Imagine Publishing plans to invest $2.94 million in its current properties.
British magazine publisher Imagine Publishing announced a major investment £1.5 million ($2.94 million) into its own existing publications, both on and offline. The company, which publishes 20 magazines and operates 15 websites, will be heavily developing its internet presence with more content and innovation being added to its existing sites, like Digital Photographer and Play, and by opening new ones for original magazine brands that have yet to be published. With the rise of social networking sites and Web 2.0, Imagine will also launch technology and special interest community sites.
Imagine Managing Director Damian Butt commented on the importance of reaching out onto the internet and starting new brands. "Digital development is crucial to the future success of Imagine, and it's fair to say that even our print portfolio is likely to be dwarfed by the sheer size and diversity of our online and special digital projects over the next two years. Not only are we committed to ensuring our already successful magazines are well supported, we also see huge opportunities to move outside of our target markets and into new areas of expertise. There is no limit to what we can achieve. I think we've proved that already."