Meredith’s total revenues grew 9% from $390.8 million in the second quarter of 2014 to $425.9 million in the second quarter of 2015, as ad revenues increased 13.2% from $204.1 million to $231.1 million, while circulation revenues rose 5.2% from $87.7 million to $92.3 million over the same period.
Other sources of revenue, including brand licensing and merchandising, rose 3.5% from $99 million to $102.5 million.
For the full year, Meredith’s total revenues rose 8.1% $1.47 billion to $1.59 billion, powered by ad revenues that jumped 15% from $778.4 million to $896.5 million. However, circulation revenues were down slightly for the full year, sinking 4.2% from $327.2 million to $313.6 million. Other sources of revenue rose from $363.1 million to $383.9 million.
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The company attributed the increases in ad revenue to the acquisition of four new local TV stations; the acquisition of Shape magazine; the long-term licensing agreement with Martha Stewart Living Omnimedia, giving Meredith responsibility for all business operations at MSLO’s flagship title Martha Stewart Living; and the acquisitions of Mywedding.com and Selectable Media, a native advertising firm.
For the full year, Meredith’s magazine publishing division saw revenues remain flat at $1.1 billion for the year, as ad revenues rose 3% to $496 million, offset by a 4% decline in circ revenues to $314 million. The TV division, which includes 17 stations across the U.S., saw total ad revenues soar 35% to $400 million for the full year.