ABM membership dues down 39% in fiscal 2010

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New York—American Business Media's dues from members and associate members totaled $2.41 million in fiscal 2010, ended June 30, a drop of 39% compared with fiscal year 2009, according to the association's annual report released Monday. In the same time frame, ABM's overall revenue, which includes proceeds from events, dropped 42% to $3.17 million.

Despite the falloff in revenue, ABM posted a net increase in assets for fiscal year 2010 of $109,013 thanks to more than $2.5 million in cost-cutting, highlighted by a more than $1 million cut in marketing costs. Additionally, a net investment gain of $178,149 contributed to the surplus.

ABM hopes its membership rolls will expand in fiscal year 2011. “Several members have returned to membership after having taken hiatus in 2009,” the annual report said.

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