Canadian Publishing Industry News
26 November 2021,     TORONTO
Zoomer Media revenues decline
 
 
Zoomer Media’s revenues declined to $48.9 million from $50.7 million in 2020, for the year ended August 31. Operating expesnses declined to $39.6 million from $40.2 million while net income dropped to $3.7 million from $4.6 million.

             Declines were reported for Zoomer magazine, On The Bay magazine, and Tonic magazine which Zoomer purchased in September 2020.

            For 2021, total revenues for the print operation declined 6.6%.

This was mainly due to the impact of COVID on advertising sales. The lockdowns also hit the travel and hospitality sectors, which are a key business for Zoomer. Operating expenses increased by 13%, mainly due to lower Aid to Publisher subsidy, the addition of Tonic, and increased circulation initiatives for Zoomer.

            For Zoomer magazine, subscriber fees increased 4.7% but advertising declined 20.4%.

 

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