Maven renames itself The Arena Group, expanding its business strategy around mainstream media verticals anchored by flagship brands
NEW YORK–(COMMERCIAL THREAD) – TheMaven, Inc. (OTC: MVEN), a technology-driven media company, today announced that it has rebranded itself The Arena Group. This new identity celebrates the company’s efforts over the past year to focus its core business strategy – building scalable verticals, called ‘Arenas’, on a unique and dynamic technical platform, around passionate interests. of consumers. The Reimagined Identity was designed to capture the company’s unique value within the industry: a media ecosystem that unites consumers, brands, publishers, storytellers and advertisers around robust digital destinations. To learn more about The Arena Group’s new identity, visit www.thearenagroup.net.
The Arena Group began to envision a vertical-centric model after Sports Illustrated CEO Ross Levinsohn was elevated to the company’s CEO a year ago. Levinsohn and a team of seasoned leaders, including COO Andrew Kraft, CMO Jill Marchisotto, CRO Avi Zimak, Platform President Paul Edmondson and Media President Rob Barrett, sought to advance a new vision. Over the past year, the company has raised over $ 40 million in capital to support this vision. The Arena Group saw an opportunity to focus more on building high performing flagship brands that could drive value for publishers within each vertical’s ecosystem. The results have been strong over the past year. Digital revenues grew about 91% year over year in the second quarter. Recurring subscriptions across all of The Arena Group’s properties now represent 55% of overall revenue.
âThe past year has been marked by dramatic changes. I am extremely proud of the team and how we focused, executed, expanded our business and delivered strong results, âsaid Ross Levinsohn, CEO of The Arena Group and Sports Illustrated. âWe have increased our revenues and our audience, led strategic partnerships in the areas of gambling, podcasting and commerce, and we have partnered with more than 200 publishers. The efforts speak volumes for the dedication of our team and the success of our strategy, âhe added.
In 2021, The Arena Group focused on developing a premier sports vertical anchored by Sports Illustrated, deploying a strong publisher acquisition and partnership strategy to attract independent sports media destinations that complement the flagship brand. The merger paid off, and in June the company made its first acquisition under the direction of the new management team, acquiring sports publisher The Spun. The Arena Group’s sports vertical now includes 103 digital sports venues, including FanNation (including the more than 90 local team venues on the SI.com domain), The Hockey News, Fadeaway World, Morning Read, Athlon Sports, and more. This strategy has also helped create a more diverse audience. Arena Group’s sports sector now reaches nearly one in five consumers aged 18 and over, 10% over 18-24 and 15% more millennials than a year ago. Women now represent a quarter of the sports vertical, up 42% since Sports Illustrated moved under The Arena Group. Digital visitors to the sports category have grown by more than 300% in the past year, making the sports establishment the fastest growing in the United States, according to Comscore. Since that report, Comscore has reported that digital readership increased further to over 50 million users in August, up from 42 million users and 207 million pageviews in July.
Today, The Arena Group reaches over 120 million consumers across all owned, licensed and integrated (based on Google Analytics) publisher partner properties. The company actively applies the same formula that has defended its sports vertical in finance, with 17 partner sites anchored by The street. TheStreet’s subscription business has grown by over 36% since joining under the leadership of the company’s current management team in 2020. With 6 million avid and regular users, TheStreet’s audience has evolved significantly since its acquisition by The Arena Group in 2019, and the data reveals a more, financially dynamic, and younger group of investors. TheStreet now reaches 4.5 times more women aged 18 to 34 with an HHI over $ 100,000, twice as many consumers with a $ 100,000 HHI and 3 times as many business owners. This evolving dynamic will shape how The Arena Group expands its financial vertical to engage its new, younger audience with obvious financial prowess.
Under his current leadership, The Arena Group has grown both operationally and financially. On a rolling 12-month basis, the company generated revenue of $ 142.9 million for the 12 months ended June 30, 2021, up 53.7% from the 12 months ended June 30. June 2020. The Arena Group, across all its verticals, has grown digital subscribers by 18% over the past 12 months, increasing a compelling recurring revenue stream. The company currently employs more than 300 people and expanded recruitment during the pandemic, increasing hiring by 10% from last year and 35% since 2019.
About the Arena group
The Arena Group, formerly Maven, creates robust digital destinations that thrill consumers with experiences, powerful journalism, and news about the things they love – their favorite sports teams, investing tips, the inside scoop on personal finance and the latest essential lifestyle information. With superior technology, editorial expertise and marketing know-how, the modern media business enables brands like Sports Illustrated and TheStreet to deliver highly relevant content and experiences that consumers love. To learn more, visit www.thearenagroup.net.
Source: Comscore Media MetrixÂ® Multi-Platform, Custom List, Office People 2+ and Total Mobile People 13+ and 18+. Total digital audience – July and August 2021, United States Based on SI.com and TheStreet.com entity.
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