In a year where most media companies measured successes not with how much they gained but with how little they lost, Meredith Corporation stood out not only for the awards they won, but for actually gaining ad pages overall, increasing total ad revenue, and integrating and expanding its Web division. Who thought that titles like Better Homes and Gardens and Family Circle would totally make bank against Time Inc. and Condé Nast’s breadwinners who all had to scale back this year?
Read the official press release after the jump.
• According to our PIB estimates, Meredith National Media Group magazines will finish 2009 with an increase of 5 percent in total advertising revenues versus the same period last year. This compares with a 19 percent overall decline for the industry (see attached chart);
• Among Meredith’s leading media brands, five titles — Better Homes and Gardens, Family Circle, Fitness, Ladies’ Home Journal and More — will finish 2009 with an increase in both advertising pages and revenue performance versus the previous year.
• Family Circle magazine (3.8 million rate base) will finish 2009 with double digit increases in both advertising pages (11.3 percent) and advertising revenues (17 percent) versus the same period in 2008.
• Meredith Integrated Marketing (MIM) expanded its portfolio of assets by forming a strategic relationship with The Hyperfactory, a leading global mobile agency. Additionally, highly regarded ad agency executive Martin Reidy, was named President for MIM.
• During 2009, MIM increased its revenue performance by 13% over the same fiscal period in 2008, and was recently named CRM marketer for Chrysler. In addition, MIM with a client base of over 200 continues to work with market leaders such as Kraft, where its work has included the highly successful “Food and Family” magazine as well as the Kraft I Food App on the iPhone.
• Meredith 360 currently serves dozens of clients ranging from Maybelline to Procter & Gamble and along with Meredith Corporate Sales has grown its integrates sales business to account for one-fifth of all advertising revenue. In 2009 it launched the breakthrough web series “The Broadroom” an original scripted series from “Sex and the City” author Candace Bushnell, presented by Maybelline.
• The Meredith Women’s Network, which encompasses the company’s broad portfolio of female focused web and social media sites achieved all-time highs for traffic in November. Based on Omniture, the MDP nationally branded websites increased by 30 percent and reached more than 22 million unique visitors. The sites also had more than 28 million page views during this period.
• The Meredith Women’s Network now features over 60 websites such as BHG.com, More.com, LHJ.com, and Parents.com to social media sites including the recently launched MixingBowl.com, Recipes.com, and soon to be introduced “Momster.com,” a social media site powered by Family Circle for the moms of teens and tweens.
• Most recently, Meredith was among the five founding members of a new cross-industry initiative to create an electronic newsstand and delivery system for the next generation of digital readers and devices.
In the coming months Meredith will continue to build on this performance, and we would welcome the opportunity to answer any questions you may have regarding our strategic priorities and initiatives.