24th January 2016

Newsweek Claims First Profit Since Relaunch

IBT Media's Newsweek has claimed it's first profit since it was relaunched two years ago.

In 2012, Newsweek was closed.

In March 2014, the title returned to print with a dedicated European edition.

In early 2015, the London-based print team experienced a staff cutback.

However, more recently Newsweek's editorial team has grown to a total of 12, with a focus on online.

The fourth quarter of 2015 was the first profitable period for Newsweek, according to IBT Media.

Advertising revenue is said to be up 327% year on year, and overall revenue is said to be up 90% in the same period, according to IBT Media.
"By investing in the industry’s best editorial staff we are fulfilling a growing demand for excellent journalism, allowing us to increase subscriptions and gain new readers. Maintaining Newsweek’s reputation for high-quality content has enabled us to greatly increase our online and print audiences.” said Matt McAllester, Newsweek Europe editor.

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