Friend

What Friend does

Friend Studio is a London-based corporate communications agency founded in 2004, operating as Friend Studio Limited, that specializes in digital-first annual report design, sustainability and ESG reporting, brand development, and investor communications. The firm serves enterprise clients primarily in the FTSE 100 and FTSE 250, alongside private equity firms and large private companies, with named engagements spanning Shell, Standard Chartered, Experian, Airtel Africa, Corteva, Rentokil Initial, Mitie, Taylor Wimpey, Klöckner Pentaplast, Ultra, and multiple PE houses (August Equity, Oakley Capital, Bregal Investments, Forbion, Fortino Group). Operating geographies include the UK, the EU, and Sub-Saharan Africa.

The company's core technical asset is Reportl, a proprietary next-generation digital-first design software that publishes content natively in XHTML rather than converting PDFs, enabling simultaneous multi-format output (digital HTML, PDF, print, and iXBRL-tagged ESEF/UKSEF filings) from a single source. This architecture supports WCAG accessibility compliance, mobile responsiveness, AI-readable structured content, and regulatory compliance with ESEF, CSRD, and ESRS. Reportl is complemented by integration partnerships with the dominant reporting delivery platforms, Workiva and CtrlPrint.

Friend Studio operates on a project-based professional services revenue model with quote-based enterprise engagements and no public pricing. Distribution is exclusively direct enterprise sales, targeting FTSE 100/250 issuers and PE firms through relationships, referrals, and thought leadership — anchored by the annual 'Top Dogs' FTSE 100 reporting analysis event and an active webinar program. The firm maintains ISO 27001 certification and GDPR compliance, and in 2025 won ten awards at the Corporate & Financial Awards including the Grand Accolade for Best Annual Report of 2025 for Oakley Capital Investments.

Name

Friend

Legal name

Friend Studio Limited

Website

https://friendstudio.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Friend Studio is a London-based corporate communications agency designing digital-first annual reports, sustainability/ESG reporting, and brand communications for FTSE 100/250 companies and private equity firms using its proprietary Reportl software platform.

Ownership category

akta.pro rank

Product category

Corporate Communications and Annual Report Design

NAICS

Management Consulting Services (54161), Custom Computer Programming Services (541511)

SIC

Services-Management Consulting Services (8742), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro industry

PRIMARYBPAHACAK

Sustainability & ESG Consulting

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/Management Consulting

SECONDARYHDAEAMAJ

Data Storytelling & Collaborative Analytics

Hardware, Technology & Telecom/Enterprise Platforms & Databases/Business Intelligence (BI) Tools

Keywords

• Corporate communications services
• Annual report design
• Sustainability reporting
• Digital-first reporting
• Brand development services

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Annual Report Design and Production: Project-based engagement for corporate annual report design and production, including digital-first reporting, sustainability reports, and regulatory filings. Engagements span FTSE 100, FTSE 250, and private company clients.
2. Corporate Communications Services: Strategic brand development, website design, investor communications, and sustainability reporting for corporate clients across multiple industries.
3. Sustainability Reporting: Specialized sustainability and ESG reporting services including sustainability strategy development, reporting, and digital-first sustainability communications.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Friend Studio is a corporate communications agency that designs and produces annual reports, sustainability/ESG reports, brand identities, corporate websites, and investor communications for FTSE 100, FTSE 250, and private equity clients. Its proprietary Reportl platform enables a digital-first, native XHTML approach that simultaneously outputs accessible, AI-readable digital, PDF, print, and iXBRL-tagged reports from a single source of content. The firm combines strategic narrative development with creative design and regulatory compliance expertise (ESEF, CSRD, UKSEF, WCAG).

Product overview

Friend Studio operates as a corporate communications agency offering a dual approach: strategic creative services combined with proprietary digital reporting technology. The core service, Friend Studio, provides annual report design, sustainability reporting, brand development, and investor communications for FTSE 100 and private equity clients. Reportl is Friend's proprietary next-generation digital reporting software platform that enables AI-readable, accessible, multi-format report delivery (digital, PDF, print, iXBRL) from a single source content. These offerings are integrated: Friend Studio uses Reportl to deliver digital-first reporting services, while also offering standalone brand development and the annual Top Dogs FTSE 100 reporting analysis.

Differentiator

Problem solved

Functional benefit

Brands

• Reportl: Next-generation digital-first design software for creating annual reports and sustainability reports in multiple formats simultaneously.

Quantifiable outcome

• Airtel Africa's 2025 report experienced a 351% increase in active users compared to previous year's summary digital report
• +2 more outcomes

Named customers19 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability6 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• CtrlPrintcoreTechnology or IntegrationReporting delivery platform partner. Friend Studio works with all leading reporting delivery platforms including CtrlPrint for delivering multi-format reports to clients.
• WorkivacoreTechnology or IntegrationReporting delivery platform partner. Workiva is one of the leading platforms Friend Studio works with for ESEF reporting and compliance.
• ReportlcoreTechnology or IntegrationDigital reporting software platform partner. Reportl is the next-generation digital-first design software that Friend Studio uses to create reports for clients, enabling simultaneous multi-format output from single source content.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Instinctif Partners: International corporate communications and investor relations consultancy with annual reporting, sustainability, and ESG advisory — overlaps Friend on listed-company communications and reporting mandates.
• Stratos: UK corporate communications and reporting agency serving listed, PE, and large private clients with annual reports, brand, and digital communications — closely overlaps Friend's mid-cap and FTSE 250 sweet spot.
• Black Sun Global: UK-headquartered corporate reporting specialist serving FTSE and international listed clients with annual reports, sustainability/ESG reporting, and digital reporting services — a direct peer in scope, client profile, and delivery model.
• Luminous: London corporate reporting and design agency working with listed and private companies on annual reports, sustainability reports, and investor communications — directly comparable in client type and creative/reporting mix.
• Emperador: London-based corporate reporting and communications agency producing annual reports and sustainability reports for listed and PE-backed clients — competes head-to-head with Friend Studio on FTSE and mid-cap mandates.

Others

• Workiva: Cloud platform for SEC, ESEF, and sustainability reporting with native XBRL tagging — Friend Studio is both a partner and a potential competitor if Workiva expands into design-side capability.

Broad incumbents

• Design Bridge and Partners: Global brand and design consultancy with a strong sustainability and corporate communications practice serving FTSE/global brands — a larger incumbent with broader scope, overlapping in corporate reporting and brand strategy.
• FTI Consulting: Global advisory firm with a strategic communications segment serving FTSE and global listed clients on annual reporting, ESG, and investor communications — competes with Friend at the top of the FTSE 100.
• Conran Design Group: London heritage design agency with corporate reporting and brand transformation work for listed and PE-backed clients — comparable client base but a broader creative-services portfolio.
• Superunion: WPP-owned brand and design consultancy with a corporate reporting practice serving global listed and PE clients — competes with Friend on FTSE annual report and brand mandates at greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubevimeo.com/friendstudiolondon
• LinkedInlinkedin.com/company/friend-studio

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Friend