The Arena Group to Expand Parade’s High-Growth Digital Business
16 Septembre 2022 - 6:10PM
Business Wire
Company Shifts Investments From Print To
Rapidly Growing Digital
The Arena Group, (NYSE American: AREN) (the “Company” or “The
Arena Group”) a tech-powered media company home to more than 240
brands, including Sports Illustrated, TheStreet, Inc.
(“TheStreet”), Parade Media (“Parade”), and HubPages, Inc.
operating on a single technology platform, today announced it will
expand its commitment to the Parade digital business following
substantial growth in the first five months of operations, in which
it added more than 22 million users. The Company will shift
resources from print operations and in November, discontinue
printing to enhance Parade web, mobile and e-Edition teams and
efforts, as well as expand its social and creator footprint.
“In just five months, we have validated the current popularity
and the incremental potential of the Parade brand. Using our proven
playbook, we have nearly tripled the number of unique visitors to
the established Parade digital assets by further investing in our
rapidly growing Lifestyle vertical,” said Ross Levinsohn, Chairman
and Chief Executive Officer of The Arena Group. "The ongoing
evolution of both the media business and consumer behavior, along
with macroeconomic factors contribute to this shift in strategy. We
will continue to build on the iconic Parade brand to meet consumers
how and where they engage with content."
The Arena Group acquired AMG/Parade with brands including Parade
Media, enabling the creation of the Company’s new Lifestyle
vertical in April 2022. Since the acquisition, Parade.com's unique
visitors have nearly tripled, increasing by 189% according to
ComScore. The brand recently built niche-topic sources like Parade
Pets launched in August, to expand its lifestyle footprint with
others planned.
After careful review, management has decided to wind down the
Parade print business after the last edition is distributed in
November 2022, as well as the Relish and Spry Living print products
after October 2022. A number of Parade employees primarily focused
on print will be departing in a one-time restructuring. There are
no changes to other print publications of The Arena Group. Sports
Illustrated Magazine continues to thrive, with more than 1 million
paid subscribers and robust advertising business.
About The Arena Group
The Arena Group creates robust digital destinations that delight
consumers with powerful journalism and news about the things they
love – their favorite sports teams, advice on investing, the inside
scoop on personal finance, and the latest on lifestyle essentials.
With powerful technology, editorial expertise, data management, and
marketing savvy, the transformative company enables brands like
Sports Illustrated, TheStreet and Parade to deliver highly relevant
content and experiences that consumers love. To learn more, visit
www.thearenagroup.net.
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version on businesswire.com: https://www.businesswire.com/news/home/20220916005408/en/
Investor Relations Contact Rob Fink FNK IR Aren@fnkir.com
646.809.4048 Media Contacts Rachael Fink Manager, Public
Relations, The Arena Group Rachael.fink@thearenagroup.net Andrew
Rhodes DKC arena@dkcnews.com
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