The Arena Group Holdings, Inc. - AREN STOCK NEWS

The Arena Group announced the launch of the SI World Golf Rankings, a new ranking system aimed at providing a comprehensive evaluation of players across all major men’s professional tours. This system will be continuously updated on SI.com/golf and focuses on player performance over the last 12 months, employing a proprietary formula that assesses competition and course difficulty. Currently, the rankings feature top players like Jon Rahm and Scottie Scheffler, with plans to expand to include women’s rankings. The initiative is part of a strategic investment in golf, enhancing Sports Illustrated's coverage.

Sports Illustrated celebrates Kansas City Chiefs' Super Bowl LVII victory with a special commemorative issue, available online and at local newsstands. This issue features 84 pages of in-depth coverage, highlighting notable players like Patrick Mahomes, Chris Jones, and Travis Kelce. It reflects on the franchise's rich history, from the inaugural Super Bowl to being a modern dynasty. The commemorative magazine encapsulates the Chiefs' journey to their second championship in four seasons.

Fans can purchase the issue via SI.com or at local retailers.

The Arena Group announced partnerships with AI firms Jasper and Nota to enhance its multimedia content across 250 brands, including Sports Illustrated and Men's Journal. These collaborations focus on improving content workflows, video creation, and marketing campaigns utilizing AI tools. The pilot program demonstrated a significant increase in workflow efficiency, with editors producing articles at over ten times the normal rate. Notable new articles emerged from leveraging 17 years of archival content. The company's CEO emphasized that while AI will not replace journalism, it can create considerable enterprise value.

The Arena Group Holdings (NYSE: AREN) reported preliminary financial results for the full year ended December 31, 2022, with revenue expected between $217 million and $220 million, a 15% to 16% increase compared to 2021. The net loss is anticipated to be between $68 million and $72 million, improving by $18 million to $22 million year-over-year. Additionally, Adjusted EBITDA is expected to exceed $3 million, contrasting with a loss of $12 million in 2021. For 2023, the company reiterates its guidance of $255 million to $270 million in revenue and $30 million to $35 million in Adjusted EBITDA.

The Arena Group Holdings has acquired Fexy Studios, an award-winning creative agency known for its diverse video content, to enhance its media capabilities. The transaction aims to expand The Arena Group's food coverage within its Parade Lifestyle Media Group, featuring popular shows like Moveable Feast and Roadfood. Key executives from Fexy Studios will join The Arena Group to lead growth in TV and streaming content. The acquisition is expected to offer new advertising opportunities and leverage an extensive distribution network, enhancing revenue potential.

The Arena Group Holdings (AREN) announced the acquisition of digital assets from accelerate360, including brands such as Men’s Journal and Men’s Fitness, for $28.5 million. This strategic move aims to enhance its fourth vertical, integrating these active lifestyle brands with existing sports, finance, and lifestyle content. Arena Group has seen significant growth, reaching over 103 million monthly users and increasing its revenue by 41% to $180 million over nine months in 2022. The acquisition is set for completion on December 15, 2022, highlighting the company's commitment to diversifying its portfolio.

Sports Illustrated has named Stephen Curry the 2022 Sportsperson of the Year for his remarkable achievements in basketball and philanthropy. He guided the Golden State Warriors to victory, earning his fourth NBA Championship and first Finals MVP award. Off the court, Curry's Eat. Learn. Play. Foundation addresses food insecurity and supports childhood literacy in the Bay Area. The awards ceremony will take place on December 8th in San Francisco, honoring other athletes like Allyson Felix and featuring tributes from notable figures.

The December issue of Sports Illustrated features a comprehensive World Cup Preview, spotlighting the U.S. Men's National Team and France's Kylian Mbappé. With a youthful U.S. roster, hopes are high for a strong performance in Qatar, marking eight years since their last World Cup. The issue also includes timelines and expert predictions for the tournament, while highlighting essential stories from the NFL and NBA. Key features delve into the history and future of soccer in the U.S. and the dynamics of crucial sports moments like penalty kicks.

The Arena Group Holdings, Inc. (NYSE American: AREN) reported record revenue of $66.7 million for Q3 2022, marking a 12% increase year-over-year. Total revenue for the first nine months rose 41% to $180.0 million. Digital advertising revenue surged 56% in Q3, contributing to a gross profit of $26.2 million. Operating expenses decreased by $11.1 million to $38.6 million. Despite a net loss of $16.5 million, improvements in core areas and acquisitions are driving growth. The company aims for positive adjusted EBITDA in Q4.