Time Out Media Achieved Profitability in FY26
The media division improved margins through UK and US sales growth, offering a template for scaling digital content platforms.
Updated on Sept. 28, 2026 in Corporate Finance
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Time Out Group reported an adjusted EBITDA profit for its media division in FY26, alongside total group revenue of £72 million. The division's return to profitability was driven by a 17% revenue increase to £21 million and a targeted cost-efficiency program.
Why it matters
The shift highlights how operators can balance audience expansion with operational discipline to reach break-even status. By leveraging both owned-site assets and capital-light franchise models, the company scaled its reach while managing overhead costs.
Time Out Media generated £21 million in revenue, a 17% increase that helped the unit reach profitability. Across the entire group, revenue reached £72 million for the year ending 30 June 2026, supported by an expanded network of 13 market venues.
The players
Time Out Group
A global media and hospitality business operating a digital discovery platform and a network of food and cultural markets.
Oakley Capital
A private equity firm providing growth capital and institutional backing to mid-market companies.
The details
The media division improved its financial standing by accelerating sales growth in the UK and US markets. Simultaneously, the company scaled its physical footprint to 13 locations, employing a mix of company-owned venues and capital-light franchise agreements to limit capital expenditure. These efforts were bolstered by a wider strategy to convert digital engagement, reaching 2.5 million active registered users.
Timeline
December 2025: The company issued conversion shares to Oakley Capital and secured £6 million in growth capital.
FY26: The media division returned to adjusted EBITDA profit.
30 June 2026: The financial year for Time Out Group concluded.
Market Landscape
The group's performance follows the documented trend of integrating digital advertising models with physical experiential venues. This strategy mirrors the broader industry move to reduce reliance on single-channel revenue by leveraging digital reach to drive traffic into managed physical assets.
Operators looking to scale should evaluate whether their current revenue growth is outpacing their cost-efficiency programs. The effective use of capital-light franchise models should be assessed as a method to expand brand footprint without overextending balance sheets.
The takeaway
Achieving profitability requires a rigorous commitment to cost-efficiency even while scaling revenue. Operators should monitor the company's upcoming senior debt refinancing as a key indicator of its long-term financial stability.
Further reading
For more on managing growth capital and profitability, explore our Corporate Finance section.
Source note: This article includes information reported by Financial News.
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