Martha Stewart Living Omnimedia and Meredith Experience Revenue Losses in 2011 Q1 and third fiscal quarter 2011.
Meredith sees five percent rise in non-political Local Media ad revenue.
Martha Stewart saw a rise in publishing revenue, reaching $34.66 million in first quarter 2011 from $31.36 million in the same quarter of 2010.
Broadcasting fell from first quarter 2010’s $12.09 million to $7.76 million in first quarter 2011.
Charles Koppelman, executive chairman and principal executive officer, says, “Higher publishing revenues included strong double-digit growth in digital advertising, while our broadcasting team is continuing to build an attractive block of programming on Hallmark Channel. We feel we’re positioned to deliver profitable growth as we execute on our business plan in 2011 and beyond.”
Meredith Corporation saw a fall in advertising revenue, dropping from 2010 fiscal third quarter’s $199.17 million to 2011 fiscal third quarter’s $185.91 million.
Circulation revenue also suffered, with $74.59 million in fiscal third quarter 2010 down to $67.6 million in fiscal third quarter 2011.
Meredith chairman and CEO Stephen M. Lacy says, "As previously communicated, National Media Group advertising revenues were lower. We believe this was primarily due to belt-tightening by certain advertising clients facing sharply higher commodity prices.
However, net revenues per advertising page increased for the third consecutive quarter, and we see National Media group advertising revenue declines moderating as we move into our fiscal fourth quarter."
Meredith experienced a five percent gain in the Local Media Group non-political advertising revenue, up to $63.53 million in fiscal third quarter 2011 from $60.31 million in fiscal third quarter 2010.
On March 9th, Meredith Corporation launched a social commerce network
on through their Parents.com property. This network offers deep
discounts to members through the site and social media sharing