• by Ray Schultz , Columnist, February 13, 2024

Dotdash Meredith reported a 9% digital revenue increase to $283.6 million in Q4 2023 YoY. 

Print fell by 12% to $198 million. However, that reflected the fourth consecutive quarter of improvement, the company said. 

“Feels nice to say for the first time in a while that the year finished stronger than we had hoped,” says Joey Levin, CEO of parent IAC, in a shareholder letter. 

Levin adds, “The fourth quarter at Dotdash Meredith delivered on the long-anticipated return to growth. We saw Digital revenue, profits, and margin all improve driven by the combination of audience and pricing gains. Momentum is back on our side.”

Total Q4 revenue hit $475.9 million, versus $477.6 million in Q4 2022. 

In addition, “DDM’s advertising business saw its healthiest performance across premium, programmatic and performance marketing since early 2022 with solid consumer spending across Beauty Travel and Technology."

Levin continues that for Dotdash Meredith, “we believe a cookie-less future is a better future. D/Cipher, our new advertising product, allows advertisers to target users based on intent – what users are actually reading or watching in the moment – without cookies or personal identifiers.”

Revenue totaled roughly $1.58 billion for IAC in Q4, a decline of 15%. The operating loss was $37 million, a 51% improvement YoY. 

Our three biggest consolidated businesses (Dotdash Meredith, Angi, and Care.com) all generated healthy profit growth, and our large minority investments (MGM and Turo) generated record fourth-quarter revenues again.” 

Levin concludes, “We expect Dotdash Meredith (along with Search) to be our cashflow engine.”