Meredith Xcelerated Marketing (US)

Meredith Corporation is best known as a leading US magazine publisher, parent to titles such as Better Homes & Gardens and Ladies Home Journal. However with its traditional business under pressure from plunging advertising revenues, the company relaunched its inhouse marketing services unit in 2011 as Meredith Xcelerated Marketing or MXM. Originally established as Meredith Integrated Marketing to publish custom magazines, it has also moved since 2009 into other below-the-lines areas including event management, website design, direct and digital marketing, word-of-mouth and mobile, database analytics and other services. Satellite units, bolted on through a series of acquisitions, include New Media Strategies, The Hyper Factory, Genex and O'Grady Meyers. In 2011, the group established a strategic alliance with independent marketing services network Iris Worldwide, secured through a minority shareholding. AdAge estimated revenues of $180m for 2011; however 2012 has proved more difficult because of cut-backs on spending by clients. The company reported a 15% fall. Ad Age estimated revenues falling to $153m. CEO Martin Reidy left abruptly following a weak first quarter and was replaced by EVP David Brown. Adbrands does not currently offer a business profile for this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.

Capsule checked 20th May 2013

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