Independent results

The Independent is pleased to record revenue with double-digit growth for the past financial year ending September 2022, making it the sixth consecutive year of profitable growth since going fully digital. The results reflect the impact of the business’ strategic focus on investing in the areas of international expansion, eCommerce and TV.

Highlights:

• Another year of record revenue growth of 12% to £46.3m (FY20/21: £41.2m), the sixth consecutive year of profitable growth since going fully digital.
• Operating Profit of £1.9m (FY20/21: £5.5m), as The Independent strategically invested in its key business pillars – international expansion, TV, Reader Revenues and eCommerce – along with on-the-ground reporting and documentary production from Ukraine.
• 127% increase in revenues for the award-winning Solutions business, Independent Ignite.
• 44% increase in revenue from eCommerce as the IndyBest platform continues to expand, driven by new, bigger commercial partnerships.
• 52% increase in revenue from IndependentTV through owned and operated channels, as Connected TV presence expands, and total viewers hit 73 million.
• 57.7% increase in registered users, climbing to 5m currently, with the Company’s increased emphasis on engagement and Reader Revenues.
• As part of this, there was a 17% growth in licensing and syndication revenues, with a particular focus on the US.
• The US editorial team increased by 50% as investment in quality journalism continued.
• Latest US ComScore figures show The Independent added 10.8m US readers over the past year, up 52%, and is the fastest growing US news brand (both YoY and MoM).
• Following the appointment of Editor-in-Chief, Geordie Greig in January, Tristan Davies, Editorial Director, and the promotion of Chloe Hubbard to Deputy Editor, the UK newsroom has been bolstered with the appointment of Gordon Thomson, ex-DMGT, as Premium Editor to oversee exclusive, paid-for content.
• The Independent was regularly cited as the largest quality digital news brand in the UK (21.0m average Unique Visitors in April 2023), and a top 10 brand in the US.

Read more here.

The AOP Digital Publishing Awards: another win!

The Independent is proud to be the winner of the Best Diversification of Commercial Strategy gong at the AOP Digital Publishing Awards 2023, recognising the industry-leading work of its licensing and syndication division.

The award reflects the growth of non-advertising revenues for digital publishers and the innovative approaches that publishers are taking to create new commercial opportunities.

On the win, the AOP Digital Publishing Awards statement reads: “The jury was impressed with the innovative use of The Independent’s archive assets with Netflix and Ancestry.com – and they enjoyed the team’s foray into new territories and languages with their editorial coverage.”

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