After a quick glance at the figures, it looks like overall they are down YOY, with the only benefit is that their net debt has been reduced by 29%, which may explain why their profits are down.

With their notes, they're up in terms of subscriptions but are facing huge challenges with the USA due to the recession. Online advertising revenue has now increased and is close to a quarter of all advertising revenue generated.

More info at http://www.futureplc.com/future/news/finnews_story.jsp?type=news&ref=144&year=2009&month=11

Overall, I think they've had a solid performance really. Considering how volatile the market is at the moment, for them to even make a YOY decline and not be out of business is impressive. Thoughts?

# Online now 23% of advertising (2008: 19%)

Is really important, especially as their only stand alone websites are GamesRadar and CVG.

I'd imagine they get a fair bit through the Official Magazine's websites as well. The ONM website is pretty lively most of the time.

Even so, it is impressive how much advertising is coming from the web... but equally it shows that the rates for paper must be much higher considering the visitor figures for CVG/GamesRadar.

The advertising figure isn't hugely surprising...The two future publications I read regularly, EDGE and PCG UK, have been making an obvious effort to bring most of their community to their websites, and it's working out really well for them from what I can see.
Considering the current financial climate, it looks like future are doing just fine...Thankfully, like pornography and deserts, there are some things that we love even during recessions :P

I found the mention of Qore interesting. I don't currently have a PS3, but gather Official PlayStation Magazine HD hasn't launched in Europe yet?