• by Ray Schultz , November 18, 2024

The Arena Group, which publishes The Street, Parade Media (“Parade”), Men's Journal, Surfer, Powder  and  Athlon Sports, generated $33.6 million in Q3, down from $37 million in the same quarter of 2023.

However, the company achieved positive net income of $4 million and apparently is growing despite being still embroiled in litigation over its temporary management of Sports Illustrated.

Along the way, Arena closed a deal to license a copy of its content management system. It also acquired several sites, including Autoblog. 

“We are achieving meaningful revenue diversification, including a significant increase in e-commerce and other revenue, enabling a substantial improvement in profitability,” says Sara Silverstein, CEO of the Arena Group. “We generated higher gross margins, returned to positive operating income, and delivered our first-ever quarter of positive net income.”

Silverstein adds, “We generated more than $13.6 million higher income from continuing operations on $3.4 million in lower revenue as we shed unprofitable operations. We believe we now have a stable, profitable platform for growth.”