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TheStreet Open House

Meredith Joins Google Play To Expand Digital Edition Offerings













DES MOINES, Iowa and NEW YORK, June 27, 2012 /PRNewswire/ -- Meredith Corporation (NYSE:MDP) today announced that it is offering digital editions of its most popular magazines, including such well-known titles as Family Circle, EveryDay with Rachael Ray, Ladies' Home Journal, Midwest Living and MORE, as magazines on Google Play.  

(Logo: http://photos.prnewswire.com/prnh/20090810/CG58830LOGO)  

On Google Play, consumers will be able to purchase a wide selection of magazines covering a variety of lifestyle interests – including fashion, food, travel, health, family and home decor – on Android smartphones and tablets. Single issues of Meredith titles will be available for just 99 cents for a limited time during the launch.

On Google Play, consumers can buy new or back issues of magazines and customize their reading experiences on their Android tablets or phones. Purchased magazines will be stored and accessible using cloud technology, enabling consumers to keep their favorite titles organized and easily browsed in a digital carousel. They will then be able to access these titles using the Google Play Magazines app for Android devices.

"We are excited to be adding such a variety of our key brands from our best-in-class portfolio to the Google Play store and experience," says Liz Schimel, EVP/Chief Digital Officer, Meredith National Media Group. "We know from our research that our large scale audiences of female readers are looking for this content across a broad spectrum of digital offerings. These tablet and mobile editions deepen and expand consumers' experiences with brands they love and trust, and reflect our long-term strategy to meeting our readers' multi-channel expectations and desires."

Over the last year, Meredith has aggressively expanded its digital portfolio.  In addition to the Google Play store, Meredith offers:

  • Subscriptions and single-issues of nearly 20 brands on a range of tablet devices and distribution channels;
  • Over a dozen branded mobile Apps, including Better Homes and Gardens Must Have Recipes and Parents' Carve a Pumpkin, each with over 1million downloads;
  • A broad array of branded consumer websites, including the recently acquired Allrecipes.com, that comprise the Meredith Women's Network and reach approximately   40 million unique users every month;
  • Over 10,000 original videos, including the recently launched Digs Channel on YouTube.

ABOUT MEREDITH CORPORATION

Meredith Corporation ( www.meredith.com) is the leading media and marketing company serving American women.  Meredith features multiple well-known national brands – including Better Homes and Gardens, Parents, Family Circle, Allrecipes.com, Ladies' Home Journal, Fitness, More, American Baby, Successful Farming, EveryDay with Rachael Ray and FamilyFun – along with local television brands in fast-growing markets.  Meredith is the industry leader in creating content in key consumer interest areas such as home, family, health and wellness and self-development. Meredith uses multiple distribution platforms – including print, television, digital, mobile, tablets, and video – to give consumers content they desire and to deliver the messages of its advertising and marketing partners.

Additionally, Meredith uses its many assets to create powerful custom marketing solutions for many of the nation's top brands and companies. Meredith Xcelerated Marketing has significantly added to its capabilities in recent years through the acquisition of cutting-edge companies in digital, mobile, social, healthcare, database, and international marketing.  Most recently, Meredith made a strategic investment in London-based Iris Worldwide, a leader in experiential marketing.

A hallmark of Meredith's business model and financial profile is its ability to consistently generate substantial free cash flow by leveraging the strength of its multi-platform portfolio.  Meredith is committed to increasing Total Shareholder Return through dividend payments, share repurchases and strategic business investments. Meredith has paid a dividend for 65 straight years and increased its dividend for 19 consecutive years.  Meredith currently pays an annual dividend of $1.53 per share, resulting in a dividend yield of approximately 5 percent.

 

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