Fiscal 2021 third quarter revenues declined 5 percent to $665 million. Key performance indicators included: *21 percent increase in National Media Group digital advertising revenues. Sessions grew 17 percent, led by PEOPLE, Allrecipes, Southern Living, and Martha Stewart. Meredith continues benefiting from its proprietary technology platform that brings together content, unique taxonomy, and first party data. *31 percent increase in National Media Group licensing/digital and other consumer driven revenues. Performance was driven by Apple News+, strong sales of Better Homes & Gardens-branded products at Walmart, and performance marketing via retail partners. *6 percent increase in non-political spot advertising and retransmission revenues. Non-political spot advertising growth was the first since the start of the COVID-19 pandemic, and was driven primarily by the professional services, gaming, and home categories. *19 percent decline in combined magazine advertising, subscription, and newsstand revenues. Advertising performance was impacted primarily by lower than expected performance in the food & beverage and prescription drug categories. Subscription revenue performance reflects a stable 36 million rate base and Meredith's ongoing strategy to engage subscribers directly. This strategy reduces revenue and increases profitability by fostering a stronger and more profitable relationship with subscribers, including the opportunity for rate increases over time. Newsstand performance was impacted primarily by lower demand and fewer issues published.
The United States Postal Service reported new delivery performance metrics for the twelfth week of the fiscal fourth quarter showing the average time to deliver a mailpiece or package across the postal network was 2.5 days. Through Sept. 23, performance across First-Class Mail, Marketing Mail, and Periodicals remains consistent with performance from the fiscal third quarter.
FY2022 fourth quarter service performance scores covering July 1 through Sept. 23 included:
*First-Class Mail: 93.2 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.
*Marketing Mail: 94.7 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.
*Periodicals: 86.8 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.
more at: https://about.usps.com/newsroom/national-releases/2022/0930-delivery-time-across-the-nation-averages-2-5-days.htm