Driven By Print, Martha Stewart Reports 47 Percent Revenue Jump in 2nd Quarter
By Matt Kinsman
While many publishers continue to shift their emphasis from print to Web (see Teen People to Fold …), Martha Stewart Living Omnimedia reported a 47 percent increase to $67.4 million in revenue in the second quarter of 2006, driven primarily by growth in the company’s publishing segment.
Martha Stewart Omnimedia remains bullish on print into the third quarter, anticipating a 45 percent increase in ad pages for Martha Stewart Living and a 60 percent hike for Everyday Food.
Meanwhile, Internet revenue for the company rose 107 percent to $4.6 million in the second quarter. Broadcast generated $11.8 million in revenue while merchandising was flat over the same period last year at $10.2 million.
G&J Acquisition Continues to Boost Meredith Meredith Corp. reported revenue grew 31 percent to $1.6 billion while ad revenue increased 29 percent to $952 million in fiscal 2006. Not counting Parents, Family Circle, Fitness, Child and Ser Padres magazines (which the company acquired from Gruner & Jahr in July 2005), total revenue grew 5 percent to $1.3 billion while ad revenue increased 4 percent to $764 million.
Operating profit increased 22 percent to $213 million and advertising revenue grew 49 percent to $641 million.