Time Inc. reported its fourth quarter and full year earnings today. The publisher endured a rough fourth quarter, with revenue dropping eight percent to $895 million. Digital ad dollars were up slightly — from $85 million to $87 million — but that wasn’t enough to offset losses in print, which declined by 10 percent.
The publisher was particularly hurt by plummeting circulation. Circulation revenues — which includes subscription, newsstand and other circulation revenues — declined eight percent in the fourth quarter and three percent year over year.
While Time Inc.’s overall ad revenue for Q4 declined by eight percent, for the full year it only dropped by two percent.
Ever the optimist (he pretty much has to be), Time Inc. CEO Joe Ripp kept his eye on the future. “One of the unique sources of upside for Time Inc. is the ability to extend our powerful brands into new revenue streams,” he said.