NEW YORK, September 20, 2021– (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 media verticals, dubbed ‘Arenas’, on a unique and dynamic technical platform, around passionate consumer interests. 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 grown our revenue and audience, driven strategic partnerships in gambling, podcasting and commerce, and partnered with over 200 publishers. The efforts speak volumes for our team’s dedication and 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.
Caution Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and include, but are not limited to limit, statements concerning the activities of the company. strategy, future revenues, market growth, capital requirements, product launches and expansion plans and the adequacy of its funding. Other statements contained in this press release that are not historical facts are forward-looking statements. The company has tried, to the extent possible, to identify forward-looking statements by words such as “may”, “will”, “could”, “should”, “expects”, “anticipates”, ” intention â,â plans â,â believes â,â research â,â estimate âand other comparable terms.
The company cautions you that all forward-looking statements presented in this press release are based on beliefs, assumptions made by and information currently available. Such statements are based on assumptions, and actual results will be affected by known and unknown risks, trends, uncertainties and factors that are beyond the control or ability to predict of the company. Although the company believes its assumptions to be reasonable, they are not guarantees of future performance, and some will inevitably prove to be inaccurate. Therefore, the actual future results of the Company can be expected to differ from its expectations, and these differences can be material. Therefore, you should exercise caution in relying on forward-looking statements, which are based only on results and trends known at the time they are made, to anticipate future results or trends. Certain risks are discussed from time to time in the Company’s filings with the SEC, including, but not limited to, its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and any report. quarterly thereafter filed on Form 10-Q.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to issue revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20210920005835/en/
Media contact of the Arena group:
Rachael Fink, Communications Manager
Email: [email protected]
Rob Fink, FNK IR
Email: [email protected]
Phone. : 646-809-4048