Insider Media Ltd has four core strengths - a loyal bedrock of advertisers who recognise the response the magazines bring them; the must-attend events for business leaders in key sectors, a growing subscriber base for its print and on-line products which continues to grow and its experienced and committed staff.
Together, these four strengths have been the driving force behind a steady increase in turnover, profit, margin and cash generation over the last five years.
In 2006, revenue grew by 24% and in 2007 by 29%, reflecting growth in sales performance in all regions, from every division and by the company’s expansion into new regions. Those increases in turnover were translated into 77% and 70% increases in profit respectively+. The company achieved strong revenue growth in 2007 from its three core divisions:
- Insider Magazines up 32%
- Insider Events up 23%
- Dealmaker Guides up 35%
The management team came together in 2002 when the company was loss-making. Since then the revenue has increased by 183% and profit by 563%. The rate of profit growth has accelerated since the management buy-out in 2005, reaching £1million in 2007.
Profit Growth
- 2005 +£146k
- 2006 +£256k
- 2007 +£411k
The company is also highly cash generative which puts Insider in a strong position to make acquisitions should the opportunity arise to purchase related, business-focussed operations which enhance shareholder value.
A new regional Insider magazine was launched into the South West, based in Bristol, during 2007 and achieved a profitable first issue. The South West launch followed the successful launch in 2005 into Wales, where the magazine is now firmly established. Together these new divisions have significantly improved the ability of the business to sustain strong profit growth.
The monthly magazines have an increasing readership and a growing subscriber base. Independent readership research carried out by GKNOP in 2007 revealed that Insider has four regular readers per copy, an increase of 1.5 readers per copy in the last two years. Subscriptions increased by 16% in 2007.
The GKNOP research revealed that a key reason for reader loyalty and the value they place on the magazines lies in the unique regional content, unavailable elsewhere.
Insider has a number of established annual editorial features such as regional listings of the Top 500 companies, the fastest-growing 100 companies, the 100 richest executives and the 100 most powerful. As a result a high proportion of subscribers retain their magazines for well over a year.
The Editors of each regional magazine benefit from having a team of researchers who carry out bespoke research for signpost features throughout the year. The Sales Managers are able to secure strong advertising revenue pre-book and the popularity of the major editorial features means sales teams frequently start the month with 60% of the revenue required sold in advance.
Insider is also an online publisher with Insider Weekly, a well used update service with the latest deals and business news. Following requests from advertisers a limited amount of premium rate advertising is being placed within the bulletins. A daily online service has been launched in the North West in response to reader demand.
The company also publishes the extremely successful Dealmakers Guides. There is a guide for every region of the UK and Insider has been able to launch Dealmakers Award Dinners in regions where Insider magazine does not currently circulate, using the directories to provide coverage of the events.
The Contract Publishing division won several new blue chip clients in 2007 including LDC, Target and Manchester Metropolitan University.
A central management strategy has been the recruitment and retention of top quality staff. Each staff member has a personal development plan which links progress and remuneration closely to revenue and profit growth.
The watchword of quality in our print products, online, in our events and among our committed and highly professional editorial, sales, production, event and marketing staff is key to continued future growth.
Marlen Roberts, Managing Director
+Full Year EBITDA
Also in: Insider: Annual Reports & Accounts
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Who We Are: A Company Wholly Owned By Its Management
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Chairman's Statement
Insider Media Ltd, the highly successful and expanding regional business magazine publishers, celebrated five years of growth in 2007 by achieving profit of £1 million for the first time.
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The People: Management Team
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The People: The Board
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Regions
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Publications
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Events
Insider events are the market leaders in each of their core regions.
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On-line Services
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Membership/Subscriptions
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Subscription Graph
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Marketing
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Contract Publishing
"Insider helped us launch Rainmaker in 2004 and we've stayed with them ever since because of the quality of the finished product they deliver for us, and because of their continuous innovative and creative spirit."
Phil Burns, Partner, Clearwater Corporate Finance -
Group Profit & Loss for 2007
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Balance Sheet for 2007