Digital ad revenues of Meredith surpass magazine revenues
Media conglomerate Meredith has achieved an 11 percent hike to $902 million for its fiscal 2021 second-quarter YoY, and a 4 percent hike to $1.595 billion for its first half. That was driven, in large part, by digital ad sales. It has marked the first time that digital ad revenue has surpassed magazine advertising—a historic accomplishment and a critical piece of our long-term strategy, a source mentioned. Meredith’s digital unit, National Media Group, pulled a 22 percent hike in ad revenue in the second quarter. In addition, sessions to Meredith’s sites grew by 16 percent, led by People, Allrecipes, Martha Stewart Living and InStyle.
In addition, the company also experienced a 96 percent boost in political spot and digital advertising over those of the 2018 election cycle. This came mostly from the Phoenix and Atlanta markets, which pulled in roughly 60 percent of total political advertising. Meredith also saw YoY improvement in its magazine and non-political advertising platforms.