Publishing Revenue Slips 3.2 Percent for MSLO in Second Quarter
Meanwhile, merchandising revenue was up 34 percent.
Martha Stewart Living Omnimedia, Inc. reported revenue of $54.9 million for the second quarter of 2011 compared to $55.3 million during the same period last year.
MSLO publishing revenue was $34.1 million, down 3.2 percent from the same period last year. Merchandising revenue jumped 34 percent to $8.5 million.
Due to increased production and editorial expenses and the time of circulation expenses, MSLO’s adjusted EBITDA was at a loss of $1.6 million in the second quarter of 2011 compared to a $2.4 million gain during the same period last year.
"While we’re seeing choppiness across key categories in print advertising, we’re also seeing robust consumer engagement across our print and web properties," said
executive chairman and principal executive officer Charles Koppleman. "Subscription revenue remains strong, and digital ad revenue is up 5 percent, tracking continued growth in our Internet user metrics."
Unique visitors across MSLO’s websites increased 32 percent and page views were up 26 percent in the second quarter. The company introduced a redesigned version of Martha’s Everyday Food app for the iPhone and iPod touch, as well as two new apps: Martha Stewart Cocktails and Whole Living Smoothies apps.
In May, MSLO tapped Oxygen Media co-founder Lisa Gersh as president and COO, with a plan for making Gersh CEO within 12 to 20 months of her hire.