Today Centaur Media, behind popular sites like Marketing Week, eConsultancy and The Lawyer revealed their revenue for the first half of 2023 was £19.3M, a 3% decrease compared to 2022.
Profit after taxes was reported as £1.9M, a 171% increase over the previous year.
Centaur Media trade as $CAU on the London Stock Exchange and are one of my favourite brands to follow because they’re behind so many content sites.
A few of the sites we track for them include The Lawyer:
I should note that unlike the first two screenshots, this last one is not from the homepage of Econsultancy but rather the articles section of their website. The homepage is much more focused on converting people into customers for their marketing training.
Centaur Media are also behind a number of non-content businesses, like Fashion PR business FashionMonitor and B2B marketing agency, ReallyB2B.
Of course, with this being Detailed, I’m much more interested in what is happening with their content sites.
Revenue for The Lawyer increased 21%, helped significantly by their The Lawyer Awards event which generated £1.2M in revenue.
The revenue generated by premium content on the site grew 11% to £2.5M which is thanks to a subscription program called Signal that gives industry benchmarks and strategic insights to people in the legal industry.
According to estimates from Similarweb, search traffic drives the majority of visitors to the site (59.3%) but direct traffic is significant as well which you might expect, driving around 34% of visitors.
Revenue driven by Econsultancy reduced 9%, “mainly because of a fall in advertising related Marketing Solutions revenue and customer-driven delays on execution“, though this was offset by increases in subscription revenue.
They didn’t reveal too much about the success of Marketing Week, though did mention that due to uncertainty in the advertising market, the brand saw a 36% decrease in non-strategic marketing revenue.
If Similarweb numbers are to be believed, then they aren’t as reliant on search traffic for their success with MarketingWeek as other content sites:
Centaur Media perhaps aren’t as interesting as other digital goliaths like Future and DotdashMeredith but it’s always nice to get financial insights into companies that are very reliant on search traffic and publishing content online.
Part of today’s announcement included a mention on how the company have been focused on more profitable revenue sources and managing expenses, and their increase in overall profits certainly aligns to that.