Two large media companies reported second quarter earnings today, and the results couldn’t be more different: Martha Stewart Living Omnimedia (MSLO) reported a loss of $800,000 on revenues of $55.3 million, while IAC reported a $13.6 million profit on revenues of $402 million.
Despite revenue increasing at IAC by 18 percent, the $13.6 million profit was 67 percent less than Q2 2009’s profit of $40.8 million.
IAC’s Media segment, which includes The Daily Beast among other properties, lost $3.9 milliona far less severe loss than the $10.2 million the media segment lost in Q2 2009.
At MSLO, expenses across all segments remained mostly steady as revenue dropped in publishing and broadcast and rose online. However, the company says that ad pages in the August Martha Stewart Living issue are up 29 percent and the company plans to launch a UK edition in September.