Meredith Expands Traditional Home With New Subscription Model

Rhea-AI Summary

Meredith Corporation (NYSE: MDP) announced the launch of home delivery for its magazine, Traditional Home, starting with the Fall/Winter 2020 issue. The quarterly magazine will remain available on newsstands at a cover price of $12.99. An annual subscription costs $20 for four issues. Doug Olson, President of Meredith Magazines, noted the positive consumer response as a driving factor for this initiative. The Meredith Premium Publishing unit aims to produce high-quality publications and boasts a significant market presence, including 42% share in the premium bookazine category.

Positive

• Launch of home delivery for Traditional Home magazine opens new revenue stream.
• Annual subscription priced at $20 for four issues shows potential for recurring revenue.
• Meredith Premium Publishing holds 42% market share in the premium bookazine category.

Negative

• None.

DES MOINES, Iowa, July 20, 2020 /PRNewswire/ -- Meredith Corporation (NYSE: MDP) announced today that it has begun making Traditional Home available for home delivery via the Meredith Magazine Store, beginning with the Fall/Winter 2020 issue. The quarterly continues to be available at newsstands with a $12.99 cover price.

"We're thrilled to provide annual and biannual subscriptions to readers of this beloved home brand," said Doug Olson, President, Meredith Magazines. "Offering consumers home delivery is a logical next step based on the overwhelmingly positive response of readers and the success of Cooking Light and Coastal Living's pivot to Meredith's consumer-driven model. It's a profitable and innovative way for us to deliver our desired print brands like Traditional Home to our passionate and loyal readers."

An annual subscription costs $20 for four issues. The brand, which includes growing interior design-enthusiast followings on Facebook and Instagram, is directed by Editor In Chief Jill Waage, based in Des Moines, Iowa.

"With all the renewed attention consumers are giving their homes during these times, we're thrilled to add home delivery of Traditional Home to our strong presence at newsstands nationwide," said Waage. "We will keep giving our readers, both loyal and new, what they love—modern takes on classics design that's timeless, fresh, and focused on livable, personal style."    

At Meredith, Traditional Home is produced out of the newly-named Meredith Premium Publishing (MPP) operation, formerly called Special Interest Media. MPP emphasizes the unit's focus and commitment to producing the highest-quality, premium magazines from a content and packaging perspective. Recent launches of Sweet July with Ayesha Curry, Reveal with Drew and Jonathan Scott, and the reimaginations of Rachael Ray In Season, Coastal Living, and Cooking Light, have added exciting visibility to the group, which produces more than 300 special interest issues per year, most priced from $10-$15. With nearly 1.3 million pockets nationwide, and over 42% market share of the premium bookazine category, MPP provides customers with a superior product and immersive experience, selling more than 18 million copies at retail in fiscal year 2020. 

ABOUT MEREDITH CORPORATION
Meredith Corporation has been committed to service journalism for 118 years. Meredith uses multiple distribution platforms—including broadcast television, print, digital and video—to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners. Meredith's National Media Group reaches more than 190 million unduplicated American consumers every month, including nearly 95 percent of U.S. women. Meredith is the No. 1 magazine operator in the U.S. and owner of the largest premium content digital network for American consumers. Meredith's Local Media Group includes 17 television stations, reaching 11 percent of U.S. households.

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SOURCE Meredith Corporation

FAQ

What is the new subscription model for Traditional Home by Meredith Corporation (MDP)?

Meredith Corporation has launched home delivery for Traditional Home, with an annual subscription costing $20 for four issues.

When did Meredith Corporation announce the home delivery for Traditional Home?

The announcement was made on July 20, 2020.

What is the cover price for Traditional Home magazine at newsstands?

The cover price for Traditional Home at newsstands is $12.99.

What percentage of the market share does Meredith Premium Publishing hold?

Meredith Premium Publishing holds a 42% market share in the premium bookazine category.