Ziff Davis, Inc. (ZD): Business Model Canvas [Jan-2025 Mis à jour]

Dans le domaine dynamique des médias et de la technologie numériques, Ziff Davis, Inc. (ZD) est une puissance de l'innovation, naviguant stratégiquement dans le paysage complexe de la création de contenu, de la publicité numérique et des informations technologiques. By leveraging a sophisticated business model that intertwines cutting-edge digital platforms, targeted content, and robust advertising solutions, ZD has transformed itself from a traditional publishing company into a multifaceted digital ecosystem that serves technology enthusiasts, businesses, and digital consumers across multiple channels and segments.

Ziff Davis, Inc. (ZD) - Modèle commercial: partenariats clés

Plates-formes technologiques

Ziff Davis maintient des partenariats stratégiques avec les principales plateformes technologiques:

Partenaire	Détails du partenariat	Valeur de collaboration annuelle
Microsoft Azure	Infrastructure cloud et solutions d'entreprise	12,4 millions de dollars
Google Cloud Platform	Analyse des données et services d'apprentissage automatique	8,7 millions de dollars
Services Web Amazon	Hébergement et ressources informatiques évolutives	15,2 millions de dollars

Réseaux de publicité numérique

Les principaux partenariats publicitaires numériques comprennent:

• Google AD Manager
• Le commerce
• Appnexus
• Xandr

Réseau publicitaire	Part des revenus publicitaires programmatiques
Google AD Manager	47.3%
Le commerce	22.6%
Appnexus	18.9%

Partenaires de distribution de contenu

Partenariats du réseau de syndication et de distribution:

• Apple News
• Bordereau
• Se nourrir
• Smartnews

Investissements stratégiques des médias et technologiques

Partenaire d'investissement	Montant d'investissement	Focus de partenariat
Publications avancées	45 millions de dollars	Développement de la technologie des médias
Insight Partners	67,5 millions de dollars	Échelle des médias numériques

Fournisseurs de cloud computing et d'hébergement

Fournisseur	Dépenses d'hébergement annuelles	Niveau de service
Espace de rack	6,3 millions de dollars	Hébergement dédié à l'entreprise
DigitalOcean	4,1 millions de dollars	Infrastructure cloud évolutive
Linode	3,7 millions de dollars	Services cloud axés sur les développeurs

Ziff Davis, Inc. (ZD) - Modèle d'entreprise: activités clés

Création et publication de contenu médiatique numérique

Ziff Davis exploite plusieurs propriétés médiatiques numériques avec le volume de contenu suivant:

Propriété numérique	Volume de contenu mensuel	Visiteurs uniques
Pcmag.com	450 articles / mois	12,3 millions
Mashable	250 articles / mois	8,7 millions
IGN	500 articles / mois	18,5 millions

Ventes et gestion publicitaires en ligne

Métriques de revenus publicitaires pour 2023:

• Revenus publicitaires numériques totaux: 423,6 millions de dollars
• Ventes publicitaires programmatiques: 68% des revenus totaux
• Taux CPM moyens: 12,50 $

Revue et comparaison des produits technologiques

Performances de la plate-forme d'examen des produits:

Catégorie de révision	Examen total	Trafic mensuel moyen
Électronique grand public	3,200	5,4 millions
Logiciel	1,800	3,2 millions
Matériel de jeu	1,500	4,1 millions

Développement de solutions de marketing numérique

Métriques de la plate-forme de technologie marketing:

• Solutions totales de technologie marketing: 12
• Investissement annuel de R&D: 45,2 millions de dollars
• Base de clientèle d'entreprise: 1 287 clients

Acquisition de la plate-forme logicielle et numérique

Détails d'acquisition récents:

Entreprise acquise	Date d'acquisition	Prix ​​d'achat
Groupe de médias Ziff	2021	85,4 millions de dollars
Logique	2022	22,6 millions de dollars
Offres.com	2023	41,3 millions de dollars

Ziff Davis, Inc. (ZD) - Modèle d'entreprise: Ressources clés

Portfolio de contenu médiatique numérique étendu

Ziff Davis possède plusieurs marques de médias numériques avec une portée d'audience spécifique:

Marque	Visiteurs uniques mensuels	Focus de contenu principal
Pcmag	23,4 millions	Revues technologiques
IGN	37,6 millions	Contenu de jeu vidéo
Mashable	15,2 millions	Culture numérique

Grande réputation de marque dans le journalisme technologique

Métriques de crédibilité de la marque:

• PCMAG Readers 'Choice Awards: 15 années consécutives
• Score de confiance de marque moyenne: 8,7 / 10
• Équipe éditoriale avec plus de 250 journalistes technologiques

Technologie publicitaire numérique propriétaire

Infrastructure publicitaire numérique:

Technologie	Capacité	Impact annuel sur les revenus
Plate-forme publicitaire programmatique	Enchères en temps réel	127,3 millions de dollars
Système de ciblage d'audience	Segmentation démographique	84,6 millions de dollars

Travail éditorial et technique qualifié

Composition de la main-d'œuvre:

• Total des employés: 1 243
• Personnel éditorial: 412
• Personnel technique: 356
• Tenure moyenne des employés: 5,7 ans

Infrastructure de plate-forme numérique robuste

Détails de l'infrastructure technique:

Composant d'infrastructure	Spécification	Coût de maintenance annuel
Hébergement cloud	Redondance multi-régions	18,4 millions de dollars
Réseau de livraison de contenu	99,99% de disponibilité	7,2 millions de dollars

Ziff Davis, Inc. (ZD) - Modèle d'entreprise: propositions de valeur

Informations sur les produits de technologie complète

Ziff Davis fournit des informations de produit technologique détaillées via plusieurs plateformes numériques:

Plate-forme	Visiteurs uniques mensuels	Catégories de contenu
Pcmag.com	12,4 millions	Matériel, avis de logiciels
Ign.com	55,2 millions	Produits de jeu, avis
Mashable	8,6 millions	Tendances technologiques, gadgets

Insignes de l'industrie technologique de haute qualité et faisant autorité

Ziff Davis génère des informations sur l'industrie:

• Rapports d'études de marché annuels de technologie
• Analyse éditoriale experte
• Couverture de la conférence en technologie spécialisée

Solutions publicitaires numériques ciblées

Segment publicitaire	Revenus annuels	Portée du marché
Publicité technologique	187,3 millions de dollars	Public mondial B2B / B2C Tech
Publicité programmatique	92,6 millions de dollars	Ciblage de précision

Revues et recommandations de produits de confiance

Métriques de revue des produits:

• Plus de 15 000 revues de produits complets
• Évaluation de la confiance du lecteur 98,7%
• Profondeur de revue moyenne: 2 500 mots

Contenu médiatique numérique diversifié sur plusieurs plateformes

Plate-forme multimédia	Contenu vertical	Engagement mensuel
IGN	Jeu, divertissement	225 millions de vues mensuelles mondiales
Mashable	Technologie, culture	42 millions de vues mensuelles
Pcmag	Technologie, avis sur les produits	38 millions de vues mensuelles

Ziff Davis, Inc. (ZD) - Modèle d'entreprise: relations avec les clients

Recommandations de contenu numérique personnalisé

Ziff Davis utilise des algorithmes de recommandation avancés sur ses plates-formes numériques:

Plate-forme	Couverture de recommandation	Taux d'engagement des utilisateurs
IGN	82% des recommandations de contenu	Taux de clics de 37,4%
Pcmag	75% des revues de produits	Taux d'interaction de 29,6%

Engagement communautaire à travers des forums et des commentaires

Métriques d'interaction communautaire:

• Total des utilisateurs du forum actif: 1,2 million
• Interactions mensuelles de commentaires: 456 000
• Temps d'engagement moyen des utilisateurs: 12,3 minutes par session

Interaction directe des utilisateurs via les réseaux sociaux

Statistiques d'engagement des médias sociaux:

Plate-forme	Abonnés	Interactions quotidiennes moyennes
Gazouillement	2,7 millions	89,000
Instagram	1,5 million	62,000
Facebook	3,2 millions	104,000

Accès au contenu basé sur l'abonnement

Performance du modèle d'abonnement:

• Total des abonnés numériques: 687 000
• Revenus d'abonnement mensuel moyen: 8,7 millions de dollars
• Taux de rétention de l'abonnement annuel: 64,3%

Plates-formes de support client réactives

Métriques de performance du support client:

Canal de support	Temps de réponse	Taux de résolution
Chat en direct	12 minutes	92%
Assistance par e-mail	24 heures	87%
Support téléphonique	8 minutes	95%

Ziff Davis, Inc. (ZD) - Modèle d'entreprise: canaux

Sites Web

Ziff Davis exploite plusieurs plates-formes numériques à haut trafic:

Site web	Visiteurs uniques mensuels	Classement Alexa mondial
Pcmag.com	15,2 millions	1,247
Mashable.com	8,7 millions	2,456
Ign.com	22,5 millions	879

Applications mobiles

Le portefeuille d'applications mobiles de Ziff Davis comprend:

• Application mobile IGN: 6,3 millions d'utilisateurs mensuels actifs
• Application PCMAG: 2,1 millions de téléchargements
• Application Mashable: 1,8 million de téléchargements

Envoyez des newsletters

Bulletin	Nombre d'abonné	Taux d'ouverture
PCMAG tous les jours	1,2 million	27.5%
Ign Insider	850,000	32.1%

Plateformes de médias sociaux

Plate-forme	Adeptes / abonnés
Twitter (ign)	5,4 millions
Facebook (PCMAG)	3,2 millions
Instagram (mashable)	2,7 millions

Réseaux de publicité numérique

Recherche de publicité programmatique:

• Impressions mensuelles d'annonces: 1,2 milliard
• Taux CPM moyen: 4,75 $
• Revenus publicitaires: 186 millions de dollars en 2023

Ziff Davis, Inc. (ZD) - Modèle d'entreprise: segments de clientèle

Antariens technologiques

En 2024, Ziff Davis cible environ 45 millions de passionnés de technologie active mensuels sur ses plateformes numériques.

Démographique	Mesures clés
Tranche d'âge	25-45 ans
Consommation annuelle de contenu numérique	712 heures par utilisateur
Revenu moyen	98 500 $ par an

Consommateurs de médias numériques

Ziff Davis atteint 78 millions de consommateurs de médias numériques uniques tous les mois à travers son réseau.

• Pcmag.com: 22 millions de visiteurs mensuels
• Ign.com: 35 millions de visiteurs mensuels
• Mashable.com: 21 millions de visiteurs mensuels

Propriétaires de petites et moyennes entreprises

Ziff Davis dessert environ 1,2 million de petits et moyens propriétaires d'entreprises grâce à des solutions de contenu numérique et de publicité ciblées.

Segment d'entreprise	Taux d'engagement
Décideurs technologiques	Engagement de 68%
Demandeurs de transformation numérique	Engagement de 52%

Acheteurs de produits technologiques

Ziff Davis influence chaque année 3,6 millions de décisions d'achat de produits technologiques.

• Influenceurs d'achat de matériel: 1,8 million
• Influenceurs d'achat de logiciels: 1,2 million
• Acheteurs de l'électronique grand public: 600 000

Professionnels de la publicité numérique

Ziff Davis fournit des solutions publicitaires à 85 000 professionnels du marketing numérique.

Segment publicitaire	Revenus annuels
Publicité programmatique	42,3 millions de dollars
Publicité de campagne directe	28,7 millions de dollars

Ziff Davis, Inc. (ZD) - Modèle d'entreprise: Structure des coûts

Création de contenu et dépenses éditoriales

Pour l'exercice 2023, Ziff Davis a rapporté 87,3 millions de dollars de frais de contenu et de rédaction dans ses propriétés médiatiques numériques.

Catégorie de dépenses	Coût annuel
Salaires du personnel éditorial	52,6 millions de dollars
Production de contenu indépendant	18,7 millions de dollars
Licence de contenu	16 millions de dollars

Maintenance et développement de la plate-forme numérique

Ziff Davis a investi 64,2 millions de dollars dans la technologie et l'infrastructure de la plate-forme numérique en 2023.

• Hébergement cloud et coûts de serveur: 22,5 millions de dollars
• Développement de logiciels: 27,3 millions de dollars
• Mises à niveau de la cybersécurité et de la technologie: 14,4 millions de dollars

Dépenses de marketing et de vente

Les frais de marketing et de vente totaux pour 2023 étaient de 143,6 millions de dollars.

Canal de marketing	Dépenses
Publicité numérique	76,9 millions de dollars
Compensation de l'équipe de vente	41,2 millions de dollars
Marketing d'événement	25,5 millions de dollars

Investissements infrastructures technologiques

Ziff Davis a alloué 95,7 millions de dollars à l'infrastructure technologique en 2023.

• Mises à niveau du centre de données: 38,6 millions de dollars
• IA et technologies d'apprentissage automatique: 33,2 millions de dollars
• Infrastructure réseau: 23,9 millions de dollars

Compensation et avantages sociaux des employés

La rémunération totale des employés pour 2023 a atteint 218,4 millions de dollars.

Composant de compensation	Coût annuel
Salaires de base	156,3 millions de dollars
Bonus de performance	37,5 millions de dollars
Soins de santé et avantages sociaux	24,6 millions de dollars

Ziff Davis, Inc. (ZD) - Modèle d'entreprise: Strots de revenus

Revenus publicitaires numériques

Ziff Davis a déclaré des revenus publicitaires numériques de 542,3 millions de dollars en 2023.

Plateforme de publicité	Revenus ($ m)
Publicité PCMAG.com	187.6
IGN Publicité	156.9
Publicité mashable	84.2

Services d'abonnement au contenu

Les revenus d'abonnement ont totalisé 328,7 millions de dollars en 2023.

• Abonnement numérique PCMAG.com: 89,5 millions de dollars
• Adhésion IGN Premium: 124,3 millions de dollars
• Abonnement technologique Extreme: 42,6 millions de dollars
• Autres abonnements numériques: 72,3 millions de dollars

Commissions de marketing d'affiliation

Le marketing d'affiliation a généré 214,6 millions de dollars en 2023.

Canal d'affiliation	Revenus de commission ($ m)
Recommandations de produits	98.7
Liens d'achat de technologie	76.4
Références de produits de jeu	39.5

Licence de revue de produit technologique

Les revenus de licence ont atteint 97,3 millions de dollars en 2023.

• Licence de rapport sur la technologie d'entreprise: 42,6 millions de dollars
• Licence de révision de l'électronique aux consommateurs: 54,7 millions de dollars

Monétisation de la plate-forme numérique

Le chiffre d'affaires total des plateformes numériques était de 276,4 millions de dollars en 2023.

Plate-forme	Revenus ($ m)
Plate-formes d'achat de comparaison	112.8
Commissions du marché numérique	86.5
Plateformes de contenu sponsorisées	77.1

Ziff Davis, Inc. (ZD) - Canvas Business Model: Value Propositions

You're looking at the core value Ziff Davis, Inc. delivers across its portfolio, which is clearly segmented and quantified by late 2025 performance metrics. The company's strategy centers on owning high-authority digital properties and essential infrastructure data tools.

Trusted, vertical-specific content and product reviews (PCMag, CNET)

The content value proposition is supported by the financial performance of the underlying segments. Ziff Davis, Inc. reported total revenues of $363.7 million for the third quarter of 2025, marking its fifth consecutive quarter of revenue growth, up nearly 3% year-over-year from $353.6 million in Q3 2024. The CEO specifically highlighted strong performance from CNET in Q3 2025. The company is exploring transactions because management believes every division should command a multiple higher than the current Ziff Davis, Inc. multiple.

The breadth of this content ecosystem is vast, touching on high-growth sectors:

• Health and Wellness segment revenue grew 13% year-over-year in Q3 2025.
• Three out of Ziff Davis, Inc.'s five reportable segments grew revenue in Q3 2025.
• The company has deployed over $3 billion of capital on Mergers and Acquisitions (M&A) to build this portfolio.

High-accuracy internet performance data (Ookla Speedtest)

Ookla, a Ziff Davis, Inc. company, provides the definitive measure of connectivity, underpinning its value proposition with massive, real-time data sets. This data is used by operators, governments, and regulators to drive network advancements.

Metric	Data Point	Context/Timeframe
Consumer-initiated Tests Taken	55B+	To date (as of late 2025)
Global Testing Servers	15K+	To date (as of late 2025)
App Installs	600MM+	To date (as of late 2025)
Data Availability	200+	Countries
States Meeting 100/20 Mbps FCC Standard	38 (plus D.C.)	1H 2025 (up from 22 in 2H 2024)
US Top Mobile Connectivity Score	79.95	Q1-Q2 2025 (T-Mobile)

The data's impact is measurable in regulatory and consumer contexts. For instance, the number of U.S. states where 60% or more of Speedtest users achieved the FCC's minimum fixed broadband standard jumped from 22 in the second half of 2024 to 38 in the first half of 2025. This shows the direct utility of the data for monitoring broadband progress.

Targeted performance marketing for advertisers

The value here is the ability to connect advertisers with highly engaged, vertical-specific audiences, evidenced by the overall financial health and segment performance. The company's strong cash generation supports ongoing capital allocation strategies, including share repurchases.

Key financial indicators supporting the platform's value:

• Q3 2025 Adjusted diluted EPS was $1.76, an increase of over 7% year-over-year.
• Free Cash Flow for Q3 2025 was $108.2 million, a 35% increase from the prior year period.
• Trailing 12 months Free Cash Flow as of the end of Q3 2025 was $261.2 million.
• The operating margin improved to 7.8% in Q3 2025, compared to -8.3% in Q3 2024.

The company reaffirmed its fiscal year 2025 guidance for total revenues at $1.47 billion at the midpoint.

Essential B2B tools for IT and Wi-Fi professionals (Ekahau)

Ekahau, part of the Ookla family of brands, delivers enterprise solutions for network planning and optimization. While specific Ekahau revenue isn't broken out, its value is tied to the broader B2B connectivity intelligence space, which is seeing market acceleration. The worldwide Enterprise Networking market saw 12% revenue growth in Q2 2025, fueled by enterprise projects and Wi-Fi 7 upgrades, suggesting a strong environment for Ekahau's professional tools.

Ekahau's value proposition is rooted in providing actionable insights for network lifecycle management, including Wi-Fi Planning & Optimization and Network Testing.

Diversified exposure across high-growth sectors: Health, Tech, Gaming

Ziff Davis, Inc. mitigates risk through diversification, though some areas face headwinds. The company's portfolio spans multiple verticals, which helps stabilize overall performance.

Segment	Q3 2025 Revenue YoY Change	Q3 2025 Adjusted EBITDA YoY Change
Health and Wellness	+13%	+18%
Cybersecurity and Martech	Return to Growth	Not specified
Tech and Shopping	-2%	Not specified

The decline in the Tech and Shopping segment was specifically attributed to the wind down of game publishing activities. Finance: draft 13-week cash view by Friday.

Ziff Davis, Inc. (ZD) - Canvas Business Model: Customer Relationships

You're looking at how Ziff Davis, Inc. manages its diverse user base, which spans from individual consumers reading gaming news to large B2B tech decision-makers. The relationship strategy is clearly segmented to match the value proposition for each group.

Automated self-service for digital subscriptions is the expected path for many of Ziff Davis, Inc.'s digital media consumers, especially the younger demographic that prefers digital interaction. While specific digital subscription counts aren't public, the revenue stream shows movement: Subscription and licensing revenue reached $149 million in the second quarter of 2025, marking a 5.0% increase year-over-year for that period. This suggests that the automated digital offering is finding traction, though the first quarter of 2025 saw a slight dip to $146 million (a 2.0% decline YoY). Honestly, keeping these digitally-savvy subscribers engaged requires constant value delivery, as nearly half (47%) of consumers believe subscriptions give them access to a certain lifestyle.

For the B2B side, which includes segments like Cybersecurity & Martech and the Spiceworks community, Ziff Davis, Inc. deploys dedicated sales teams for large B2B enterprise contracts. This high-touch approach is necessary for complex, high-value offerings. The Cybersecurity & Martech segment, for example, generated $67.3 million in revenue in the first quarter of 2025, even while facing a challenging 10.8% revenue decline that quarter, indicating the sales cycle for these contracts is significant and requires direct management. The need for specialized sales talent is underscored by the fact that 57% of senior tech leaders found hiring skilled IT talent challenging in 2025.

Community engagement and user-generated content (IGN, Spiceworks) form the backbone of trust for many Ziff Davis, Inc. properties. Spiceworks, for instance, leverages its community to power marketing solutions, boasting an 18MM Global Audience as of early 2023 and over 80MM+ Verified Tech Contacts across its platform. This user-generated content ecosystem is critical, as Gen Z and millennials, who are major consumers of digital media, prefer this content over traditional media. The annual 2025 State of IT Report, a product of this community engagement, provides data points like 43% of businesses planning to increase IT staff in 2025.

The direct-to-consumer relationships for digital media brands are primarily monetized through advertising on owned and operated (O&O) properties. Management noted that 35% of the company's total revenues come from ads on its O&O web traffic. Furthermore, about 40% of that O&O advertising revenue is derived specifically from search placements. This direct relationship gives Ziff Davis, Inc. control over inventory and audience data, differentiating it from purely programmatic competitors. The Health & Wellness vertical, a key D2C-facing segment, generated $82.5 million in advertising revenue in the second quarter of 2025.

Finally, high-touch, consultative relationships for major advertising partners are essential for securing the largest ad spend. Advertising and performance marketing revenue was a massive $197 million in the second quarter of 2025, representing a 15.5% year-over-year surge. This level of spend requires dedicated account management and consultative selling, especially in high-growth areas like Health & Wellness, which saw its advertising revenue grow 15.7% in Q2 2025. The company's overall fiscal 2025 revenue guidance projects growth between $1.442 billion and $1.502 billion, showing the importance of these large partner relationships to the top line.

Here's a quick look at the key customer-facing financial metrics from the first half of 2025:

Metric Category	Specific Data Point	Value / Amount	Period / Context
Advertising Revenue	Total Advertising & Performance Marketing Revenue	$197 million	Q2 2025
Advertising Revenue	Health & Wellness Advertising Revenue	$82.5 million	Q2 2025
Advertising Revenue	Technology & Shopping Advertising Revenue	$78.8 million	Q2 2025
Subscription Revenue	Subscription & Licensing Revenue	$149 million	Q2 2025
Subscription Revenue	Subscription & Licensing Revenue	$146 million	Q1 2025
B2B Segment Revenue	Cybersecurity & Martech Revenue	$67.3 million	Q1 2025
Monetization Mix	Percentage of Total Revenue from O&O Web Traffic Ads	35%	As stated by Management
Monetization Mix	Percentage of O&O Ad Revenue from Search	40%	As stated by Management

The reliance on community data for B2B relationships is substantial, with Spiceworks reporting over 80MM+ Verified Tech Contacts. Also, remember that 73% of consumers report they will switch to a competitor after multiple bad experiences, so maintaining this high-touch/self-service balance is defintely critical for retention across all segments.

Finance: draft 13-week cash view by Friday.

Ziff Davis, Inc. (ZD) - Canvas Business Model: Channels

You're looking at how Ziff Davis, Inc. gets its products and services in front of customers as of late 2025. It's a mix of owned digital real estate, direct sales efforts for its B2B offerings, and media acquisitions designed to capture audience attention directly.

Owned and Operated (O&O) websites and apps

Ziff Davis, Inc. relies heavily on its portfolio of established digital properties, which include brands like CNET, Mashable, Lifehacker, and PC Mag, to drive traffic and monetize through advertising. For the third quarter of 2025, total revenues reached $363.7 million. The Advertising and Performance Marketing revenue stream saw a 5.9% year-over-year growth in Q3 2025.

Metric Category	Data Point	Value/Percentage
Total Revenue (Q3 2025)	Reported Quarterly Revenue	$363.7 million
O&O Web Traffic Monetization (Q2 2025)	Share of Total Revenue from O&O Ads	35%
O&O Web Traffic Monetization (Q2 2025)	Share of O&O Ad Revenue from Search	40%
Programmatic Advertising (Annualized Estimate)	Revenue Contribution	Less than $50 million
Advertising Segment Growth (Q3 2025)	Year-over-Year Growth	5.9%

Direct sales force for B2B software and large ad deals

For the Cybersecurity & Martech segment, which returned to revenue growth in Q3 2025, a direct sales approach is key for securing larger B2B contracts and enterprise-level advertising partnerships. While Ziff Davis, Inc.'s specific B2B sales force metrics aren't public, general industry benchmarks for private B2B SaaS in 2025 suggest an Average Deal Size reached $26,265. The Health & Wellness segment's advertising revenue, which benefits from brand partnerships, represented 42% of the total advertising business in Q2 2025.

Search engine optimization (SEO) for O&O traffic

SEO is a critical channel, as search traffic accounts for a significant portion of the revenue generated by the Owned and Operated sites. Specifically, about 40% of the 35% of total revenue derived from O&O web traffic ads comes directly from search. This focus on organic discovery helps Ziff Davis, Inc. maintain a more stable revenue base compared to reliance on purely programmatic channels.

Email newsletters and direct-to-inbox media (theSkimm)

The acquisition of theSkimm in March 2025 brought a strong direct-to-inbox channel into the portfolio, primarily housed within the Health & Wellness division. This channel focuses on direct audience engagement and premium subscription potential.

• Newsletter Subscribers: 5 million across six newsletters.
• Total Audience Across Platforms: Over 16 million.
• Highly Engaged Users (Super Users): 1 million activating regularly.
• Prior Subscriber Base: TheSkimm previously reported 7 million subscribers.

App stores for Ookla and other utility software

Utility software, such as that provided by Ookla, uses app stores as a primary distribution point. While specific revenue figures for app store downloads are not itemized in the latest reports, the Connectivity segment, which includes Ookla, is a key part of the overall business structure. The company's Subscription and Licensing revenue grew 2% year-over-year in Q3 2025. The performance of utility software often feeds into this subscription or licensing bucket.

Ziff Davis, Inc. (ZD) - Canvas Business Model: Customer Segments

You're looking at the different groups of people and businesses that Ziff Davis, Inc. (ZD) serves, which is key to understanding where their money comes from. The company clearly splits its focus between consumers and business clients, with advertising being a major common thread.

For the second quarter of 2025, Ziff Davis reported total revenues of $352.2 million, with advertising and performance marketing making up $197 million of that total. This shows that attracting eyeballs and clicks from consumers across their media properties is central to the business.

Here's a look at how the revenue broke down by the segments that serve these customer groups in Q2 2025:

Customer-Relevant Segment	Q2 2025 Revenue (in millions)	Year-over-Year Growth (Q2 2025)
Health & Wellness	$99.5	15.7%
Technology & Shopping	$80.8	11.3%
Connectivity	$57.4	14.2%
Gaming & Entertainment	$46.2	7.5%
Cybersecurity & Martech	$68.3	-0.9%

Consumers seeking product reviews and news are primarily served by the Health & Wellness, Technology & Shopping, and Gaming & Entertainment segments. The Health & Wellness segment was the largest contributor to revenue in Q2 2025 at $99.5 million. The Technology & Shopping segment, which includes CNET and RetailMeNot, brought in $80.8 million in Q2 2025.

B2B Enterprise clients, particularly those using software and data solutions from Ookla and Ekahau, fall under the Connectivity segment. This segment showed strong growth, with revenue reaching $57.4 million in Q2 2025, up 14.2% year-over-year.

Advertisers and performance marketers are a cross-segment customer base, but their spend is captured in the Advertising and Performance Marketing revenue line, which grew 15.5% to $197 million in Q2 2025. Pharma advertising was a key driver for the Health & Wellness segment's 15.7% growth.

IT professionals and small-to-midsize businesses are a core audience for the Cybersecurity & Martech segment, which generated $68.3 million in Q2 2025 revenue.

Digital media subscribers are a key part of the Subscription and Licensing revenue stream, which was $149 million in Q2 2025.

• Humble Bundle subscribers pay $14.99 monthly for Humble Choice in December 2025, with 5% of that membership fee going to charity.
• Ookla's data collection relies on over 11 million consumer-initiated tests conducted daily on Speedtest.
• In January 2025, Ookla data showed the median fixed internet download speed in the USA was 262.59 Mbps.
• For the nine months ended September 30, 2025, Ziff Davis reported total revenues of $1,044.6 million (calculated from Q3 revenue of $363.7M and $680.9M for the first six months).

If you're assessing the B2B side, remember that the Connectivity segment maintained a robust adjusted EBITDA margin of 47.3% in Q2 2025.

Ziff Davis, Inc. (ZD) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Ziff Davis, Inc.'s expenses as of the middle of 2025. It's all about the outlay required to keep the content engine running and the debt serviced. Here's the quick math on the major cost buckets based on the second quarter of 2025 results.

The primary operational costs for Ziff Davis, Inc. in the second quarter ended June 30, 2025, are detailed below, showing where the money went to generate the $352.2 million in total revenues for that period. The largest single expense category in the operating costs was Sales and Marketing.

Cost Component (Q2 2025, in thousands)	Amount
Sales and marketing	$141,598
Depreciation and amortization	$57,606
General, administrative, and other related costs	$54,070
Direct costs	$48,974
Research, development, and engineering	$16,478
Acquisition, integration, and other costs	$3,987

Content creation and editorial staff salaries are embedded within the $48,974 thousand in Direct costs and the $16,478 thousand in Research, development, and engineering for Q2 2025. Honestly, separating pure editorial salaries from the broader Direct Costs category isn't possible with the public filings.

Technology infrastructure and hosting costs are represented by several line items that cover both the physical and intellectual capital investment. These figures reflect the ongoing spend to support digital properties.

• Depreciation and amortization for Q2 2025 was $57,606 thousand.
• Research, development, and engineering expenses for Q2 2025 totaled $16,478 thousand.
• Total operating costs and expenses for Q2 2025 reached $318,726 thousand.

Sales and marketing expenses to drive traffic were substantial, hitting $141,598 thousand for the three months ended June 30, 2025. This was up from $124,766 thousand in the same period last year.

Acquisition-related costs and integration expenses show up in a specific line item, plus the actual cash deployment for M&A activity. You need to look at both the non-recurring costs and the capital outlay.

• Acquisition, integration, and other costs recognized in the income statement for Q2 2025 were $3,987 thousand.
• Cash deployed for current and prior year acquisitions during Q2 2025 was approximately $11.4 million.

Interest expense on gross debt is a key non-operating cost. Ziff Davis, Inc. reported a specific figure for this liability service in Q2 2025, which is tied to the overall leverage structure.

Financial Metric (As of Q2 2025)	Amount
Gross Debt	$872 million
Interest expense, net (Q2 2025)	$6,523 thousand
Gross Debt to TTM Adj. EBITDA Multiple	1.7x

The interest expense, net for the quarter was $6,523 thousand, compared to $1,804 thousand in Q2 2024. Finance: draft 13-week cash view by Friday.

Ziff Davis, Inc. (ZD) - Canvas Business Model: Revenue Streams

You're looking at the core ways Ziff Davis, Inc. (ZD) brings in cash as of late 2025. The business model relies heavily on a mix of advertising, recurring subscriptions, and transaction-based revenue across its diverse digital properties.

The company's overall financial health in mid-2025 showed strong momentum, with management reaffirming the full-year outlook based on solid quarterly results.

Here are the hard numbers we have for the primary revenue streams based on the Second Quarter 2025 results:

Revenue Stream Component	Q2 2025 Amount (Millions USD)	Year-over-Year Growth (Q2 2025)
Advertising and Performance Marketing revenue	$197 million	15.5%
Subscription and Licensing revenue	$149 million	5.0%
Total Q2 2025 Revenue	$352.2 million	9.8%

The full-year 2025 revenue guidance that Ziff Davis, Inc. reaffirmed projects total revenues between $1.442 billion and $1.502 billion.

For the specific components you asked about, the data is often nested within the broader segment reporting, but we can pull out related metrics:

• Affiliate and e-commerce revenue (RetailMeNot): While the specific dollar amount for RetailMeNot is not explicitly broken out in the top-line revenue figures, the company noted the deployment of AI chat at RetailMeNot as part of its strategic execution in Q2 2025.
• B2B software licensing fees (Ekahau, Spiceworks): These fees likely contribute to the Subscription and Licensing revenue line. A concrete metric related to the B2B software side is the Spiceworks paid subscription launch, which secured over 20,000+ paying business customers by the Q2 2025 earnings release.

To give you a better picture of where the revenue is coming from across the five reportable segments in Q2 2025, here's a look at the segment revenue:

Reportable Segment	Q2 2025 Revenue (Millions USD)	Q2 2025 Revenue Growth Y/Y
Health & Wellness	$99.5 million	15.7%
Technology & Shopping	$80.8 million	11.3%
Cybersecurity & Martech	$68.3 million	-0.9%
Connectivity	$57.4 million	14.2%
Gaming & Entertainment	$46.2 million	7.5%

Also, remember that 35% of Ziff Davis, Inc.'s total revenues are ads on its owned and operated web traffic, and about 40% of that specific portion comes from search.