|THE CFO GROUP REPORTS POSITIVE RESULTS FOR SECOND QUARTER
|CFO magazine is performing very well despite economic downturn.
|August 20, 2008|
NEW YORK, NY, August 20, 2008 - The CFO Group, an Economist Group Business, reports positive results for the second quarter ending June 2008. “CFO magazine is performing very well in a difficult year for B2B media, with display pages holding at previous-year levels,” said general manager and publisher Frank Quigley. Year-to-date through June 2008, CFO carried 202 display pages compared with 204 in 2007, according to the IMS tracking service.
Across The CFO Group, which comprises CFO magazine, CFO.com, CFO Conferences, and CFO Research Services, advanced bookings for the third quarter ending September 30 are on track to exceed 2007 revenues. “This is in spite of the fact that we reduced the number of issues for CFO magazine to 11 in 2008,” said Quigley. “Our Web sales are gaining traction, especially with Webcasts and other sponsorships, and our research business is on track for a record year. As with other conference producers, CFO is experiencing some negative impact due to the economy and increased fuel prices, but overall, our franchise is performing well in stormy seas.”
This past July, The CFO Group garnered industry recognition by winning 14 editorial and design awards from the American Society of Business Publication Editors, more than any other organization. CFO was a finalist for two Jesse H. Neal Awards from American Business Media. In addition, CFO Conferences was named to the top 10 of Burson-Marsteller's Most-Valued Podium list.
Quigley acknowledges that “we are not immune to the pressures of downward economic cycles and do expect increased headwinds as the year advances, yet we continue to uncover sales opportunities as advertisers and sponsors appreciate the value of our decision-making audience.” To capitalize on those opportunities, CFO has revamped its marketing department to include business- and sales-development activities. “We've got some interesting programs in the pipeline, and anticipate creating more client-specific programs leveraging our content expertise in such critical topics as international financial reporting standards, XBRL, and fair-value accounting. In addition, our technology advertisers are continuing to invest in the CFO brand.” It is worth noting that CFO does not rely on automotive, travel, entertainment, or other categories that are especially hard hit in the current advertising downturn.
About The CFO Group:
CFO magazine, CFO.com, CFO Conferences, and CFO Research Services together make up The CFO Group, which is an Economist Group business. With a rate base of 450,050, CFO is the leading business publication for C-level and senior financial executives and thus provides a close-to-the-customer connection that extends through all business lines. In addition, it reaches an international audience of corporate leaders with its global group of magazines, including CFO Europe, CFO Asia, CFO China, and CFO Russia produced by B2B Media under license from CFO Publishing Corp. For more information, visit www.cfo.com.