Sara Guaglione of Digiday has a breakdown of the financial performance of the different business units at Forbes as it prepares to go public.
Guaglione writes, “This year, Forbes is projected to generate $138 million in media revenue (up 5% year over year), $47 million in brand extensions revenue (up 19% year over year) and $16 million in consumer revenue (up 75% year over year), according to its investor presentation. The company expects its consumer revenue growth to decelerate in 2021 and 2022, while its media and brand extensions revenue growth is expected to pick up or hold steady.
“Per the investor presentation, Forbes currently has 23,000 [digital] subscribers and aims to eventually attract more than 1 million subscribers, though the company did not provide a specific timeframe for that goal. Another long-term goal is to reach more than 15 million registered users.
“Forbes wants to find opportunities from the content it publishes to launch consumer-focused paid products, in order to grow its consumer revenue from its current standing of 12% to eventually make up 38% of its business. Ad revenue will shrink from 65% of Forbes’ business to 45% (the rest will be made up of brand extensions). ”
Read more here.