In 1992, with Laurence Aston, he co-founded the audio journal Unknown Public. Aston and Walters also founded the SoundCircus label with producer James Mallinson and pianist Joanna MacGregor.
In 1997, after working for a number of newspapers and magazines, including the Architectural Review, he joined Eye magazine as managing editor. Walters has been the editor of Eye magazine since the publication of Eye no. 33 in 1999. He became its co-owner (with art director Simon Esterson) after a management buy-out in 2008. Walters also writes about creative music (including jazz, electronica and world music) for The Guardian.
Walters has been a guest lecturer at colleges and conferences internationally, and he served as an external examiner at Central Saint Martins from 2003-06. Walters has also served as chair for several international juries, including one for the inaugural European Design Awards and also the 24th International Biennial of Graphic Design. He has received six nominations for the UK’s BSME (British Society of Magazine Editors) Awards, and won in 2002. In January 2010, Walters was the co-curator of a one-day conference about music and design at St Bride Library, London.
Walters is married to writer and journalist Clare Walters and has two daughters, circus artist and costume designer Jessie Rose, a member of the hula hoop trio Hoop La La (semi-finalists, Britain’s Got Talent 2008) and Rosie Walters.