Meredith National Media Group’s Ad Revenue Drops in Fiscal Second Quarter
Overall revenue down from $268 million to $244 million.
Meredith saw a mixed fiscal 2012 second quarter, according to a company financial statement. While expenses for the National Media Group decreased eight percent from the same period last year, overall and advertising revenue also fell during this quarter.
Ad revenue dropped from $122 million in fiscal 2011 second quarter to $107 million in the same quarter of 2012; overall rev falls from $268 million to $244 million. However, Meredith brought in an improved net ad revenue per magazine page, up eight percent from fiscal 2011 second quarter. This hike is attributed to “a change in mix and stronger pricing”, according to the company.
Meredith also saw its operating profit decrease, down from $42 million in fiscal 2011 second quarter to $36 million in fiscal 2012 second quarter.
Circ revenue was a high point for the company during this period, with print mag subscriptions growing to 500,000 in the second quarter of fiscal 2012. Expanded website and email marketing efforts, as well as the transition to online billing and renewals, contributed to sub success for Meredith Corp.
The company went on a shopping spree in the closing fiscal quarter, adding Every Day with Rachael Ray and Disney’s FamilyFun to its content stable. The company’s latest deal, the acquisition of Allrecipes.com from the Reader’s Digest Association, further expands Meredith’s food portfolio (which now includes EatingWell Media Group, purchased in July).