Wall Street analyst Matt Chesler of Deutsche Bank is bullish on publishing giant Meredith, thanks in large part to recent rises in print ad page demand in its titles.
As reported in MediaDailyNews, Chesler’s upbeat outlook comes amid other renewed signs of financial health from the magazine industry, including:
- Hearst’s recent report of its first base rate increase since 2003 for its Town and Country title.
- Meredith’s 6% rise in September print ad pages, on the heels of a 7% bump in August.
- Overall “significantly better” performance year-to-date over last year throughout the industry.
In his letter to investors released last week, Chesler alluded to a “sense of stabilization in the industry.” And while some titles are still showing a downward trend, “the gainers now lead the decliners.”
Stabilization is a beautiful thing, and growth is even better. Good news all around for the publishing industry and its investors.