolitical and macroeconomic conditions. Economist Impact Partnerships, despite market headwinds, delivered robust results with a strong second half of the year, and Impact Events delivered another year of record revenue and strong margins.
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