With the advent of the Internet, the primary sources of revenue—circulation and advertising—have eroded, while the costs of printing magazines—ink, paper, and distribution—continue to rise.
(But) Meredith, the demure Iowa-based publisher of upbeat women’s service magazines (including Better Homes and Gardens, Ladies’ Home Journal, and Traditional Home, has profited from a few key strategies. They are experts at repurposing their content across multiple platforms (magazines, books, websites, mobile devices, tablets, etc.) and aggressively look beyond advertising and circulation for revenue. In print, they stay as far away from the news as possible. They are particularly successful at licensing their magazine titles’ names to major national businesses selling branded products; they also run their own marketing agency.
Advertising remains the company’s lifeblood. In 2012 ad sales accounted for $769.8 million of Meredith’s $1.37 billion of revenue. Of that, 64 percent came from the company’s publishing division. The rest came from ad sales at Meredith’s 13 regional TV stations.
Read more at Business Week
