Time Out (magazine)

Time Out magazine
Editor-in-chief, London Caroline McGinn
Deputy editor, London Jonny Ensall
Editor, New York Carla Sosenko
Frequency Weekly, monthly and quarterly
Format Culture, entertainment and events guide
Circulation 6.5 million
Founder Tony Elliott
Year founded 1968
Company Time Out Group Ltd.
Country United Kingdom
Based in London, England
Language English, multilingual
Website www.timeout.com

Time Out is a magazine published by Time Out Digital Ltd.[1] Created in 1968, the London-based publication has expanded its editorial recommendations to 107 cities worldwide, across 39 countries, with a monthly audience of 40 million readers across content distribution platforms including mobile, website, magazine and events.[2] In 2012, the magazine became a free publication with a weekly readership of over 307,000. In addition to print, the Time Out London website has seven million unique users and one million page views per day.[2] Time Out's global market presence includes partnerships with Nokia and mobile apps for iOS and Android operating systems.[3] It was the recipient of the International Consumer Magazine of the Year award in both 2010 and 2011 and the renamed International Consumer Media Brand of the Year in 2013 and 2014.[4][5]

History

Time Out started as a magazine created in 1968 by Tony Elliott, who used birthday money to produce a one-sheet pamphlet.[6] The first product was titled "Where It's At" ,before being inspired by Dave Brubeck's album Time Out.[7] The magazine was initially a counter-culture publication which took a non-conformist stance on issues such as gay rights, racial equality, and police harassment.[8][9] As one example of its early editorial stance, in 1976 London's Time Out published the names of 60 purported CIA agents stationed in England.[10] Early issues had a print run of around 5,000 and would evolve to a weekly circulation of 110,000 as it shed its radical roots.[9][11]

Elliott launched Time Out New York (TONY), his North American magazine debut, in 1995. The magazine procured young and upcoming talent to provide cultural reviews for young New Yorkers at the time.[9] The success of TONY led to the introduction of Time Out New York Kids, a quarterly magazine aimed at families. The expansion continued with Elliott licensing the Time Out brand worldwide spreading the magazine to 36 cities including Istanbul, Dubai, Beijing, Hong Kong and Lisbon.[9]

Additional Time Out products included travel magazines, city guides, and books.[9] In 2010, Time Out became the official publisher of travel guides and tourist books for the London 2012 Olympic and Paralympic Games.[12]

Time Out's need to expand to digital platforms led to Elliott, sole owner of the group until November 2010, to sell half of Time Out London and 66 percent of TONY to private equity group Oakley Capital, valuing the company at £20million.[13] The group, founded by Peter Dubens, was owned by Tony Elliott and Oakley Capital until 2016, the agreement provided capital for investment to expand the brand. Time Out has subsequently launched websites for an additional 33 cities including Delhi, Washington D.C., Boston, Manchester and Bristol.[9]when it was listed on London's AIM stock exchange.[6][13] In June 2016, Time Out Group underwent an IPO and is listed on London's AIM stock exchange.[14]

City editions

Time Out Hong Kong launch cover

Time Out London

The London edition of Time Out became a free magazine in September 2012.[8] Time Out's London magazine was hand distributed at central London stations, and received its first official ABC Certificate for October 2012 showing distribution of over 305,000 copies per week which was the largest distribution in the history of the brand.[15][16] This strategy increased revenue by 80 percent with continued upsurge.[17] Time Out has also invited a number of guest columnists to write for the magazine. The columnist as of 2014 was Giles Coren.[18]

Time Out London first issue

Time Out New York

In April 2015, Time Out switched its New York magazine to the free distribution model to increase the reader base and grow brand awareness.[17] This transition doubled circulation by increasing its Web audience, estimated around 3.5 million unique visitors a month.[19] Time Out increased its weekly magazine circulation to over 305,000 copies complementing millions of digital users of Time Out New York.[17][19] Free magazines are distributed at bars, restaurants, gyms, subway stations, and theaters and the web content separate from the magazine is free. In addition, a subscription service is offered to those that prefer the magazine to be physically delivered and paid subscribers have access to a digital edition of the magazine.[17]

Time Out New York Kids

In 1996, following the launch of TONY magazine, Time Out New York Kids was launched as a paid-for quarterly title available via subscription and news stand with a circulation of 55,000.[20]

Time Out Tel Aviv

Time Out Tel Aviv (in Hebrew) is sold once a week, covering the Tel Aviv, Israel, area.[21]

References

  1. ↑ "Oakley Capital buys stake in Time Out". Growth Business. 25 November 2010. Retrieved 15 June 2015.
  2. 1 2 "Gorkana meets...Time Out London". Gorkana. 26 January 2015. Retrieved 15 June 2015.
  3. ↑ "Time Out acquires Kelkoo Select". PE Hub. 12 December 2011. Retrieved 15 June 2015.
  4. ↑ "Time Out acquires Whatsonstage.com". Sports Techy. 23 January 2012. Retrieved 15 June 2015.
  5. ↑ "Worldwide brand of the year... again!". Time Out. 15 July 2014. Retrieved 15 June 2015.
  6. 1 2 Robert Budden (24 September 2012). "Time Out abandons its cover price". Financial Times. Retrieved 16 June 2015.
  7. ↑ "Time Out Group Ltd.". Reference for business. Retrieved 16 June 2015.
  8. 1 2 "Time Out makes capital gains as free magazine". Campaign. 26 September 2013. Retrieved 16 June 2015.
  9. 1 2 3 4 5 6 Lucia Moses (27 June 2011). "Can Time Out's Tony Elliott weather the storm? The founder of iconic magazines cedes control to keep his dream alive". Adweek. Retrieved 16 June 2015.
  10. ↑ Frum, David (2000). How We Got Here: The '70s. New York: Basic Books. p. 51. ISBN 0-465-04195-7.
  11. ↑ http://www.marketingweek.co.uk/item/58896/259/263/3 Reynolds, John, "Moving Beyond its City Limits", Marketing Week, 6 December 2007.
  12. ↑ Catherine Neilan (17 March 2010). "Carlton, Wiley and Time Out official publishers for London Olympics". The Bookseller. Retrieved 16 June 2015.
  13. 1 2 "Time Out publisher sells 50% stake". BBC News. 26 November 2010. Retrieved 26 November 2010.
  14. ↑ Hussain, Noor Zanib (9 June 2016). "Time Out to Raise £90 Million in London Listing". Reuters. Retrieved 22 September 2016.
  15. ↑ Mark Sweney (1 August 2012). "Time Out goes free, London edition of listings magazine to drop cover price". The Guardian. Retrieved 16 June 2015.
  16. ↑ "Free Time Out hits three-month circulation target in first month". mediaweek.co.uk.
  17. 1 2 3 4 Caysey Welton (2 April 2015). "Time Out New York Transforms Into A (Mostly) Free Weekly". Folio. Retrieved 16 June 2015.
  18. ↑ Arif Durrani (11 March 2014). "Time Out hires Giles Coren as columnist". Media Week. Retrieved 16 June 2015.
  19. 1 2 Keith J. Kelly (1 April 2015). "Time Out New York switching to all-free distribution model". New York Post. Retrieved 16 June 2015.
  20. ↑ "Time Out New York Kids". Time Out. Retrieved 16 June 2015.
  21. ↑

External links


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