Factory Media to close print operations to focus on digital and video production
Factory Media, specialists in lifestyle, sports and culture media, is to cease production of its suite of magazines to focus on digital and video production.
A major restructuring of the business will see £1.1m invested in procuring new talent and content to target the video and TV sector with bosses maintaining that all key print editorial staff will be retained – although some job losses may be necessary.
In recent years Factory media has witnessed a surge in digital revenues on the back of growing revenues from native and branded content on its social media platforms for brands such as Microsoft, BMW Mini, 20th Century Fox and Jeep.
Darryl Newton, CEO of Factory Media, said: “Last year saw a leap of over 200 per cent in our branded-content production activities, with digital ad revenues up by 25 per cent. Although moving on from our heritage as a magazine publisher is an emotional shift, it also represents a significant opportunity to create even more content for a significantly larger online audience without the barriers of accessibility and affordability.
“Our social-media reach peaks at 340 million a month, and our owned audience exceeds 6 million online lifestyle sports fans.
Factory Media will also invest in unboundlife.com, a social hub for fitness fanatics.