UPDATE: Future has just announced a strategic pivot as it grapples with a significant revenue decline. The company reported a 6% decrease in overall revenue for the year ending 30 September, totaling £739.2 million, attributed to the impact of Google AI Overviews on web traffic.
In a rapid response to these challenges, Chief Executive Kevin Li Ying revealed that Future is reducing its reliance on the traditional correlation between page views and revenue. This shift aims to adapt to changing consumer behavior, as users increasingly rely on AI for information rather than visiting publisher websites.
The financial report shows profit before tax down 11% to £91.9 million. However, despite these declines, Future’s adjusted operating profit margin remains steady at 28%, and shares surged 11% at market open this morning, reflecting investor optimism.
This urgent pivot includes the launch of the initiative called Future+, designed to counteract the effects of what the company refers to as “Google Zero”—the declining trend in Google search traffic. In just ten weeks, Future+ has attracted 67,000 new members, whose engagement sessions are reportedly four times longer than those of unknown users, promising increased revenue opportunities.
“Thanks to the scale and diversity of our audience, overall engagement has remained steady,” said Li Ying, emphasizing that only 16% of Future’s revenue is impacted by changes in website sessions.
Future’s B2C division experienced a 6% drop in revenue, with digital advertising in the UK suffering a notable 14% decline. In contrast, US digital advertising performed better, with a 6% decline observed. Overall, B2C digital advertising fell 9% year-on-year, but there are signs of growth in the second half of the year.
Despite these challenges, Li Ying remains optimistic, noting a strategic shift towards direct advertising, which has seen a 3 percentage point shift from programmatic to direct channels, resulting in an 8% year-on-year yield increase.
Future is also advancing its e-commerce initiatives, tapping into new customer bases through social platforms, generating over 0.9 million unique page views from curated collections. Additionally, the company has partnered with major tech and luxury groups to monetize visibility on large language models, enhancing their revenue streams.
In the B2B sector, Future’s revenue fell 13%, with a significant 10% organic decline in other revenue streams such as lead generation and events. However, the company remains committed to growth, targeting £20 million in annual savings by 2028, following a £2.7 million investment in redundancy costs during the 2025 financial year.
As Future navigates these turbulent waters, it is clear that the company is proactively seeking innovative solutions to sustain its business model in an evolving digital landscape. Watch for further updates as Future implements these strategies to reclaim its revenue momentum.
