MEREDITH TO INCREASE RATE BASE OF EATINGWELL MAGAZINE TO 750,000
Circulation More than Doubles Under Meredith Ownership; Newsstand Sales Up 45 percent in 2012
Aug 20, 2012
NEW YORK, NY/SHELBURNE,VT (August 20, 2012) – Meredith Corporation (NYSE:MDP), the leading media and marketing company serving American women, announced today that it will increase the rate base for EatingWell magazine to 750,000 from 600,000, effective with the July/August 2013 issue. The bump represents a 115 percent increase in EatingWell magazine’s circulation since Meredith acquired the EatingWell brand in June 2011.
In addition to strong subscription growth, EatingWell’s newsstand sales surged 45 percent in the first half of 2012, according to ABC’s Fas Fax, further contributing to the magazine’s overall circulation growth.
“Our momentum reflects EatingWell’s strong and growing connection to the consumer,” says Tony Catalano, Publisher, EatingWell. “Healthy eating is top of mind for Americans, and we’re pleased to see them turning to the pages of EatingWell for trusted and engaging content.”
In addition to its flagship bimonthly magazine, EatingWell is a diversified brand produced over multiple formats, including a robust website (www.eatingwell.com), content and brand licensing, custom publishing, as well as consumer cookbooks and health books. The brand is a leading source of science-based nutrition advice, delicious, easy and healthy recipes, and useful shopping information.
EatingWell.com has also witnessed notable growth, with monthly unique visitors soaring to 3.6 million in June 2012, representing an 85 percent traffic increase since Meredith acquired the brand.
ABOUT MEREDITH CORPORATION
Meredith Corporation (NYSE: MDP; www.meredith.com) is the leading media and marketing company serving American women. Meredith features multiple well-known national brands – including Better Homes and Gardens, Parents, Family Circle, Allrecipes.com, Ladies' Home Journal, Fitness, More, American Baby, EveryDay with Rachael Ray, EatingWell and FamilyFun – along with local television brands in fast-growing markets. Meredith is the industry leader in creating content in key consumer interest areas such as home, family, health and wellness and self-development. Meredith uses multiple distribution platforms – including print, television, online, mobile, tablets, and video – to give consumers content they desire and to deliver the messages of its advertising and marketing partners.
Additionally, Meredith uses its many assets to create powerful custom marketing solutions for many of the nation's top brands and companies. Meredith Xcelerated Marketing has significantly added to its capabilities in recent years through the acquisition of cutting-edge companies in digital, mobile, social, healthcare, database, experiential and international marketing.
A hallmark of Meredith's business model and financial profile is its ability to consistently generate substantial free cash flow by leveraging the strength of its multi-platform portfolio. Meredith is committed to increasing Total Shareholder Return through dividend payments, share repurchases and strategic business investments. Meredith has paid a dividend for 65 straight years and increased its dividend for 19 consecutive years. On October 25, 2011, Meredith announced a 50 percent increase in its annual dividend to $1.53 per share.