Gigaom

Magazine publisher Future says its tablet magazines are earning it $1 million per month in gross revenue.

It is now selling 239,000 tablet magazines per month, led by T3 in the UK (30,000) and MacLife in the States (65,000), plus dozens of other mostly replica editions amongst its more than 100 tablet titles.

CEO Mark Wood says (via announcement):

“Around 90 percent of our digital edition sales are to new customers and 40 percent are outside our core UK and US markets.

More than 60 percent of new customers sign up for subscriptions and the renewal rate is running at over 60 percent.”

The publisher rushed over 60 replicas on to iTunes Newsstand when it launched in October 2011 and is slowly re-tooling more as native interactive editions.

Future digital revenue grew 30 percent in the last year to £20.6 million, 18 percent of the total, which nevertheless declined…

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