The company has notched up six million downloads of its magazine apps in the month since Newsstand went live, generating $1 million of revenues, according to The Guardian. 22% of downloads came in the UK, with 38% in the US and another 40% from elsewhere in the world.
It’s a bright spot in some otherwise miserable results, with the company reporting a £19.3 million annual loss for its last financial year, thanks in part to the sluggish performance of its US division.
Apps look set to play a big role in the company’s attempted turnaround there, though. “We are migrating the US business to a predominantly digital model and have taken steps to de-risk remaining print properties,” the company says in a statement.
Mags doing well on Newsstand so far for Future include MacLife, T3, Total Film, Fast Car and Edge, according to the report.