Time Out Deals Shows Exceptional Growth

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Strong Results in First Month of Trading

Press release:

12th July 2011

One month after announcing its entry into the group-buying phenomenon originated by sites such as Groupon and LivingSocial, Time Out has achieved over 130,000 sign ups to its daily deals lists.

What’s more, in a survey conducted last week in partnership with You Gov, Time Out Deals was found to have 11% awareness amongst online Londoners, making Time Out Deals the 4th in the market on awareness.

In terms of deal types, 53% of online Londoners are interested in restaurants & bars, 49% holidays and city breaks and 45% theatre and musicals. Beauty products & services (including cosmetics, haircuts, and makeovers) were rated much lower with interest with interest from 25%

Andrew Booth, Time Out’s Director of Marketing said; “we knew when we launched Time Out’s deals business that people would pose the question” why is Time Out going into such a crowded space?”  But we genuinely believed that we had something unique to offer.

The phenomenal results in terms of subscribers and awareness, seen in such a short time, is a fantastic demonstration of the power the brand has in terms of being connected to our London audience as well as London business and cultural partners in the world’s most vibrant city. 

So far we have proven that we can carve out a space and above that, one that has significant scale. This is a key phase of our overall digital growth strategy, being implemented in the UK first as we continue to drive towards having a monthly audience of 50M across our worldwide portfolio.

E-commerce Director, Paul Shaw, said “The growth of Time Out Deals so far has been largely down to the intimate understanding of London that Time Out has developed over the past 43 years. It has also been significantly accelerated by our existing relationships with an excellent range of business partners.

We are delighted at the level of consumer awareness we have achieved after just one month and we are also pleased at the ease with which deals have integrated with our existing commercial activities. 

We are grateful to all those consumers and business partners who have invested their time and faith in us and we now look forward to working with them to further grow our business in the coming months.

Time Out Deals offer;

•    Exclusive access to Time Out Live events and unique London experiences

•    Preview and discounted tickets to our favourite gigs and West End shows

•    Discounts on London's best entertainment, restaurants, bars & shops

•    Great savings on recommended hotels and weekend breaks

•    Exclusive screenings and previews of the hottest films

The deals are publicised by;

•    Daily emails to a growing list of registered users

•    Prominent online coverage reaching 100,000 daily Time Out users

•    Blogs, tweets, Facebook, and viral marketing

•    Top offers are featured in Time Out’s weekly London newsletter which has over 200,000 subscribers

•    Opportunity to be featured in Time Out London magazine (depending on editorial fit)

ENDS

For further information please contact:

Time Out Group

Madelaine Bennett +44 20 7813 6180

madelainebennett@timeout.com

About Time Out

Time Out was founded in 1968 in London, and has since grown into a leading international multi-channel media company that spans 35 cities across 24 countries and provides the very best inspiration, information and booking opportunities in arts, entertainment, culture, food & drink, and shopping.

Time Out is uniquely positioned as a provider of local information and cultural guidance to consumers through a distribution network which incorporates city magazines, a comprehensive online presence, mobile applications, travel guides, events and partnerships. Time Out has a worldwide audience of over 16 million* across all these channels

Time Out has experienced high growth in digital, with global unique users per month up year-on-year to over 7 million, of which over 2 million are in London. Time Out online goes far beyond simply reproducing the features of the magazines, and delivers a vast array of unique local content and cultural insight, also enabling consumer bookings, and giving wide opportunity for engaging and debating with its audience.

Time Out also recently launched its location based mobile applications and has already experienced over 1 million downloads to date. Time Out magazines are published in 35 cities. In addition, Time Out also publishes a broad range of guides, including city guides to some 50 cities, translated into 10 languages, as well as a number of other entertainment, culture, and consumer guides.

Time Out Live - a new division of the brand - has quickly grown to be synonymous with unique experiences and unmissable events, all curated by Time Out.

This followed an exciting 2010 which saw Time Out awarded International Consumer Magazine of the Year at the Periodical Publishers Association (PPA) awards alongside the following highlights:

•    A global partnership deal with Nokia and the launch of iPhone and Android apps;

•    Time Out editions launched in 14 new cities including Boston, Sao Paulo, Rio de Janeiro, Melbourne, Brisbane, Perth, and Jerusalem;

•    The launch of a brand new print product – Time Out Style, a new fashion and design focussed magazine, debuted in Dubai with a view to launching in other territories in 2011;

•    100,000 attendees of Time Out Live events across the globe, including a Q&A session with Oliver Stone in London, Giles Peterson DJing at the Time Out Cafe in Tokyo and the premier of Animal Kingdom in Sydney.

Time Out’s core goal is to be the number one trusted choice for consumers seeking inspiration, information and booking opportunities relating to arts, entertainment, culture, shopping, and food and drink in the world’s key cities.


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