IAC Reports Q4 2022 Results

Bauer Media UK is to add two new magazines to its successful Puzzles portfolio. The company, which already publishes a number of Take a Break puzzles magazines, today launches Bella Puzzles Train Your Brain – a brand extension to Bella, one of the nation’s most popular women’s weekly titles. The monthly title, priced at £2.50, offers 84 pages of challenging puzzles to help train the brain as well as features on mindfulness, well-being and health that will feel familiar to Bella readers. A second standalone title, Bigger Better Puzzles, hits newsstands on Thursday (14 January) and marks Bauer Media UK’s first dedicated large-print mixed puzzle magazine.

Learning technology company HMH today announced that its leadership consulting organization, the Center for Model Schools, and AASA, The School Superintendents Association, are partnering to support superintendents and school system leaders as they work to transform their communities, improve teaching and learning and advance equity. The Center and AASA will provide opportunities for ongoing leadership collaboration throughout the year to deepen connections and support student success. Through the new Superintendents Teaching and Learning Network supported by both organizations, district leaders will engage in a multi-year effort to develop and refine their transformation strategies with experts and peers and apply their learning within their communities. Additionally, the Center’s Model Schools Conference, which brings together 5,000 educators annually, will become a milestone event for AASA’s educational leadership initiative, AASA Learning 2025.

Key Fourth Quarter Highlights • The Company added approximately 300,000 net digital-only subscribers compared with the end of the third quarter of 2023, fueled by bundle and multi-product subscriber additions • Total digital-only average revenue per user (“ARPU”) grew 3.5 percent year-over-year to $9.24 primarily as a result subscribers graduating from promotional to higher prices and price increases on tenured non-bundled subscribers • Higher digital subscribers and ARPU drove year-over-year growth in subscription revenues from digital products of 7.2 percent • Digital advertising revenues decreased 3.7 percent year-over-year largely as a result of the five fewer days in the fourth quarter of 2023 compared to 2022 as well as declines in revenue from our podcasts and creative services • Operating costs decreased 4.8 percent year-over-year and adjusted operating costs (defined below) decreased 0.7 percent, largely as a result of lower cost of revenue, partially offset by higher salesand marketing and product development costs • Operating profit of $129.0 million, a 38.7 percent increase year-over-year, with adjusted operating profit (defined below) of $154.0 million, an 8.5 percent increase year-over-year primarily as a result of higher digital subscription and other revenues as well as lower adjusted operating costs, partially offset by lower advertising revenues