An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
The Arena Group to Expand Parade’s High-Growth Digital Business
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
The Arena Group, a tech-powered media company, is transitioning its investments from print to digital, particularly focusing on its Parade brand. Following a remarkable 189% increase in unique visitors, the company plans to cease print operations by November 2022 to enhance digital efforts, including adding 22 million users in just five months. The restructuring will also involve staff reductions in print, while its flagship publication, Sports Illustrated, continues to thrive with over 1 million subscribers.
Positive
Parade's unique visitors increased by 189% since its acquisition in April 2022.
Added more than 22 million users in the first five months of Parade's digital operations.
Continued growth in Sports Illustrated with over 1 million paid subscribers.
Negative
Discontinuation of the Parade print business, affecting employees focused on print.
Winding down of Relish and Spry Living print products after October 2022.
Company Shifts Investments From Print To Rapidly Growing Digital
NEW YORK--(BUSINESS WIRE)--
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.
What recent changes has The Arena Group made regarding its print and digital strategy?
The Arena Group is shifting from print to digital, discontinuing print operations for Parade by November 2022 to focus on its rapidly growing digital audience.
How many unique visitors has Parade gained since its digital launch?
Parade has gained over 22 million users, with unique visitors increasing by 189% since the company's acquisition in April 2022.
What is the status of Sports Illustrated amid The Arena Group's transition to digital?
Sports Illustrated continues to thrive, boasting more than 1 million paid subscribers.
When will The Arena Group cease its print operations for Parade?
The Arena Group plans to wind down Parade's print business by November 2022.
What impact will the restructuring have on Parade employees?
The restructuring will lead to departures of several Parade employees primarily focused on print operations.
