Meredith Corporation Named #2 Top Licensor for Sixth Consecutive Year by License Global

Rhea-AI Summary

Meredith Corporation (NYSE: MDP) has been ranked No. 2 by License Global for brand licensing, surpassing others for six consecutive years. This ranking reflects a strong performance, with a 28% growth in licensing revenue in Q3 of fiscal 2021, largely driven by Better Homes & Gardens products at Walmart. Specifically, Better Homes & Gardens saw over 40% year-over-year sales growth at Walmart and a 75% increase in online sales. Meredith's strategic partnerships and diverse licensing programs solidify its leadership in the market, indicating potential for continued growth.

Positive

• Ranked No. 2 by License Global for brand licensing for six consecutive years.
• 28% increase in licensing revenue in Q3 fiscal 2021.
• Better Homes & Gardens products at Walmart experienced over 40% year-over-year sales growth.
• 75% increase in online sales for Better Homes & Gardens in the same period.

Negative

• None.

DES MOINES, Iowa, June 28, 2021 /PRNewswire/ -- Meredith Corporation (NYSE: MDP), a leading media company reaching nearly 95 percent of all U.S. women and more than 190 million American consumers every month, is once again ranked No. 2 by License Global, the leading news source for the brand licensing industry. Second only to The Walt Disney Company, Meredith retains its position for the sixth consecutive year on License Global's annual Top Global Licensor's report. The ranking, measured by prior-year sales of licensed merchandise, follows Meredith's latest earnings report which stated that its licensing revenue grew by 28% in its fiscal 2021 third quarter. Driven by sales of its licensed Better Homes & Gardens brand products at Walmart and more than 28 licensing programs, Meredith is poised for continued development and growth as a dominant licensing leader.

"Consumers have a strong connection to our iconic brands and are passionate about extending their trusted relationships with them through products and services that enhance their lives," said Tom Witschi, President of Consumer Products for the Meredith National Media Group. "From our popular home products with Better Homes & Gardens at Walmart and Southern Living at Dillard's to REAL SIMPLE's new line of handbags at QVC, Meredith's unmatched brand equity delivers a powerful value proposition to our licensing and retail partners. Among the key differentiators in our success is our proprietary data, rich insights and curated content that informs and enhances product development, packaging, marketing and everything in between."

Highlights from Meredith's major licensing activities:

Better Homes & Gardens 
Better Homes & Gardens' business at Walmart significantly influenced Meredith's recent quarterly performance (Fiscal Year '21, 3Q) with a more than 40% YOY increase in sales. At the same time, BHG online sales grew by 75% YOY during the same period. Growth has been driven by sales of indoor and outdoor furniture, home décor, and new products in DIY and home improvement categories, such as wallpaper, ceiling fans, heaters and bath hardware which soared during the pandemic.   

Better Homes & Gardens® Real Estate (BHGRE) also continued to drive significant growth. With 18 new broker franchises in this fiscal year, the BHGRE network features nearly 12,500 independent sales associates and more than 390 offices serving home buyers and sellers across the United States, Canada, Jamaica, The Bahamas, Australia, and New Zealand.

Southern Living
Anchored by an extensive home and outdoor entertaining presence, Southern Living continues to expand its exclusive Southern Living Collection at Dillard's and Dillards.com. Since its inception nearly a decade ago, the collection features more than 3,000 products, spanning dining, bedding, bath accessories, home and outdoor décor, kitchen products, and jewelry. During the past year, Dillard's introduced the Home Grown for Southern Living towel line, featuring cotton 100% grown in the U.S.

The Southern Living brand also includes 10 inspired residential communities across the Southern U.S. and landscaping plants developed for southern growing zones by Plant Development Services, Inc. available at Lowes, Home Depot, and independent nurseries. Southern Living also has a floral arrangement with 1-800-Flowers, Inc.

Coastal Living 
Strong interest in Coastal Living's design point of view prompted Universal Furniture to produce a third collection of outdoor furniture, available at several fine furniture stores. Coastal Living also recently launched a new lighting collection with Regina Andrew, featuring coastal-inspired lamps, sconces, and statement chandeliers and has three Coastal Living inspired residential communities in Belize, Florida and South Carolina.

REAL SIMPLE
REAL SIMPLE partnered with Clorox to introduce the brand's all-purpose cleaning spray made with natural ingredients at The Container Store, launching this summer. The move into cleaning products follows REAL SIMPLE's recent introduction of its new handbag collection available on QVC and successful floral business with 1-800-Flowers, Inc.

InStyle
InStyle's licensing and media partnership with JC Penney features branded hair salons in more than 220 top-performing JCP locations across the U.S.

Allrecipes
Allrecipes  produces a kitchenware line in partnership with Lifetime Brands, Inc., which is  available in more than 1,100 Kroger stores and Kroger.com. The line features free-standing fixtures with prominent smart codes linking to recipe content from Allrecipes. This summer,  Allrecipes will launch a spice collection of eight different spice sets available on Amazon.com through the Lifetime Brands collaboration. 

To read more about Meredith's ranking and License Global's methodology, see License Global's annual Top Global Licensor's report.

ABOUT MEREDITH CORPORATION 
Meredith Corporation (NYSE: MDP), a leading media company for nearly 120 years, produces service journalism that engages audiences with essential, inspiring, and trusted content. Meredith reaches consumers where they are across multiple platforms including digital, video, magazine, and broadcast television. Meredith's National Media Group reaches nearly 95 percent of all U.S. women and more than 190 million unduplicated American consumers every month through such iconic brands as PEOPLE, Better Homes & Gardens, Allrecipes, Southern Living, and REAL SIMPLE. Meredith's premium digital network reaches more than 150 million consumers each month. The Company is the No. 1 U.S. magazine operator with 36 million subscribers and the No. 2 global licensor with robust brand licensing activities that include a Better Homes & Gardens partnership with Walmart. Meredith's Local Media Group portfolio includes 17 television stations reaching 11 percent of U.S. households and 30 million viewers. Meredith's portfolio is concentrated in large, fast-growing markets, with seven stations in the nation's Top 25 markets, including Atlanta, Phoenix, St. Louis, and Portland, and 13 stations in the Top 50.

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SOURCE Meredith Corporation

FAQ

What is Meredith Corporation's ranking by License Global in 2021?

Meredith Corporation was ranked No. 2 by License Global for brand licensing in 2021.

How much did Meredith's licensing revenue grow in Q3 of fiscal 2021?

Meredith's licensing revenue grew by 28% in Q3 of fiscal 2021.

Which brand contributed significantly to Meredith's recent sales performance?

The Better Homes & Gardens brand significantly influenced Meredith's sales performance.

What was the year-over-year sales growth for Better Homes & Gardens at Walmart?

Better Homes & Gardens saw over 40% year-over-year sales growth at Walmart.

How much did Better Homes & Gardens online sales increase?

Better Homes & Gardens online sales increased by 75% year-over-year.