London—For the first time, UBM's online revenue has eclipsed its print revenue. In the first quarter, UBM's online marketing services revenue totaled $34.4 million, while the company's print marketing services totaled $30.8 million.
Online marketing services increased 11.2% in the first quarter compared with the first quarter of 2011. Print marketing services dropped 31.4% in the same time frame because of the combined effect of magazine divestments and decreased print advertising.
Overall, UBM's revenue increased 11.1% in the first quarter, to $414.8 million. Adjusted operating profit was up 25.8% to $88.1 million.
Both revenue and adjusted operating profit were driven largely by events. Event revenue totaled $193.3 million in the first quarter, or 46.6% of overall revenue. Event profits totaled $66.6 million in the first quarter, or 75.6% of overall adjusted operating profit.