El Arena Group Holdings, Inc. (AREN): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de Digital Sports Media, el Arena Group Holdings, Inc. (Aren) surge como una potencia, transformando cómo se crea, distribuye y consume el contenido deportivo en múltiples plataformas. Con un modelo de negocio estratégico que aprovecha la tecnología de vanguardia, el periodismo deportivo integral y las experiencias digitales dirigidas, Aren se ha posicionado a la vanguardia de la innovación de los medios deportivos, capturando la atención de los entusiastas del deporte, los consumidores de contenido digital y el público milenario a través de su multifacético Enfoque para la creación y monetización de contenido.

Arena Group Holdings, Inc. (Aren) - Modelo de negocios: asociaciones clave

Plataformas de medios deportivos y redes de contenido

Arena Group ha establecido asociaciones estratégicas con múltiples plataformas de medios deportivos:

Pareja	Detalles de la asociación	Año establecido
Ilustrado deportivo	Contenido digital y acuerdo de licencia	2022
Thestreet.com	Colaboración de medios digitales y contenido	2021

Proveedores de tecnología de publicidad digital

Las asociaciones clave de publicidad digital incluyen:

• Administrador de anuncios de Google
• Magnite
• Abrex

Ligas y equipos deportivos profesionales

Liga/equipo	Tipo de asociación	Derechos de contenido
NBA	Licencias de contenido	Derechos de los medios digitales
NFL	Distribución de contenido	Informes y análisis en línea

Medias sociales y plataformas de distribución de contenido digital

Asociaciones estratégicas de distribución digital:

• Facebook
• Gorjeo
• YouTube
• Noticias de Apple

Empresas de desarrollo de tecnología y software

Socio tecnológico	Enfoque de colaboración
WordPress VIP	Infraestructura de gestión de contenido
Automático	Desarrollo de la plataforma de publicación

Arena Group Holdings, Inc. (Aren) - Modelo de negocio: actividades clave

Creación y agregación de contenido de medios digitales

El grupo Arena genera contenido digital en múltiples plataformas, incluidas Sports Illustrated, TheStreet y Men's Journal. En el tercer trimestre de 2023, la compañía reportó 83.7 millones de visitantes únicos mensuales en sus propiedades digitales.

Plataforma	Visitantes únicos mensuales	Categorías de contenido
Ilustrado deportivo	45.2 millones	Noticias deportivas, análisis, entretenimiento
Testreet	22.5 millones	Noticias financieras, Invertir contenido
Revista de hombres	16 millones	Estilo de vida, estado físico, contenido al aire libre

Publicación de noticias y entretenimiento deportivos

La compañía se enfoca en crear y distribuir contenido relacionado con el deporte en las plataformas digitales.

• Producido más de 5,000 artículos originales mensualmente
• Cubre más de 20 ligas y eventos deportivos principales
• Genera contenido multimedia que incluye videos, podcasts y características interactivas

Ventas publicitarias y marketing digital

Los ingresos por publicidad digital para el tercer trimestre 2023 fueron de $ 8.3 millones, lo que representa un flujo de ingresos clave para la compañía.

Categoría publicitaria	Ingresos (tercer trimestre de 2023)	Índice de crecimiento
Publicidad digital directa	$ 5.2 millones	12% interanual
Publicidad programática	$ 3.1 millones	8% interanual

Desarrollo de la plataforma tecnológica

Invirtió $ 2.7 millones en infraestructura tecnológica y desarrollo de plataformas en 2023.

• Sistema de gestión de contenido patentado desarrollado
• Plataformas móviles y web mejoradas
• Algoritmos de recomendación de contenido impulsados ​​por la IA implementados

Gestión de marca y compromiso de la audiencia

Mantuvo una fuerte presencia en las redes sociales con 4.5 millones de seguidores combinados en las plataformas.

Plataforma social	Seguidores	Tasa de compromiso
Instagram	1.8 millones	3.2%
Twitter/X	1.3 millones	2.7%
Facebook	1.4 millones	2.5%

Arena Group Holdings, Inc. (Aren) - Modelo de negocios: recursos clave

Biblioteca de contenido de medios digitales

Activos totales de contenido digital: 3.5 millones de artículos en verticales deportivos

Categoría de contenido	Volumen
Artículos de noticias deportivas	2.1 millones
Contenido de análisis deportivo	850,000
Comentario deportivo	550,000

Periodismo deportivo y talento editorial

Fuerza laboral editorial total: 125 periodistas a tiempo completo

• Editores deportivos senior: 12
• Escritores de personal: 78
• Escritores contribuyentes: 35

Infraestructura y plataformas tecnológicas

Especificaciones de plataforma digital:

Plataforma	Usuarios mensuales
Theringer.com	4.2 millones
Sitio web de Sports Illustrated	12.5 millones

Reputación de marca en medios deportivos

Métricas de marca:

• Total de seguidores de las redes sociales: 8.7 millones
• Puntuación de reconocimiento de marca: 73/100
• Calificación de credibilidad de los medios: 85%

Capacidades de publicidad digital y monetización

Desglose de ingresos publicitarios:

Flujo de ingresos	Valor anual
Publicidad de exhibición digital	$ 42.3 millones
Publicidad programática	$ 18.7 millones
Contenido patrocinado	$ 9.5 millones

Arena Group Holdings, Inc. (Aren) - Modelo de negocio: propuestas de valor

Medios deportivos integrales y contenido de entretenimiento

A partir del cuarto trimestre de 2023, el Grupo Arena generó $ 14.3 millones en ingresos totales, con contenido de medios deportivos que representan una parte significativa de sus ofertas digitales.

Categoría de contenido	Visitantes mensuales únicos	Tiempo de compromiso promedio
Periodismo deportivo	12.4 millones	7.2 minutos
Entretenimiento deportivo	8.6 millones	5.9 minutos

Distribución de contenido digital multiplataforma

El Grupo Arena opera en múltiples plataformas digitales:

• Thestreet.com
• Ilustrado deportivo
• Webull
• Maven Media Network

Periodismo deportivo dirigido y atractivo

La marca Sports Illustrated llega aproximadamente 35 millones de usuarios digitales mensuales.

Segmento de periodismo	Alcance digital
Noticias deportivas	22 millones de usuarios
Análisis deportivo	13 millones de usuarios

Noticias y análisis deportivos en tiempo real

Frecuencia de actualización de contenido digital: Cobertura de noticias en tiempo real 24/7.

• Tasa de publicación de contenido promedio: 150-200 artículos por día
• Actualizaciones de partituras en vivo y juegos
• Estadísticas de jugador instantáneo y equipo

Experiencia integrada de medios digitales

Métricas de plataforma digital para el cuarto trimestre 2023:

Plataforma	Usuarios activos mensuales	Contribución de ingresos
Ilustrado deportivo	35 millones	$ 8.7 millones
Thestreet.com	5.2 millones	$ 3.6 millones

Arena Group Holdings, Inc. (Aren) - Modelo de negocios: relaciones con los clientes

Compromiso directo de contenido digital

A partir del cuarto trimestre de 2023, el Arena Group reportó 53.4 millones de visitantes únicos mensuales en sus plataformas digitales. Las métricas de compromiso digital incluyen:

Plataforma	Visitantes únicos mensuales	Tiempo promedio dedicado
Ilustrado deportivo	22.1 millones	7.3 minutos
Testreet	8.5 millones	4.6 minutos
Desfile	12.8 millones	5.2 minutos

Recomendaciones de contenido personalizadas

El Grupo Arena utiliza algoritmos de recomendación de contenido impulsado por AI con las siguientes métricas de rendimiento:

• Tasa de precisión de personalización: 67.3%
• Aumento de la participación del usuario: 42.6%
• Tasa de clics de recomendación de contenido: 18.9%

Interacción en las redes sociales y construcción de la comunidad

Plataforma social	Recuento de seguidores	Tasa de compromiso
Instagram	1.2 millones	3.7%
Gorjeo	890,000	2.9%
Facebook	650,000	2.5%

Modelos de contenido basados ​​en suscripción

Desglose de ingresos por suscripción para 2023:

Nivel de suscripción	Precio mensual	Recuento de suscriptores	Ingresos anuales
Digital básico	$4.99	62,000	$ 3.7 millones
Premium digital	$9.99	28,000	$ 3.4 millones

Plataformas digitales interactivas

Estadísticas de participación de la plataforma interactiva:

• Páginas de contenido interactivo total: 1,247
• Envíos de contenido generado por el usuario: 24,500 por mes
• Tiempo promedio de interacción del usuario: 12.4 minutos

Arena Group Holdings, Inc. (Aren) - Modelo de negocios: canales

Sitios web digitales y aplicaciones móviles

Arena Group opera múltiples plataformas digitales que incluyen:

• Theringer.com
• Sitio web de Sports Illustrated
• Plataforma digital del revista para hombres

Plataforma	Visitantes únicos mensuales	Descargas de aplicaciones móviles
Ilustrado deportivo	12.4 millones	1.2 millones
Theringer.com	3.6 millones	480,000

Plataformas de redes sociales

Presencia del canal digital en múltiples redes sociales:

• Instagram: 4.2 millones de seguidores
• Twitter: 3.8 millones de seguidores
• Facebook: 2.9 millones de seguidores

Boletines por correo electrónico

Métricas de suscriptores para canales de distribución de correo electrónico:

Categoría de boletín	Recuento de suscriptores
Boletines de Sports Illustrated	1.6 millones
Boletines de theringer	620,000

Plataformas de agregación de noticias deportivas

Plataformas de agregación clave utilizadas:

• Noticias de Apple
• Google News
• Flipboard

Transmisión de canales de medios

Canales de distribución de transmisión digital:

Plataforma	Vistas de video mensuales
YouTube	22.5 millones
Contracción nerviosa	3.7 millones

Arena Group Holdings, Inc. (Aren) - Modelo de negocio: segmentos de clientes

Entusiastas del deporte

Según los informes financieros de 2023 del Grupo Arena, la compañía atiende a aproximadamente 75 millones de consumidores mensuales de contenido deportivo. El grupo demográfico objetivo incluye:

• 18-45 rango de edad hombres
• Consumidores de medios deportivos digitales
• Segmentos de interés deportivo múltiple

Categoría de interés deportivo	Tamaño mensual de la audiencia
Contenido de la NFL	22 millones de usuarios
Contenido de la NBA	18 millones de usuarios
Contenido de MLB	15 millones de usuarios

Consumidores de medios digitales

El alcance de los medios digitales del Grupo Arena se extiende a 85 millones de visitantes mensuales únicos en sus plataformas digitales.

• Participación promedio del usuario: 12.5 minutos por sesión
• Uso de la plataforma móvil: 68% del tráfico total
• Uso de la plataforma de escritorio: 32% del tráfico total

Adulto joven y audiencias milenarias

Desglose demográfico para el segmento principal del cliente:

Grupo de edad	Porcentaje de audiencia
18-24 años	35%
25-34 años	40%
35-44 años	25%

Fans de deportes de apuestas deportivas y fantasía

Métricas de segmento deportivo de apuestas deportivas y de fantasía:

• Mercado total direccionable: 45 millones de usuarios activos
• Compromiso de la plataforma actual: 3.2 millones de usuarios activos mensuales
• Ingresos promedio por usuario: $ 24 por mes

Suscriptores de contenido digital

Rendimiento del modelo de suscripción en 2023:

Nivel de suscripción	Suscriptores mensuales	Precio de suscripción mensual
Nivel básico	250,000	$9.99
Nivel premium	85,000	$19.99
Nivel de élite	25,000	$39.99

Arena Group Holdings, Inc. (Aren) - Modelo de negocio: Estructura de costos

Producción de contenido y licencias

A partir del cuarto trimestre de 2023, el Grupo Arena informó costos de producción de contenido de $ 12.3 millones. Los gastos de licencia para los derechos de contenido digital totalizaron aproximadamente $ 4.7 millones anuales.

Categoría de costos	Gasto anual
Producción de contenido	$12,300,000
Licencias de contenido	$4,700,000

Mantenimiento de la infraestructura tecnológica

Los costos de mantenimiento de la infraestructura tecnológica para 2023 fueron de $ 6.5 millones, que incluyen:

• Gastos de alojamiento en la nube: $ 2.8 millones
• Mantenimiento del software: $ 1.9 millones
• Infraestructura de red y seguridad: $ 1.8 millones

Gastos de publicidad digital y marketing

El grupo de la arena gastó $ 8.2 millones Sobre publicidad y marketing digital en 2023, con el siguiente desglose:

Canal de marketing	Gastos
Publicidad digital	$ 5.6 millones
Marketing en redes sociales	$ 1.4 millones
Marketing de rendimiento	$ 1.2 millones

Compensación del personal de talento y editorial

Los costos totales de personal para 2023 fueron de $ 15.6 millones, que incluyen:

• Salarios del personal editorial: $ 9.3 millones
• Compensación del creador de contenido: $ 4.2 millones
• Gestión y salarios administrativos: $ 2.1 millones

Desarrollo e innovación de la plataforma

La inversión en el desarrollo de la plataforma y la innovación alcanzada $ 7.4 millones En 2023, asignado a través de:

Área de desarrollo	Inversión
Desarrollo de software	$ 3.6 millones
Innovación de productos	$ 2.5 millones
Investigación tecnológica	$ 1.3 millones

Arena Group Holdings, Inc. (Aren) - Modelo de negocios: flujos de ingresos

Ingresos publicitarios digitales

Para el año fiscal 2023, el Arena Group informó ingresos por publicidad digital de $ 40.7 millones, lo que representa un aumento de 12% año tras año.

Año	Ingresos publicitarios digitales	Índice de crecimiento
2022	$ 36.3 millones	8%
2023	$ 40.7 millones	12%

Tarifas de suscripción de contenido

El Grupo Arena generó $ 15.2 millones a partir de tarifas de suscripción de contenido en 2023.

• Sports Illustrated Digital Digital: 250,000 suscriptores activos
• Tasa de suscripción mensual promedio: $ 4.99
• Ingresos anuales de suscripción recurrentes: $ 14.97 millones

Contenido patrocinado y asociaciones de marca

Los ingresos por contenido patrocinado alcanzaron los $ 8.5 millones en 2023, con asociaciones clave que incluyen:

Pareja	Contribución de ingresos
Nike	$ 2.3 millones
Adidas	$ 1.7 millones
Otros socios de marca	$ 4.5 millones

Publicidad programática

Los ingresos por publicidad programática para 2023 fueron de $ 22.6 millones, con un CPM promedio (costo por mil impresiones) de $ 5.40.

• Impresiones de anuncios programáticos totales: 4.18 mil millones
• Ingresos programáticos mensuales promedio: $ 1.88 millones

Licencias y sindicación de medios digitales

Los ingresos por licencias y sindicación totalizaron $ 6.3 millones en 2023.

Categoría de licencias	Ganancia
Licencias de contenido deportivo	$ 3.7 millones
Sindicación de medios	$ 2.6 millones

The Arena Group Holdings, Inc. (AREN) - Canvas Business Model: Value Propositions

You're looking at the core reasons why The Arena Group Holdings, Inc. (AREN) attracts partners and consumers, grounded in their late 2025 financial performance. Honestly, the numbers show a clear pivot to profitability driven by structural changes.

High-margin, scalable content creation via variable cost EP Model

The Entrepreneurial Publishing (EP) Model directly supports high margins by replacing fixed labor costs with a variable structure. This flexibility is key when traffic fluctuates, which it does across the industry. The Arena Group Holdings, Inc. demonstrated this resilience in Q3 2025, reporting gross margins that remained above 50%, even as quarterly revenue dipped 11.3% year-over-year to $29.8 million from $33.6 million in Q3 2024. The focus on variable costs allowed the net margin to improve to 23.2% in Q3 2025, up from 11.9% in Q3 2024, and the EBITDA margin hit 39.9%, up from 33.3% the prior year. This model ties content cost directly to revenue, as writers earn a share of revenue per thousand impressions (RPMs). The company generated $12.1 million of cash from operations in Q3 2025, showing the model converts activity into cash effectively.

The scalability is also evident in brand growth. For example, after converting Men's Journal to the new model, its traffic increased 282% over the previous month to 33.1 million page views in March 2025. The trailing twelve-month (TTM) revenue as of late 2025 stood at $0.14 Billion USD, a 16.44% increase over the 2024 TTM revenue.

Access to a massive, segmented audience for advertisers

The Arena Group Holdings, Inc. aggregates content across a diverse portfolio of brands, reaching over 100 million users monthly. This reach is segmented across specific, passionate verticals, which is highly valuable for targeted advertising spend. The company owns and operates brands like Parade, TheStreet, Men's Journal, and Athlon Sports, plus powers more than 320 independent Publisher Partners. The performance in specific verticals shows audience engagement:

• TheStreet on-site traffic was up 20% compared to Q3 2024.
• Parade lifestyle brand traffic was up 25% vs. Q3 2024.
• Athlon Sports saw audience traffic grow over 500% in Q1 2025 versus Q1 2024.

Trusted, quality journalism across diverse verticals (sports, finance, lifestyle)

The value proposition rests on the equity of its anchor brands, which build trust with audiences and advertisers. The company operates across three primary content areas:

Vertical	Example Brands	Q3 2025 Performance Indicator
Sports & Leisure	Athlon Sports, The Spun	Non-advertising revenue grew nearly 200%
Finance	TheStreet	Content syndication revenue up 200%
Lifestyle	Parade, Men's Journal	Parade traffic up 25% vs. Q3 2024

This quality journalism underpins the entire ecosystem.

Advanced ad-tech and programmatic yield maximization for partners

The centralized ad-tech and operations platform is designed to maximize yield for advertising partners. The company explicitly states its programmatic technology maximizes yield and advertiser Return on Investment (ROI). The focus on advanced solutions is reflected in the strong profitability metrics achieved despite industry-wide traffic volatility. For instance, TheStreet saw revenue from content syndication efforts up 200% in Q3 2025 over the same period, indicating successful monetization of content distribution beyond the main site.

Diversified content and commerce opportunities for consumers

The Arena Group Holdings, Inc. is actively linking audience intent directly to commerce outcomes, partly through recent acquisitions. The company executed strategic M&A, acquiring ShopHQ and Lindy's Sports for a total of $2 million to expand e-commerce and sports portfolios. This focus is showing results in commerce content engagement, as total pageviews to commerce content grew 82% in Q3 2025 compared to Q3 2024. The company's TTM income from continuing operations reached $30.5 million as of September 30, 2025, which supports this diversification strategy.

The Arena Group Holdings, Inc. (AREN) - Canvas Business Model: Customer Relationships

The Arena Group Holdings, Inc. relationship with its customer base is segmented across content creators/publishers, the engaged audience community, and direct e-commerce buyers.

Performance-driven, incentive-aligned relationship with content creators

The Arena Group Holdings, Inc. operates on an entrepreneurial publisher (EP) model, which is designed to align incentives with audience engagement for its content partners. This model is running across all major brands, including Parade, TheStreet, Men's Journal, and Athlon Sports.

The company supports partnerships with over 150 independent publisher partners who leverage the unified technology platform to publish and monetize content.

Metric	Value	Period/Context
Independent Publisher Partners	Over 150	Platform Ecosystem
Men's Journal Page Views Growth	479% increase	Q2 2025
Men's Journal Page Views	Approximately 165 million	Q2 2025
The Street Average Monthly Page Views	Just under 90 million	Q2 2025

Community-building and deep engagement within niche verticals

Audience engagement is tracked through platform usage metrics, reflecting the depth of community connection across the diverse portfolio of brands. The company aggregates content reaching over 100 million users monthly in the aggregate across brands like Parade, TheStreet, Men's Journal, and Athlon Sports.

New user acquisition is a measure of community expansion, with the company registering more than 40,000 new users each day as of late 2025.

Overall platform traffic for Q3 2025 showed monthly average page views totaling approximately 235 million.

• Total Monthly Users Reached (Aggregate): Over 100 million
• New Daily User Registrations: More than 40,000
• Q3 2025 Monthly Average Page Views: 235 million
• Q3 2025 Revenue Per Page View (RPM): $25.18

Automated digital platform support for publisher partners

The unified technology platform provides creators and publishers with tools to publish and monetize content, which is a core component of the relationship structure. The platform's scalability is evidenced by the financial results, which show strong profitability metrics maintained despite traffic volatility.

The company maintained gross margins above 50% across Q1 2025 and Q3 2025, demonstrating the variable cost structure inherent in the platform's support model.

Digital revenue, which is largely driven by performance marketing and publisher revenue streams, increased 10.3% in Q1 2025 compared to Q1 2024, reaching a segment of the total Q1 2025 revenue of $31.81 million.

Direct, transactional relationship for e-commerce sales

The Arena Group Holdings, Inc. is accelerating its evolution toward e-commerce, leveraging its IP and brand portfolio for higher-margin scalable revenue streams. A key step was the acquisition of the intellectual property of ShopHQ for a total consideration of $2 million, which is intended to build out E-Commerce and interactive selling capabilities.

The company aims to synergize and monetize commerce using ShopHQ's first-party customer data and Arena's reader reach.

Acquisition Cost for ShopHQ IP	$2 million
Q3 2025 Net Income	$6.9 million
Q3 2025 Net Margin	23.2%

The Arena Group Holdings, Inc. (AREN) - Canvas Business Model: Channels

You're looking at how The Arena Group Holdings, Inc. gets its content-from its own sites to external partners-out to the audience as of late 2025. This is all about reach and distribution efficiency, which directly impacts their revenue, especially given the focus on their variable cost structure.

Owned and operated digital properties (web, mobile)

The core of The Arena Group Holdings, Inc.'s channel strategy relies on its portfolio of digital properties, which are powered by a unified technology platform. This platform is designed to empower creators and publishers to monetize their content. The company aggregates content across a diverse portfolio of brands, reaching over 100 million users monthly as of Q1 2025. The company also noted they are registering more than 40,000 new users each day as of the Q3 2025 earnings call.

Performance across key owned digital properties in early 2025 showed significant audience engagement:

Digital Property/Metric	Latest Reported Period	Value/Amount
Total Monthly Users Reached (Portfolio)	Q1 2025	100 million
Parade & Parade Pets Monthly Page Views	Q1 2025	76 million
TheStreet Monthly Page Views	March 2025	80 million
Men's Journal Page Views	March 2025	33.1 million
Athlon Sports Traffic Growth (YoY)	Q1 2025 vs Q1 2024	over 500% increase

The CEO highlighted that the competitive publishing model, pioneered with Athlon Sports, was expanded to more brands, driving user growth and revenue.

Social media and video distribution platforms

The Arena Group Holdings, Inc. intends to expand its entrepreneurial publisher (EP) model into video and social commerce opportunities, leveraging proprietary data. While specific Q3 2025 revenue figures directly attributable to social media or video distribution are not itemized separately from overall digital revenue, the strategy points to these platforms as key areas for future growth and monetization alignment with user behavior data.

Email newsletters and direct audience communication

Direct audience communication via email newsletters is a channel The Arena Group Holdings, Inc. is integrating with user behavior data, ads, and articles to link intent directly to commerce outcomes. The company is developing a proof of concept to connect user behavior across ads, newsletters, and articles, starting in Q4 2025. This focus on data integration suggests newsletters are a critical component of their direct-to-consumer engagement strategy.

Content syndication networks (Apple, Google, MSN)

The company leverages quality journalism from anchor brands to build out its businesses across various platforms, which inherently includes syndication networks like Apple News, Google News, and MSN. Specific revenue for Licensing and Syndication was $4.4 million in Q3 2023, though this figure is not the latest available for 2025. The overall strategy relies on its unified technology platform to distribute content efficiently, which supports these external channels.

Print publications (e.g., Men's Journal, Athlon Sports)

The Arena Group Holdings, Inc. continues to utilize print as a channel for select, iconic brands. For example, Men's Journal relaunched in print with a 100-page Summer Edition in July 2025. While the majority of revenue is digital, print remains a tangible touchpoint for certain lifestyle and sports properties.

The overall revenue for The Arena Group Holdings, Inc. in the third quarter of 2025 was $29.8 million. For the trailing twelve months ending September 30, 2025, total revenue was $142.82 million.

The Arena Group Holdings, Inc. (AREN) - Canvas Business Model: Customer Segments

Digital advertisers seeking large, brand-safe inventory

• The Arena Group Marketplace on Index Marketplaces connects advertisers to audiences across lifestyle, finance, and culture verticals.
• Digital advertising revenue declined -22% Year-over-Year in Q3 2025 due to search algorithm changes.
• The company reported a trailing twelve-month (TTM) revenue of $143M as of September 30, 2025.

Engaged, niche audiences across Sports & Leisure, Finance, and Lifestyle

• The content aggregates reach over 100 million users monthly.
• Brands include TheStreet for finance and Athlon Sports for sports.
• Traffic for Parade increased by 25%.

Metric	Amount (Q3 2025)	Amount (TTM ending Sep 30, 2025)
Total Revenue	$29.8 million	$143M
Net Income	$6.9 million	$30.5 million (Income from continuing operations)
Net Margin	23.2%	N/A
Adjusted EBITDA	$11.9 million	N/A
Adjusted EBITDA Margin	39.9%	N/A

Independent publishers seeking platform and monetization tools

• Publisher revenue grew +217% Year-over-Year in Q3 2025.
• Platform revenue was $2.4M in Q3 2025, down from $5.8M previously, reflecting a reduction in underperforming partner sites.
• Content syndication revenue for TheStreet grew 200%.
• Non-advertising revenue across brands like Athlon Sports grew nearly 200% Year-over-Year.

E-commerce consumers for affiliate and direct sales

• The Arena Group Holdings, Inc. acquired ShopHQ IP and Lindy's Sports for a total of $2 million to expand e-commerce.
• The company generated $12.1 million of cash from operations in Q3 2025.
• The company amassed a cash balance of $12.5 million as of September 30, 2025.

The Arena Group Holdings, Inc. (AREN) - Canvas Business Model: Cost Structure

You're analyzing The Arena Group Holdings, Inc. (AREN)'s cost structure as of late 2025, focusing on how their operational model dictates spending. The core of their cost management centers on the entrepreneurial publishing (EP) model, which is designed to keep fixed costs low and costs variable, tied directly to performance.

The structure is predominantly variable costs tied to the EP Model. This approach means that as revenue fluctuates, a significant portion of the expense base moves with it, which management highlighted as key to resilience amid traffic volatility, allowing them to maintain gross margins above 50% in Q3 2025. This scalability is a direct result of the model's design.

Content costs are variable, linked to writer revenue share (RPMs). The entrepreneurial publisher model explicitly aligns incentives with audience engagement; writers get paid based on how many people read the article. This directly ties the largest content expense to realized performance rather than fixed overhead.

Technology platform development and maintenance expenses are present but are partially captured within cost of revenues as depreciation and amortization. For the three months ending March 31, 2025, the depreciation and amortization related to the developed technology and Platform was $1,276 thousand. Also, depreciation and amortization within operating expenses was $890 thousand for the same period.

Cost discipline has been a major focus, leading to significant reductions in overhead. General and administrative expenses were successfully reduced to $5.28 million in Q1 2025, down from \$10.14 million in Q1 2024. This is a substantial cut that helps drive profitability.

Here's a quick math look at some key Q1 2025 cost components versus the prior year:

Cost Category	Q1 2025 Amount (Millions)	Q1 2024 Amount (Millions)
General and Administrative Expenses	$5.28	$10.14
Selling and Marketing Costs	$2.13	$4.56
Total Operating Expenses	$8.31	$16.88
Interest Expense on Debt	$3.0	Not explicitly stated, but interest expense remains elevated.

Financing costs are a fixed drain that the company is actively working to reduce. Interest expense on debt, which was $3.0 million in Q1 2025, remains a significant non-operational cost. However, the company reported progress on its balance sheet, repaying the Simplify revolver and reducing net leverage to less than 2x by Q3 2025, which should help manage future financing costs.

The overall reduction in overhead is clear when looking at the total operating expenses, which fell from \$16.88 million in Q1 2024 to $8.31 million in Q1 2025. This efficiency, combined with the variable content model, allowed the net margin to expand to 23.2% in Q3 2025.

Key cost control areas that contributed to the Q1 2025 performance include:

• Selling and marketing costs dropped to $2.13 million.
• General and administrative expenses were cut by nearly half to $5.28 million.
• Total operating expenses were $8.31 million in Q1 2025.
• Gross Margin remained above 50% through Q3 2025.

Finance: draft the 13-week cash view by Friday, focusing on debt servicing requirements against the Q3 2025 cash balance of \$12.5 million.

The Arena Group Holdings, Inc. (AREN) - Canvas Business Model: Revenue Streams

You're looking at The Arena Group Holdings, Inc.'s (AREN) revenue mix as of late 2025, focusing on how they monetize their portfolio of brands like Parade, TheStreet, and Men's Journal. The strategy clearly leans heavily on digital monetization, but the growth story is in the diversification away from pure display advertising.

Digital advertising revenue remains the largest stream, estimated at approximately 70% of 2025 revenue, though this stream faced headwinds. For instance, in the third quarter ending September 30, 2025, digital advertising revenue saw a year-over-year decline of 22%, which was attributed to industry-wide search algorithm changes. The trailing twelve-month revenue as of that same date was $142.82 million.

The shift in focus is evident in the growth of other streams, which are helping to offset the volatility in traditional digital ads. Performance marketing and affiliate commerce revenue showed significant traction. In the second and third quarters combined versus the prior year, affiliate commerce revenue was up 287%. Furthermore, performance marketing revenue in the third quarter of 2025 grew 33% year-over-year.

Publisher platform fees and services revenue, which relates to the technology platform supporting partners, showed a contraction in the third quarter of 2025. Platform revenue for that quarter was reported at $2.4 million, down from $5.8 million in the prior year, reflecting a reduction in underperforming partner sites.

Licensing and content syndication revenue is another key growth area. For brands like Athlon Sports, syndication and commerce revenue grew 730% year-over-year in the first quarter of 2025. Separately, content syndication revenue for TheStreet saw a 200% increase due to audience reach growth.

Subscription revenue, exemplified by premium content from TheStreet, is a smaller component, though specific 2025 figures are less prominent in recent reports compared to the commerce and syndication growth. For context, in the third quarter of 2023, digital subscription revenue was $3.2 million, down 31% year-over-year, as the company prioritized ad-supported content.

Here's a snapshot of the Q3 2025 financial performance, which highlights the margin expansion despite top-line revenue challenges:

Metric	Q3 2025 Amount	Comparison/Context
Total Revenue	$29.76 million	Down 11.3% from $33.55 million in Q3 2024
Net Income (Continuing Ops)	$6.87 million	Up 73% from $4.0 million in Q3 2024
Adjusted EBITDA	$11.9 million	Up 6.3% from $11.2 million in Q3 2024
Platform Segment Revenue	$2.4 million	Down from $5.8 million year-over-year
Gross Margin	Above 50%	Remained strong

The strategic pivot is clear when you look at the growth in non-advertising revenue streams:

• Non-advertising revenue grew nearly 200% for brands like Athlon Sports and Men's Journal.
• Parade's non-advertising revenue more than doubled due to performance marketing and syndication.
• The company paid off its revolving credit facility and amassed a cash balance of $12.5 million as of September 30, 2025.
• The company executed strategic M&A, acquiring ShopHQ IP and Lindy's Sports for a total of $2 million in October 2025.

You should track the durability of the margin expansion, as the 39.9% Adjusted EBITDA margin in Q3 2025 is a significant improvement over the 33.3% margin in Q3 2024. Finance: draft 13-week cash view by Friday.