Smiths News agrees new five year contract extension with Frontline and Seymour
New contract secures c.£215million of annualised revenues.
Smiths News is pleased to announce it has reached agreement with Frontline and Seymour to extend their magazine wholesaling agreement until April 2020.
This new agreement secures 42% share of the magazine market for an additional five years. The contract is valued at c.£215m pa (at FY14 values) equating to 15% of the total national newspaper and magazine distribution market. Frontline distribute titles from publishers H Bauer, Immediate Media and Haymarket, while Seymour distribute magazines on behalf of many publishers including Future Publishing and Dennis Publishing.
Smiths News has now secured c.£1.1billion per annum of revenues through to at least 2019, and in some cases beyond, equating to 77% of total sales.
Mark Cashmore, Group Chief Executive, commented:
"Today's announcement extends our relationship with two of our largest magazine distributors. With 90% of magazine distribution revenues secured to 2019 and beyond, our market leading proposition is now secured for the long term."
"With 90% of magazine distribution revenues secured to 2019 and beyond, our market leading proposition is now secured for the long term".