UK-based New Media Age and The Lawyer business publisher Centaur wants to double the size of its business within just three years, company executives have told investment analysts.
That will involve doubling the proportion of Centaur revenue contributed by digital from the current 26 percent (FY 2011) to 50 percent (FY 2014).
If Centaur closes more print mags in favour of websites, as it did with New Media Age, some of this may happen by default. “(We) can yield twice as much from digital (advertising) as from print,” MD Tim Potter (pictured) told analysts.
Part of the planned growth will come from new paid digital services, like The Lawyer‘s work winning tool, Employee Benefits‘ cost-saving tool. “Selling paid-for services could generate £5 ($7.86) million a year of new paid-for revenues,” MD Simon Middelboe said.
Centaur is planning new niche sub-brands in print, sales lead generation services allied to its websites (like The Engineer’s Source database) and sponsor-led events.
It is also mulling acquisitions of subscription-based learning services, performance measurement tools and paid news and deals databases.
Digital revenue in Centaur’s publishing division is scheduled to be £10.2 ($16.03) million for FY 2011. But print still makes up half of Centaur’s publishing revenue.