Member Article

Time Out caps first year as a listed company with 23% revenue growth

Global media business Time Out has enjoyed an impressive first year as a listed company with strong growth across its business with figures ahead of board expectations.

The group, which is headquartered in London, said that revenue grew 23% last year, or 17% in constant currency, with losses for the period in line with expectations.

Julio Bruno, Chief Executive Officer at Time Out Group plc, commented: “We have delivered a strong performance in 2016 in terms of the operational and strategic development of all lines of our business. I am pleased that we have been able to deliver revenue ahead of expectations in our first year as a listed company.”

According to its trading update this morning, Time Out’s digital business delivered 44% digital revenue growth while its Time Out Markets concept in Lisbon saw year-on-year growth of 110%, or 85% in constant currency.

Such has been the success of its market in Lisbon, which welcomed 3.1m visitors last year, that the group announced last year that it is plotting further markets in Shoreditch and Miami, making the endeavours a key part of their march towards profitability.

Bruno added: “We continue on our journey to be the leading global media and entertainment business that inspires people to connect with cities through content, curation and experiences.”

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