Game Group losses for Ziff Davies

via Games Industry


Ziff Davies Media has reported a 70 per cent rise in profits for the fourth quarter, despite a loss for its Game Group.

Profits reached USD 14.3 million (EUR 10.7m) for Q4, compared to USD 8.4 million (EUR 6.3m) for the same period last year.

Ziff Davies' Game Group publishes US magazines Electronic Gaming Monthly and Games for Windows, as well as consumer website 1.UP.com.

Fourth quarter revenues for the videogame division were down from USD 11.6 million (EUR 8.7m) compared to USD 14.3 million (EUR 10.7m) for the previous year, with profits down from USD 3 million (EUR 2.2m) in 2005 to USD 1.6 million (EUR 1.2).

A decline in print advertising was given as the main reason for loss, although the company said this was offset by growth in online revenue of 76 per cent.

Ziff Davies closed the Official US PlayStation Magazine in January of this year.

Profits for the company overall increased 57 per cent to USD 27.1 million (EUR 20.4m), over USD 17.3 million (EUR 13.03m) in 2005, with consolidated revenues up to USD 181 million (EUR 136.3) for the whole of 2006.