Maverick Dennis Publishing founder and owner Felix Dennis has bullishly predicted his company will make 40 percent of its advertising revenues from online next year. A noted printophile, 61-year-old Dennis tells Telegraph.co.uk today that his old-fashioned ways don’t “interfere with making Dennis a truly multimedia publisher”… “We worked tremendously hard on making every Dennis website profitable. Our competitors average about 15 percent from online. I guess we’ll find out who’s right about multi-platform, ha?”
E-zines, like the online-only lads’ mag Monkey, and downloads are apparently his weapons of choice in this digital expansion. But the 40 percent forecast may actually be a downward revision for the company — 12 months ago Dennis CEO James Tye told Press Gazette that the company then made a third of its ad revenues from online and was on course to make 50 percent from online by 2009.
Dennis seems certain that while dozens of magazines will either go online or “fade away” during the downturn, he has no plans to take any of his own titles down that route. He is even in the market for acquisitions: with turnover of £70.3 million and pre-tax profits of £7 million according to accounts at Companies House, it has a little money to play with. “We’re lucky enough to have plenty of cash and I find myself constantly drawn to rivals experiencing difficulties,” says Dennis. “No one else is taking advantage of the web like we are and we could turn plenty of companies around.