Total company revenues increased 9 per cent to $443 million, and total advertising revenues increased 11 per cent to $267 million, both representing all-time quarterly highs.
"We continued our record-setting performance in the second quarter and first half of fiscal 2017, driven by record political advertising revenues at our television stations and double-digit growth in digital ad revenues in both the national and local businesses," said Meredith chairman and CEO Stephen M. Lacy. "We continue to expect to deliver record full fiscal year 2017 revenue and earnings performance, driven by aggressive execution of our strategic growth initiatives."
Some of the highlights:
"Our results in calendar 2016 reflect the strength of our diversified media business," said Meredith president and COO Tom Harty. "In our local media group, we generated a record $67 million of political ad revenues and increased net retransmission contribution. In our national media group, we delivered growth in ad revenues as double-digit gains in digital advertising outpaced slight declines in magazine advertising. Importantly, we renewed our industry leading Better Homes & Gardens licensing program at Walmart stores nationwide."
Meredith is a member of FIPP.
Harvard Business Review’s print magazine recently underwent a redesign… But, as Josh Macht, EVP and group publisher for the Harvard Business Review Group, explains, the design changes are part of a much bigger shift in strategy, which involves a much bigger multi-platform ‘experience’ overall – gearing up HBR not only to take advantages of opportunities today, but also readying it for the opportunities of tomorrow.21st Feb 2017 MagWorld
Hearst is investing resources into its new Autos division and expanding its automotive brands, building off the success of the last several months. This build up involves editorial expansion as well as a functional expansion, according to division president Nick Matarazzo.17th Feb 2017 MagWorld
Der Spiegel managed to spark widespread controversy with its recent cover featuring an illustration of US President Donald Trump beheading the Statue of Liberty. We spoke to experts who argue controversial magazine covers boost social media sharing, and may – despite chance of a disconnect between the “cover" and actual “publication” during the social media cycle – ultimately translate into an uplift in offline newsstand sales.16th Feb 2017 Opinion
Putting more emphasis on consumers’ behavioural shifts and not only thinking of the technological shifts is fundamental for publishers to survive another period of what will be “tumultuous change”.19th Feb 2017 MagWorld
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