Meredith Corporation's National Media Group Forms New Strategic Development Team

Rhea-AI Summary

Meredith Corporation (NYSE: MDP) has appointed a new EVP of Strategy and Business Development, Daphne Kwon, as part of a strategy to enhance growth and innovation in its National Media Group. This move follows strong digital performance, with a 22% year-over-year increase in digital advertising. The new strategic team includes executives with significant media experience, aimed at expanding brands and revenue streams. Meredith's strong engagement with American women positions it well for future growth amid evolving business models.

Positive

• Digital advertising increased by 22% year-over-year.
• Digital sessions rose 16% year-over-year.
• Formation of a dedicated team to enhance brand and revenue growth.

Negative

• None.

NEW YORK, March 11, 2021 /PRNewswire/ -- In one of her first moves as President of Meredith Corporation's (NYSE: MDP) National Media Group, Catherine Levene is strengthening the company's approach to strategic development in the National Media Group with the formation of a new team dedicated to expanding Meredith brands, content and partnerships into new businesses and revenue streams. Effective immediately, Daphne Kwon assumes the newly created position of EVP, Strategy and Business Development, reporting to Levene. Kwon joined Meredith in 2019 as the company's Chief Strategy Officer. Prior to joining Meredith, she served as a founding executive of Goop, Inc. and Oxygen Media, and in the strategic planning group at The Walt Disney Company.

Reporting to Kwon in their new roles are:

• Amy Thind, SVP, Strategic Planning, a promotion from her Chief of Staff and VP, Strategy of Meredith Digital, a position in which she reported to Levene during her tenure as President, Meredith Digital. Previously, Thind played a significant role in the integration work following Meredith's acquisition of Time Inc. in early 2018. At Time Inc., Thind was a financial lead for the company's transformation program and earlier for its lifestyle brands, including REAL SIMPLE, Health, and Cooking Light.
• Kelsey Andersen, VP, Strategic Development. Andersen previously served as VP, Strategic Planning and M&A on Meredith's Corporate Development team, where she managed various M&A activities, including the recent acquisition of Travel + Leisure by Travel + Leisure, Co., formerly Wyndham Destinations, among others. Before joining Meredith and earlier Time Inc., Andersen was Director of M&A at Time Warner.
• Alicia Cervini, VP, Strategic Partnerships. Cervini has been leading this area for Meredith Digital and will now focus on the entire National Media Group. Previously, she served as VP, General Manager of Meredith Digital's entertainment brands. Prior to that, Cervini was GM of Meredith Digital's food vertical and served in senior roles directing product marketing, business strategy, and monetization at Allrecipes. She joined Meredith after working at various digital ad agencies and studios.

"Our iconic brands and strong relationships with 95% of American women uniquely position us for further growth as technology continues to disrupt traditional business models. I am committed to furthering digital innovation, expanding our brands across platforms, and maintaining our commitment to publishing, which has been going strong for 120 years," said Levene. "This experienced team of media executives in strategy, revenue growth, partnerships, and M&A will ensure that we identify and invest in future areas for expansion to best serve our current customers and the next generation. I'm thrilled to have these collaborative and accomplished executive women work across the Meredith organization to forge our path forward as we evolve and grow our business."

The appointments follow a period of strong growth for Meredith. The company's digital advertising exceeded its print component for the first time during its second fiscal quarter, recording a 22 percent year-over-year increase. During the same period, Meredith's digital sessions rose 16 percent year-over-year. The organization has strategically enhanced its consumer engagement through new recently-launched content offerings across platforms, including podcasts, such as PEOPLE Every Day, InStyle's Ladies First, REAL SIMPLE Money Confidential and PARENTS That New Mom Life.

ABOUT MEREDITH CORPORATION'S NATIONAL MEDIA GROUP

Engaging 95 percent of American women across every stage and every day of their lives, Meredith Corporation's National Media Group is home to 40+ iconic brands, including PEOPLE, Better Homes & Gardens, Allrecipes, Southern Living, REAL SIMPLE and Magnolia Journal. The company provides trusted content and experiences that resonate with a massive, highly receptive audience, reaching consumers where they are across digital, magazines, social platforms, video, audio and connected home assistants. Meredith's powerful brands have enabled the company to become the No. 2 licensor globally, including more than 3,500 SKUs of branded products at Walmart. Meredith's businesses also include leading affinity marketer Synapse, award-winning creative content studio Foundry and the Meredith Data Studio, whose proprietary first-party data and insights are leveraged for National Media Group offerings.

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SOURCE Meredith Corporation

FAQ

What new team has Meredith Corporation formed?

Meredith Corporation has formed a new strategic development team in its National Media Group to enhance growth and innovation.

Who is the new EVP of Strategy at Meredith Corporation?

Daphne Kwon has been appointed as the new EVP of Strategy and Business Development at Meredith Corporation.

What was the year-over-year increase in digital advertising for Meredith Corporation?

Meredith Corporation's digital advertising saw a 22% year-over-year increase.

How did Meredith Corporation's digital sessions perform year-over-year?

Meredith Corporation's digital sessions rose by 16% year-over-year.

What is Meredith Corporation's approach towards digital innovation?

Meredith Corporation is committed to furthering digital innovation and expanding their brands across various platforms.