30. Advance Publications
U.S. 2010 digital revenue: $340 million-plus
Snapshot: The Conde Nast and Advance Newspapers parent is pushing to build up its digital ad revenues after years of using its magazine web sites mainly to drive print subscriptions. But it has taken a fairly basic approach with its apps, essentially creating exact replicas of its magazines as it has turned to Adobe to handle the backend for its titles.
Advance sold some of its holdings in Discovery Communications in December and said it would use the proceeds for “new acquisitions and investments.” It sent a very strong signal that the deals would likely be in the digital media space by handing former Yahoo M&A chief Andrew Siegel its top M&A job on the same day.
Key digital move in 2010: Last fall, Conde Nast restructured its digital operations for the second time in under two years, saying it wanted to “consolidate digital seamlessly into our businesses.” Four months later, top digital executive Sarah Chubb stepped down.
How we generated our estimate: Conde Nast CEO Charles Townsend said in October that digital revenue accounted for about 10 percent of Conde Nast’s overall sales. The magazine publisher’s overall sales are pegged at between $1.7 billion and $1.8 billion, meaning digital revenue could be as high as $180 million. Outsell estimates Advance Newspapers brought in about $160 million in online sales in 2009, a figure we adjusted to take into account the overall growth of the online ad market over the last year.