Sara Gualione Digiday has broken down the financial performance of different business units when Forbes prepares to go public.
Guaglione wrote: “This year, Forbes expects to generate US$138 million in media revenue (a 5% year-on-year increase), US$47 million in brand extension revenue (a year-on-year increase of 19%) and US$16 million in consumer revenue (a 75% increase) Year-on-year), according to its investors. The company expects its consumer revenue growth to slow in 2021 and 2022, while its media and brand extension revenue growth is expected to pick up or remain stable.
“According to investors, Forbes currently has 23,000 [digital] Subscribers and plans to eventually attract more than 1 million subscribers, although the company did not provide a specific timetable for achieving that goal. Another long-term goal is to reach more than 15 million registered users.
“Forbes hopes to find opportunities to launch consumer-centric paid products from the content it publishes, in order to increase its consumer revenue from the current 12% to eventually account for 38% of its business. Advertising revenue will increase from 65 percent of Forbes’ business. % Reduced to 45% (the rest will be made up of brand extensions).”
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