Forbes digital revenue growing at 20 percent rate

Lewis Dvorkin, the chief product officer at Forbes, writes about how the business magazine’s online operations have now represent 65 percent of total advertising revenue and that digital revenues is growing this year at a 20 percent increase.

Dvorkin writes, “Media observers, a breed apart, prefer to drone on that we’re ‘diluting the brand.’ Much of their concern stems from fear of the future  – and the uncertainty of their role in it. In fact, we’re extending the FORBES brand vision. Readers navigate to relevant content, returning only if they like what they get. comScore says our audience is three to four times higher than four years ago (September is likely to set new records). MRI puts FORBES magazine readership at 6 million, up from 5 million a year or so ago, and by far the most in our category. More than 50 marketers publish content on Forbes.com through our BrandVoice program. The first to do so (SAP) is still going strong. We’ve crossed the great divide — nearly 65% of total advertising revenue is digital. This year, digital revenues are again pacing 20% or more higher. And in a licensing deal, a FORBES financial tower is in development in the Philippines.

“This brings us to our new ownership, an international investor group that believes in our media model, the technology that drives it and the branding potential for FORBES across the world, particularly in Asia. Next week, I’m in Hong Kong — to learn, share and discuss the rewards, complexities and dreams of a modern media company. As I say in staff meetings… onward to our global future.”

Read more here.