• by Wayne Friedman , October 25, 2012

Meredith Corp. says advertising revenue climbed by double digits in its first fiscal quarter 2013, with big gains coming from its TV properties.

Total company advertising revenues climbed 12% to $207 million, with local media (its TV-related businesses) up 26% to $87.2 million. It had 7% advertising gains from its national media group (its print and magazine-based brands) to $132.6 million.

TV advertising benefited from a sharp increase in both political and nonpolitical advertising. Political advertising was at highest ever for its first fiscal quarter -- $12.2 million for the period versus $9.4 for its fiscal first quarter 2012. Nonpolitical advertising was at $62.2 million, up 5%. This was the 12th straight quarter to quarter growth for the category, according to the company.

Overall magazine businesses grew 3% to $267 million. While magazines did see rising advertising revenue, it was the result of acquisitions. Without those new revenues, total advertising revenues declined 9%.

Digital advertising business continued to rise -- with its magazine/print businesses up 115% and its TV-related units 15% higher.

Total company-wide revenues rose 8% to $354 million, with net income moving up to $24.9 million from $21.6 million in its first fiscal quarter 2012.

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