Meredith Corporation (MDP) has boosted the rate base of its Allrecipes Magazine by about 120% to 1.1 million, driven by outstanding customer response, starting from the Feb/Mar 2015 issue. This is the brand’s third rate base increase, since its launch in Nov 2013 with an original rate base of 500,000.
This diversified media company has been doing an excellent job with Allrecipes, magazine industry's first large-scale digital-to-print brand extension. The magazine compiles the best recipes from Allrecipes.com, world's largest online community of cooks.
A part of Meredith's leading food-centric brands portfolio, the magazine attracts home cooks, by rendering quality and relevant information across multiple platforms. These platforms include television, online cooking school and the latest one – Allrecipes’ line of licensed cookware and kitchen gadgets, to be launched in fall 2015.
Meredith boasts a strong portfolio of women’s magazines, which helps it to secure a solid market share. The company also launched Meredith Women’s Network, mostly covering women-related topics, and including brands such as American Baby, FamilyFun, Parents, Ser Padres, along with the latest addition of Parents Latina.
Meredith’s other well-known brands include Better Homes and Gardens, Allrecipes, Family Circle, Fitness and Every Day with Rachael Ray, which are generally followed by English-dominant Latina consumers.
Through its strategic alliances, Meredith leverages its brands, which supplement the company’s sales. It extended its contract with Wal-Mart Stores Inc. (WMT), which includes expanding Better Homes and Gardens-branded home decor and the garden program at Wal-Mart stores across the United States and Canada.
The company also entered into agreements in Turkey and Italy to widen the reach of its renowned brands such as Better Homes and Gardens, Parents and More and Allrecipes.com. Moreover, Meredith is aggressively expanding its brands through online platforms, televisions, videos and mobile applications while simultaneously broadening its range of food and lifestyle content.
Additionally, in Oct 2014, the company inked a notable deal with Martha Stewart Living Omnimedia Inc. (MSO) to acquire the rights of Martha Stewart Living and Martha Stewart Weddings magazines and the www.marthastewart.com and www.marthastewartweddings.com websites.
Currently, Meredith carries a Zacks Rank #3 (Hold).
Other Stocks to Consider
A better-ranked stocks in the same industry is Time Inc. (TIME) with a Zacks Rank #2 (Buy).
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