Meredith to provide content for Mag Rack Video-on-Demand Network of 25 million+ homes
NEW YORK, NY (September 8, 2009) – Meredith Corporation (NYSE:MDP; www.meredith.com) and Interactivation (www.Interactivation.com) today announced a strategic partnership that will bring video content created across Meredith’s expansive national and local brand platforms to more than 25 million homes beginning this fall.
Under terms of the agreement, Interactivation and Meredith will share advertising and sponsorship revenues sold in association with this new programming. Additionally, Meredith will sell advertising and sponsorships for current Mag Rack network programming with a similar revenue sharing arrangement. Both companies will promote the new arrangement across their diverse media platforms.
“This partnership represents a unique content and revenue-sharing arrangement in the Video on Demand space,” said Meredith President and CEO Steve Lacy. “We possess tremendous video content creation capabilities across our multiple national and local brands. Interactivation’s Mag Rack network has an impressive national footprint across the major cable and satellite television operators. That’s a powerful combination that will be attractive to viewers and marketers alike.”
Meredith reaches more than 75 million American women each month through leading brands such as Better Homes and Gardens, Family Circle, Parents, Ladies’ Home Journal, More and Fitness. Additionally, Meredith owns 12 local television stations, operates more than 50 leading consumer Web sites, and creates women and entertainment-focused syndicated and broadband video content.
“Meredith’s well-known consumer brands and recognized content expertise will be very attractive to Mag Rack’s demographic,” said Joe Covey, CEO of Interactivation. “This partnership bridges print, Web video, and VOD viewed on television in a way that will allow consumers to move seamlessly between media throughout their day.”
Mag Rack is a free VOD television network dedicated to helping viewers make the most of life with content that inspires and informs. On the air since 2001 and with a viewer reach of over 25 million homes, its extensive content categories include Health and Wellness, House and Home, Food, Fitness, Kids and Family, and Relationships.
Meredith Corporation is the leading media and marketing company serving American women. Meredith combines well-known national brands – such as Better Homes and Gardens, Parents and Family Circle – with 12 local network-affiliated television brands in fast-growing markets. These brands have popular and robust Web sites as well.
Interactivation is a New York City-based media company that delivers highly interactive and personalized content to consumers via TV, mobile devices and the internet through its proprietary interactive technology and two Video-on-Demand (VOD) networks, Mag Rack and Concert TV.