Time Out Franchise Partnership with RBA in Spain
Time Out Group plc has entered into a long-term franchise partnership with RBA, a major Spanish-language publishing group, for its media operations in Spain, encompassing Time Out Barcelona and Time Out Madrid. This strategic move allows RBA to publish Time Out in Spain and pay the Company a franchise fee, while Time Out Group will retain ownership and operation of its Time Out Market ventures in the country. The company anticipates this franchise model will accelerate brand growth by leveraging RBA's extensive reach, local expertise, and multi-platform capabilities, with both entities collaborating on marketing initiatives.
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Time Out Group plc (AIM: TMO), the global media and hospitality business, is pleased to announce that RBA has acquired Time Out's media operations in Spain, including Time Out Barcelona and Time Out Madrid, under a long-term franchise partnership.
Under the agreement, RBA will continue to publish Time Out in Spain, ensuring the continued presence and growth of the brand in the country and pay the Company a franchise fee. Time Out Market operations in Spain are not part of the transaction and will continue to be owned and operated by Time Out Group.
RBA is one of the largest Spanish-language publishing groups globally, with a portfolio of more than 25 brands, including international titles such as National Geographic and InStyle. The company reaches an audience of around 60 million people each month across its media platforms.
The Company believes that transitioning to a franchise model in Spain will enable the brand to grow faster by benefiting from RBA's scale, local expertise and multi-platform capabilities. Time Out and RBA will collaborate on marketing and other initiatives.
Time Out has built a strong presence in Spain, with Time Out Barcelona https://www.timeout.com/barcelona and Time Out Madrid https://www.timeout.com/madrid, becoming trusted guides to city life for local audiences and visitors alike. The Group is proud of the business established in the market and sees significant opportunity for further growth in Spain under RBA's stewardship.
As part of the transaction, Time Out Spain's media team will transfer to RBA, continuing their roles within the new structure. Operations will move to RBA's offices in Barcelona and Madrid.
RBA sees Time Out as a strong addition to its portfolio, bringing a distinctive mix of digital content, experiential platforms and global brand reach, with Time Out engaging over 240 million people worldwide each month.
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