VIDEO: Time Out founder Tony Elliott on growing the title in Asia

Time Out was founded in 1968 with a mere US$110. Elliott initially planned the publication as “a magazine for himself” featuring the things he was interested in.

According to Elliott he was going to call the magazine ‘Where It’s At’ but changed his mind at the last minute and decided on ‘Time Out’ instead.

Time Out, estimated to be worth US$47 million today, started migrating online in 1995. Elliot notes that the London website is currently attracting up to two million unique visitors and 12 million page views on a monthly basis.

The free app in London and New York has each generated nearly a quarter of a million downloads to date.

Elliott goes on to say that he does not see digital as a model different from print. He explains that because it is information, it does not matter what package it comes in.

“Digital is part of the spectrum of activity. It’s part of one brand and information source. I see Time Out as an information company,” he said.

Speaking of localised content in the markets where the title is published, Elliott points to the United Emirates where there is a low penetration in event culture and people just go to bars and restaurants. He says the starting point is the same, "it’s all about information and getting the best out of a particular city".

On his plans to expand the publication into Asia, and particularly North Asia, Elliott mentions Korea as a market he is keen to enter sooner rather than later. “We won’t set up in Korea alone. We’ll need to do it with a partner,” he said.