USPS Enters Busy Fall Mail Season With Strong, Steady Service Performance Across All Mail Categories

Revenues grew to $3.0 billion, up 5 percent. Earnings from continuing operations were $307 million, compared to a loss of $209 million. Adjusted EBITDA was $683 million, compared to $548 million. Key accomplishments included: *Digital advertising revenues surpassing magazine for the first time in Meredith's history. Digital advertising grew 31 percent. Additionally, Meredith's licensing and digital and other consumer driven revenues grew 27 percent and 25 percent, respectively. *$254 million debt reduction, enabled by record Cash Flow from Operations and Free Cash Flow. Debt reduction was enabled by total company revenue performance along with proactive actions to enhance Meredith's financial flexibility. *Agreeing to sell Meredith's Local Media Group for $2.825 billion, representing a 10x valuation. The transaction, which also includes spinning Meredith's National Media Group, comprising digital and magazine, out to shareholders, is expected to advance the company's financial priorities including reducing net debt, improving financial flexibility, optimizing capital allocation to high-potential opportunities, and providing returns to shareholders.

First quarter-to-date service performance scores covering the period Oct. 1 through Oct. 22 included: *First-Class Mail: 91.0 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of 3.0 percentage points from the fourth quarter. *Marketing Mail: 92.8 percent of Marketing Mail delivered on time against the USPS service standard, an increase of .2 percentage points from the fourth quarter. *Periodicals: 83.3 percent of Periodicals delivered on time against the USPS service standard, an improvement of 1.2 percentage points from the fourth quarter.

Even before work became WFH and social interaction turned completely digital, people have been longing for tangible elements in our hyper online landscape. Now, the search for sensory engagement beyond what our screens can offer is even more meaningful. And that could mean now is the right time to focus on print in your brand strategy. “Engaging sensory experiences have become even more meaningful during this time of uncertainty,” writes Cecile Jordan in Beyond Definition. “Think about how refreshing it is to take a walk outside. Or open a piece of mail. Not an email or another utility bill. I mean actual snail mail perhaps from a friend or maybe a magazine.” Jordan echoes what many brands are finding; that direct mail and printed marketing is more welcome — and more successful — when our audiences are digitally maxed out.