The Arena Group Holdings, Inc. (Aren): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique des médias sportifs numériques, The Arena Group Holdings, Inc. (Aren) émerge comme une puissance, transformant la façon dont le contenu sportif est créé, distribué et consommé sur plusieurs plateformes. Avec un modèle commercial stratégique qui tire parti de la technologie de pointe, du journalisme sportif complet et des expériences numériques ciblées, Aren s'est positionné à l'avant-garde de l'innovation des médias sportifs, en capturant l'attention des amateurs de sport, des consommateurs de contenu numérique et du public millénaire grâce à ses multiples réactifs Approche de la création de contenu et de la monétisation.

The Arena Group Holdings, Inc. (Aren) - Modèle commercial: partenariats clés

Plateformes de médias sportifs et réseaux de contenu

Le groupe Arena a établi des partenariats stratégiques avec plusieurs plateformes de médias sportifs:

Partenaire	Détails du partenariat	Année établie
Sports illustrés	Contenu numérique et accord de licence	2022
TheStreet.com	Collaboration numérique des médias et du contenu	2021

Fournisseurs de technologies de publicité numérique

Les principaux partenariats publicitaires numériques comprennent:

• Google AD Manager
• Vigilance
• Openx

Ligues et équipes sportives professionnelles

Ligue / équipe	Type de partenariat	Droits de contenu
NBA	Licence de contenu	Droits médias numériques
NFL	Distribution de contenu	Rapports et analyses en ligne

Plateformes de distribution de médias sociaux et de contenu numérique

Partenariats stratégiques de distribution numérique:

• Facebook
• Gazouillement
• Youtube
• Apple News

Entreprises de développement de technologies et de logiciels

Partenaire technologique	Focus de la collaboration
WordPress VIP	Infrastructure de gestion de contenu
Automatte	Développement de la plate-forme de publication

The Arena Group Holdings, Inc. (Aren) - Modèle commercial: activités clés

Création et agrégation de contenu numérique des médias

Le groupe Arena génère du contenu numérique sur plusieurs plateformes, notamment Sports Illustrated, TheStreet et Men's Journal. Au troisième trimestre 2023, la société a signalé 83,7 millions de visiteurs uniques mensuels dans ses propriétés numériques.

Plate-forme	Visiteurs uniques mensuels	Catégories de contenu
Sports illustrés	45,2 millions	Actualités sportives, analyse, divertissement
Thestreet	22,5 millions	Nouvelles financières, investir du contenu
Journal masculin	16 millions	Style de vie, fitness, contenu en plein air

Publication des nouvelles sportives et des divertissements

L'entreprise se concentre sur la création et la distribution du contenu sportif sur les plateformes numériques.

• Produit plus de 5 000 articles originaux par mois
• Couvre 20+ ligues et événements sportifs majeurs
• Génère du contenu multimédia, y compris des vidéos, des podcasts et des fonctionnalités interactives

Ventes publicitaires et marketing numérique

Les revenus publicitaires numériques pour le troisième trimestre 2023 étaient de 8,3 millions de dollars, ce qui représente une source de revenus clé pour la société.

Catégorie publicitaire	Revenus (T1 2023)	Taux de croissance
Publicité numérique directe	5,2 millions de dollars	12% en glissement annuel
Publicité programmatique	3,1 millions de dollars	8% en glissement annuel

Développement de la plate-forme technologique

A investi 2,7 millions de dollars dans l'infrastructure technologique et le développement de plateformes en 2023.

• Système de gestion de contenu propriétaire développé
• Plateformes mobiles et Web améliorées
• Les algorithmes de recommandation de contenu axés sur l'IA

Gestion de la marque et engagement du public

A maintenu une forte présence sur les réseaux sociaux avec 4,5 millions de followers combinés sur toutes les plateformes.

Plate-forme sociale	Abonnés	Taux d'engagement
Instagram	1,8 million	3.2%
Twitter / x	1,3 million	2.7%
Facebook	1,4 million	2.5%

The Arena Group Holdings, Inc. (Aren) - Modèle d'entreprise: Ressources clés

Bibliothèque de contenu de médias numériques

Total des actifs de contenu numérique: 3,5 millions d'articles à travers les verticaux sportifs

Catégorie de contenu	Volume
Articles de presse sportive	2,1 millions
Contenu de l'analyse sportive	850,000
Commentaire sportif	550,000

Journalisme sportif et talent éditorial

Total des effectifs éditoriaux: 125 journalistes à temps plein

• Éditeurs sportifs seniors: 12
• Rédacteurs du personnel: 78
• Écrivains contributifs: 35

Infrastructure et plateformes technologiques

Spécifications de la plate-forme numérique:

Plate-forme	Utilisateurs mensuels
Theader.com	4,2 millions
Site Web de sports illustré	12,5 millions

Réputation de la marque dans les médias sportifs

Métriques de la marque:

• Total des adeptes des médias sociaux: 8,7 millions
• Score de reconnaissance de la marque: 73/100
• Note de crédibilité des médias: 85%

Capacités de publicité et de monétisation numériques

Répartition des revenus publicitaires:

Flux de revenus	Valeur annuelle
Publicité d'affichage numérique	42,3 millions de dollars
Publicité programmatique	18,7 millions de dollars
Contenu sponsorisé	9,5 millions de dollars

The Arena Group Holdings, Inc. (Aren) - Modèle d'entreprise: propositions de valeur

Contenu complet des médias sportifs et du divertissement

Au quatrième trimestre 2023, le groupe Arena a généré 14,3 millions de dollars de revenus totaux, le contenu des médias sportifs représentant une partie importante de leurs offres numériques.

Catégorie de contenu	Visiteurs mensuels uniques	Temps d'engagement moyen
Journalisme sportif	12,4 millions	7,2 minutes
Divertissement sportif	8,6 millions	5,9 minutes

Distribution de contenu numérique multiplateforme

Le groupe Arena fonctionne sur plusieurs plates-formes numériques:

• TheStreet.com
• Sports illustrés
• Webull
• Maven Media Network

Journalisme sportif ciblé et engageant

La marque Sports Illustrated atteint approximativement 35 millions d'utilisateurs numériques mensuels.

Segment du journalisme	Portée numérique
Nouvelles sportives	22 millions d'utilisateurs
Analyse sportive	13 millions d'utilisateurs

Actualités et analyses sportives en temps réel

Fréquence de mise à jour du contenu numérique: Couverture d'information en temps réel 24/7.

• Taux de publication de contenu moyen: 150-200 articles par jour
• Score en direct et mises à jour du jeu
• Statistiques instantanées des joueurs et de l'équipe

Expérience médiatique numérique intégrée

Métriques de plate-forme numérique pour le quatrième trimestre 2023:

Plate-forme	Utilisateurs actifs mensuels	Contribution des revenus
Sports illustrés	35 millions	8,7 millions de dollars
TheStreet.com	5,2 millions	3,6 millions de dollars

The Arena Group Holdings, Inc. (Aren) - Modèle d'entreprise: relations avec les clients

Engagement de contenu numérique direct

Au quatrième trimestre 2023, le groupe Arena a rapporté 53,4 millions de visiteurs uniques mensuels sur ses plateformes numériques. Les mesures d'engagement numérique comprennent:

Plate-forme	Visiteurs uniques mensuels	Temps moyen passé
Sports illustrés	22,1 millions	7,3 minutes
Thestreet	8,5 millions	4,6 minutes
Parade	12,8 millions	5,2 minutes

Recommandations de contenu personnalisés

Le groupe Arena utilise des algorithmes de recommandation de contenu dirigés par AI avec les métriques de performance suivantes:

• Taux de précision de la personnalisation: 67,3%
• Augmentation de l'engagement des utilisateurs: 42,6%
• Recommandation de contenu Taux de clics: 18,9%

Interaction des médias sociaux et bâtiment communautaire

Plate-forme sociale	Nombre de suiveurs	Taux d'engagement
Instagram	1,2 million	3.7%
Gazouillement	890,000	2.9%
Facebook	650,000	2.5%

Modèles de contenu basés sur l'abonnement

Répartition des revenus d'abonnement pour 2023:

Niveau d'abonnement	Prix ​​mensuel	Nombre d'abonné	Revenus annuels
Numérique de base	$4.99	62,000	3,7 millions de dollars
Numérique premium	$9.99	28,000	3,4 millions de dollars

Plates-formes numériques interactives

Statistiques d'engagement de la plate-forme interactive:

• Pages de contenu interactif total: 1 247
• Souvances de contenu générées par l'utilisateur: 24 500 par mois
• Temps moyen d'interaction utilisateur: 12,4 minutes

The Arena Group Holdings, Inc. (Aren) - Modèle d'entreprise: canaux

Sites Web numériques et applications mobiles

Le groupe Arena exploite plusieurs plateformes numériques, notamment:

• Theader.com
• Site Web de sports illustré
• Plateforme numérique du journal masculin

Plate-forme	Visiteurs uniques mensuels	Téléchargements d'applications mobiles
Sports illustrés	12,4 millions	1,2 million
Theader.com	3,6 millions	480,000

Plateformes de médias sociaux

Présence du canal numérique sur plusieurs réseaux sociaux:

• Instagram: 4,2 millions d'abonnés
• Twitter: 3,8 millions d'abonnés
• Facebook: 2,9 millions d'abonnés

Envoyez des newsletters

Métriques des abonnés pour les canaux de distribution des e-mails:

Catégorie de newsletter	Nombre d'abonné
Newsletters de sports illustrés	1,6 million
Newsletters	620,000

Plateformes d'agrégation de nouvelles sportives

Plates-formes d'agrégation clés utilisées:

• Apple News
• Google News
• Bordereau

Streaming Media Channels

Canaux de distribution de streaming numérique:

Plate-forme	Vues vidéo mensuelles
Youtube	22,5 millions
Tic	3,7 millions

The Arena Group Holdings, Inc. (Aren) - Modèle d'entreprise: segments de clientèle

Passionnés de sport

Selon les rapports financiers en 2023 du groupe Arena, la société dessert environ 75 millions de consommateurs mensuels de contenu sportif. Le groupe démographique cible comprend:

• 18-45 hommes mâles
• Consommateurs de médias sportifs numériques
• Plusieurs segments d'intérêt sportif

Catégorie d'intérêt sportif	Taille du public mensuel
Contenu de la NFL	22 millions d'utilisateurs
Contenu NBA	18 millions d'utilisateurs
Contenu MLB	15 millions d'utilisateurs

Consommateurs de médias numériques

La portée des médias numériques du groupe Arena s'étend à 85 millions de visiteurs mensuels uniques sur ses plateformes numériques.

• Engagement moyen des utilisateurs: 12,5 minutes par session
• Utilisation de la plate-forme mobile: 68% du trafic total
• Utilisation de la plate-forme de bureau: 32% du trafic total

Jeune adulte et public du millénaire

Déchange démographique pour le segment de clientèle principal:

Groupe d'âge	Pourcentage d'audience
18-24 ans	35%
25-34 ans	40%
35 à 44 ans	25%

Paries sportives et fans de sport fantastiques

Paries sportives et segments de sports fantastiques Métriques:

• Marché total adressable: 45 millions d'utilisateurs actifs
• Engagement actuel de la plate-forme: 3,2 millions d'utilisateurs actifs mensuels
• Revenu moyen par utilisateur: 24 $ par mois

Abonnés de contenu numérique

Performance du modèle d'abonnement en 2023:

Niveau d'abonnement	Abonnés mensuels	Prix ​​d'abonnement mensuel
Niveau de base	250,000	$9.99
Niveau supérieur	85,000	$19.99
Niveau d'élite	25,000	$39.99

The Arena Group Holdings, Inc. (Aren) - Modèle d'entreprise: Structure des coûts

Production et licence de contenu

Au quatrième trimestre 2023, le groupe Arena a déclaré des coûts de production de contenu de 12,3 millions de dollars. Les dépenses de licence pour les droits de contenu numérique ont totalisé environ 4,7 millions de dollars par an.

Catégorie de coûts	Dépenses annuelles
Production de contenu	$12,300,000
Licence de contenu	$4,700,000

Maintenance des infrastructures technologiques

Les coûts de maintenance des infrastructures technologiques pour 2023 étaient de 6,5 millions de dollars, notamment:

• Dépenses d'hébergement cloud: 2,8 millions de dollars
• Maintenance du logiciel: 1,9 million de dollars
• Infrastructure de réseau et de sécurité: 1,8 million de dollars

Frais de publicité numérique et de marketing

Le groupe d'arène dépensé 8,2 millions de dollars sur la publicité et le marketing numériques en 2023, avec la ventilation suivante:

Canal de marketing	Frais
Publicité numérique	5,6 millions de dollars
Marketing des médias sociaux	1,4 million de dollars
Marketing de performance	1,2 million de dollars

Compensation des talents et du personnel éditorial

Les coûts totaux du personnel pour 2023 étaient de 15,6 millions de dollars, notamment:

• Salaires du personnel éditorial: 9,3 millions de dollars
• Compensation du créateur de contenu: 4,2 millions de dollars
• Salaires de gestion et d'administration: 2,1 millions de dollars

Développement et innovation de la plate-forme

L'investissement dans le développement de la plate-forme et l'innovation atteint 7,4 millions de dollars en 2023, alloué à travers:

Zone de développement	Investissement
Développement de logiciels	3,6 millions de dollars
Innovation de produit	2,5 millions de dollars
Recherche technologique	1,3 million de dollars

The Arena Group Holdings, Inc. (Aren) - Modèle commercial: Strots de revenus

Revenus publicitaires numériques

Pour l'exercice 2023, le groupe Arena a déclaré des revenus publicitaires numériques de 40,7 millions de dollars, ce qui représente une augmentation de 12% d'une année sur l'autre.

Année	Revenus publicitaires numériques	Taux de croissance
2022	36,3 millions de dollars	8%
2023	40,7 millions de dollars	12%

Frais d'abonnement de contenu

Le groupe Arena a généré 15,2 millions de dollars à partir des frais d'abonnement de contenu en 2023.

• Abonnements numériques illustrés sportifs: 250 000 abonnés actifs
• Taux d'abonnement mensuel moyen: 4,99 $
• Revenus d'abonnement récurrent annuel: 14,97 millions de dollars

Contenu sponsorisé et partenariats de marque

Les revenus de contenu sponsorisé ont atteint 8,5 millions de dollars en 2023, avec des partenariats clés, notamment:

Partenaire	Contribution des revenus
Nike	2,3 millions de dollars
Adidas	1,7 million de dollars
Autres partenaires de marque	4,5 millions de dollars

Publicité programmatique

Les revenus publicitaires programmatiques pour 2023 étaient de 22,6 millions de dollars, avec un CPM moyen (coût pour mille impressions) de 5,40 $.

• Impressions totales de publicité programmatique: 4,18 milliards
• Revenu programmatique mensuel moyen: 1,88 million de dollars

Licence et syndication des médias numériques

Les revenus de licence et de syndication ont totalisé 6,3 millions de dollars en 2023.

Catégorie de licence	Revenu
Licence de contenu sportif	3,7 millions de dollars
Syndication des médias	2,6 millions de dollars

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.