Maven growth on track to hit financial targets
This week Maven announced its combined advertisers now reach 110 million monthly users, up from Maven’s 6.1 million in May. The growth is due in part to operational integration with HubPages and Say Media, which transformed the enterprise from a start-up to a top 20 U.S. digital media property. On October 12, 2018, Maven and Say Media signed a final definitive merger agreement, with the merger scheduled to close in December. Maven recently led a reorganization of all three companies into a single operation, creating efficiencies which kept Maven on-track to hit $30 million annualized revenue and EBITDAS positive by end of year, on a combined post-closing basis, assuming the completion of Say Media acquisition closes as scheduled.
The Say Media merger dramatically increases Maven’s scale and brand equity, bringing household brands such as History, Biography, Maxim, SkiMag, Climbing, Fashionista, Guitar World, Inked, and Every Day with Rachael Rayinto Maven’s premium coalition. Growth in Maven’s NFL, Political, and Financial networks have also contributed to the increased scale, with 20 NFL team channels, 23 Finance channels and 28 political destinations now live, and an additional 52 scheduled for migration. Overall, Maven channels grew from 197 in June to 259 in September, and are expected to reach over 300 in December.
“Maven launched less than two years ago, with a loyal team of digital media veterans and a vision to provide a fair, transparent, sustainable ecosystem for authentic content creators - and to unite as a broad-based coalition within a single platform and media brand,” stated CEO James Heckman. “That vision is now a reality at major media scale and quality.”
Maven is a coalition of mavens operating on a shared digital publishing, advertising and distribution platform, unified under a single media brand. Based in Seattle, Maven is publicly traded under the ticker symbol MVEN.