Fast-growing Bath media group Future hit the takeover trail in the US again today, acquiring a premium digital entertainment publisher in a move that will widen its share in the country’s TV, film and games market.
CinemaBlend, which Future has snapped up for an undisclosed sum, is a high-growth digital brand focused on the TV, film and entertainment market.
Its website, podcast series, social media channels and newsletters provide a platform for enthusiasts and casual fans to discover, explore and discuss films and TV shows on streaming services such as Netflix and TV through the likes of HBO.
The brand’s website, Cinemablend.com, reached 19.4m monthly unique visitors over the first six months of 2020, representing growth of 118% year-on-year.
The company had revenue of $3.1m last year, up from $2.7m in 2018. It has also achieved significant online growth since the start of 2019 and has continued to perform well this year with the Covid-19 crisis increasing appetite for advice on what to watch on TV, resulting in 28m sessions in June 2020 alone.
Future said the acquisition would expand the reach of its 46m online users in its TV & Film and Games & Entertainment markets, particularly in the US.
It would also provide an opportunity to accelerate the development of Future’s recently launched website Whattowatch.com, the group said, by establishing a strong market position from which it can grow both online brands, as well as benefiting from collaboration, content sharing and new expertise.
Future CEO Zillah Byng-Thorne said: “We are delighted to be adding CinemaBlend to our portfolio of leading entertainment brands. CinemaBlend is a great cultural fit for Future, producing content we are passionate about.
“The acquisition materially expands our market share within the TV & film and games & entertainment verticals in the US, and provides us with a range of opportunities to continue to drive the brand’s growth organically by leveraging our proprietary technology platform.”
In 2018 Future paid £100m for the B2C (business-to-consumer) arm of leading US digital media publisher Purch.
The deal added popular US tech and science platforms such as Tom’s Guide, Tom’s Hardware, Space.com and Live Science to Future’s portfolio.
Last summer Future bought SmartBrief, the Washington DC-headquartered digital media publisher, for an initial sum of $45m (£37.2m).
As a result, 60% of group revenue was derived from its US operations in the six months to the end of March. During the period its US interests also continued to perform better than the UK, with revenue up 53% to £85.9m against an 11% increase to £58.4m for the UK.
Future employs more than 1,200 people and publishes around 150 titles following a spate of acquisitions, including TechRadar and PC Gamer to Classic Rock and FourFourTwo.
In April it acquired TI Media, the London-based publisher, for £140m in a move which added 38 brands such as Decanter, Country Life, Homes&Garden and Woman & Home, to its portfolio.
