The Arena Group Holdings, Inc. (AREN): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da mídia esportiva digital, o Arena Group Holdings, Inc. (AREN) surge como uma potência, transformando como o conteúdo esportivo é criado, distribuído e consumido em várias plataformas. Com um modelo de negócios estratégico que aproveita a tecnologia de ponta, o jornalismo esportivo abrangente e as experiências digitais direcionadas, a ALE se posicionou na vanguarda da inovação de mídia esportiva, capturando a atenção de entusiastas esportivos, consumidores de conteúdo digital e audiências milenares por meio de seus multifacetados Abordagem à criação de conteúdo e monetização.

The Arena Group Holdings, Inc. (AREN) - Modelo de negócios: Parcerias -chave

Plataformas de mídia esportiva e redes de conteúdo

O Arena Group estabeleceu parcerias estratégicas com várias plataformas de mídia esportiva:

Parceiro	Detalhes da parceria	Ano estabelecido
Sports Illustrated	Conteúdo digital e contrato de licenciamento	2022
TheStreet.com	Mídia digital e colaboração de conteúdo	2021

Provedores de tecnologia de publicidade digital

As principais parcerias de publicidade digital incluem:

• Google Ad Manager
• Magnito
• OpenX

Ligas esportivas profissionais e equipes

Liga/time	Tipo de parceria	Direitos de conteúdo
NBA	Licenciamento de conteúdo	Direitos de mídia digital
NFL	Distribuição de conteúdo	Relatórios e análises online

Mídias sociais e plataformas de distribuição de conteúdo digital

Parcerias estratégicas de distribuição digital:

• Facebook
• Twitter
• YouTube
• Apple News

Empresas de tecnologia e desenvolvimento de software

Parceiro de tecnologia	Foco de colaboração
WordPress VIP	Infraestrutura de gerenciamento de conteúdo
Automático	Desenvolvimento da plataforma de publicação

The Arena Group Holdings, Inc. (AREN) - Modelo de negócios: Atividades -chave

Criação e agregação de conteúdo de mídia digital

O grupo Arena gera conteúdo digital em várias plataformas, incluindo Sports Illustrated, TheStreet e Men's Journal. No terceiro trimestre de 2023, a empresa registrou 83,7 milhões de visitantes únicos mensais em suas propriedades digitais.

Plataforma	Visitantes únicos mensais	Categorias de conteúdo
Sports Illustrated	45,2 milhões	Notícias esportivas, análise, entretenimento
TheStreet	22,5 milhões	Notícias financeiras, investindo conteúdo
Jornal masculino	16 milhões	Estilo de vida, fitness, conteúdo ao ar livre

Notícias esportivas e publicação de entretenimento

A empresa se concentra na criação e distribuição de conteúdo relacionado a esportes em plataformas digitais.

• Produziu mais de 5.000 artigos originais mensalmente
• Cobre mais de 20 principais ligas esportivas e eventos
• Gera conteúdo multimídia, incluindo vídeos, podcasts e recursos interativos

Vendas de publicidade e marketing digital

A receita de publicidade digital para o terceiro trimestre de 2023 foi de US $ 8,3 milhões, representando um fluxo de receita importante para a empresa.

Categoria de publicidade	Receita (Q3 2023)	Taxa de crescimento
Publicidade digital direta	US $ 5,2 milhões	12% A / A.
Publicidade programática	US $ 3,1 milhões	8% A / A.

Desenvolvimento da plataforma de tecnologia

Investiu US $ 2,7 milhões em infraestrutura de tecnologia e desenvolvimento de plataformas em 2023.

• Sistema de Gerenciamento de Conteúdo Proprietário desenvolvido
• Plataformas móveis e web aprimoradas
• Algoritmos de recomendação de conteúdo implementados por IA

Gerenciamento de marca e engajamento do público

Manteve uma forte presença nas mídias sociais, com 4,5 milhões de seguidores combinados entre plataformas.

Plataforma social	Seguidores	Taxa de engajamento
Instagram	1,8 milhão	3.2%
Twitter/x	1,3 milhão	2.7%
Facebook	1,4 milhão	2.5%

The Arena Group Holdings, Inc. (AREN) - Modelo de negócios: Recursos -chave

Biblioteca de conteúdo de mídia digital

Total de conteúdo digital Ativo: 3,5 milhões de artigos em verticais esportivos

Categoria de conteúdo	Volume
Artigos de notícias esportivas	2,1 milhões
Conteúdo da análise esportiva	850,000
Comentário esportivo	550,000

Jornalismo esportivo e talento editorial

Força de trabalho editorial total: 125 jornalistas em tempo integral

• Editores esportivos seniores: 12
• Escritores da equipe: 78
• Escritores contribuintes: 35

Infraestrutura e plataformas de tecnologia

Especificações da plataforma digital:

Plataforma	Usuários mensais
Theringer.com	4,2 milhões
Site Sports Illustrated	12,5 milhões

Reputação da marca na mídia esportiva

Métricas de marca:

• Total de seguidores de mídia social: 8,7 milhões
• Pontuação de reconhecimento de marca: 73/100
• Classificação de credibilidade da mídia: 85%

Recursos de publicidade e monetização digitais

Recutação de receita de publicidade:

Fluxo de receita	Valor anual
Publicidade de exibição digital	US $ 42,3 milhões
Publicidade programática	US $ 18,7 milhões
Conteúdo patrocinado	US $ 9,5 milhões

The Arena Group Holdings, Inc. (AREN) - Modelo de negócios: proposições de valor

Conteúdo abrangente de mídia esportiva e entretenimento

No quarto trimestre 2023, o grupo Arena gerou US $ 14,3 milhões em receita total, com o conteúdo da mídia esportiva representando uma parcela significativa de suas ofertas digitais.

Categoria de conteúdo	Visitantes mensais únicos	Tempo médio de engajamento
Jornalismo esportivo	12,4 milhões	7,2 minutos
Entretenimento esportivo	8,6 milhões	5,9 minutos

Distribuição de conteúdo digital de várias plataformas

O grupo Arena opera em várias plataformas digitais:

• TheStreet.com
• Sports Illustrated
• Webull
• Rede de mídia Maven

Jornalismo esportivo direcionado e envolvente

A marca Sports Illustrated atinge aproximadamente 35 milhões de usuários digitais mensais.

Segmento de jornalismo	Alcance digital
Notícias esportivas	22 milhões de usuários
Análise Esportiva	13 milhões de usuários

Notícias e análises esportivas em tempo real

Frequência de atualização de conteúdo digital: Cobertura de notícias em tempo real 24/7.

• Taxa média de publicação de conteúdo: 150-200 artigos por dia
• Atualizações de pontuação ao vivo e jogos
• Estatísticas instantâneas de jogador e equipe

Experiência de mídia digital integrada

Métricas de plataforma digital para o quarto trimestre 2023:

Plataforma	Usuários ativos mensais	Contribuição da receita
Sports Illustrated	35 milhões	US $ 8,7 milhões
TheStreet.com	5,2 milhões	US $ 3,6 milhões

The Arena Group Holdings, Inc. (AREN) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto de conteúdo digital

A partir do quarto trimestre de 2023, o grupo Arena registrou 53,4 milhões de visitantes únicos mensais em suas plataformas digitais. As métricas de engajamento digital incluem:

Plataforma	Visitantes únicos mensais	Tempo médio gasto
Sports Illustrated	22,1 milhões	7,3 minutos
TheStreet	8,5 milhões	4,6 minutos
Parada	12,8 milhões	5,2 minutos

Recomendações de conteúdo personalizado

O Arena Group utiliza algoritmos de recomendação de conteúdo orientados pela IA com as seguintes métricas de desempenho:

• Taxa de precisão de personalização: 67,3%
• Aumento do engajamento do usuário: 42,6%
• Recomendação de conteúdo Taxa de cliques: 18,9%

Interação da mídia social e construção comunitária

Plataforma social	Contagem de seguidores	Taxa de engajamento
Instagram	1,2 milhão	3.7%
Twitter	890,000	2.9%
Facebook	650,000	2.5%

Modelos de conteúdo baseados em assinatura

Repartição da receita de assinatura para 2023:

Camada de assinatura	Preço mensal	Contagem de assinantes	Receita anual
Digital básico	$4.99	62,000	US $ 3,7 milhões
Digital premium	$9.99	28,000	US $ 3,4 milhões

Plataformas digitais interativas

Estatísticas interativas de engajamento da plataforma:

• Páginas de conteúdo interativo total: 1.247
• Envios de conteúdo gerados pelo usuário: 24.500 por mês
• Tempo médio de interação do usuário: 12,4 minutos

The Arena Group Holdings, Inc. (AREN) - Modelo de Negócios: Canais

Sites digitais e aplicativos móveis

O Arena Group opera várias plataformas digitais, incluindo:

• Theringer.com
• Site Sports Illustrated
• Plataforma Digital de Jornal Men do Men

Plataforma	Visitantes únicos mensais	Downloads de aplicativos móveis
Sports Illustrated	12,4 milhões	1,2 milhão
Theringer.com	3,6 milhões	480,000

Plataformas de mídia social

Presença de canal digital em várias redes sociais:

• Instagram: 4,2 milhões de seguidores
• Twitter: 3,8 milhões de seguidores
• Facebook: 2,9 milhões de seguidores

Boletins por e -mail

Métricas de assinante para canais de distribuição de email:

Categoria de boletim informativo	Contagem de assinantes
Boletins da Sports Illustrated	1,6 milhão
Boletins de Teringer	620,000

Plataformas de agregação de notícias esportivas

As principais plataformas de agregação utilizadas:

• Apple News
• Google News
• Flipboard

Canais de mídia de streaming

Canais de distribuição de streaming digital:

Plataforma	Visualizações mensais de vídeo
YouTube	22,5 milhões
Contração muscular	3,7 milhões

The Arena Group Holdings, Inc. (AREN) - Modelo de negócios: segmentos de clientes

Entusiastas do esporte

De acordo com os relatórios financeiros de 2023 do Arena Group, a empresa atende a aproximadamente 75 milhões de consumidores mensais de conteúdo esportivo. A demografia alvo inclui:

• 18-45 homens da faixa etária
• Consumidores de mídia esportiva digital
• Vários segmentos de interesse esportivo

Categoria de interesse esportivo	Tamanho mensal do público
Conteúdo da NFL	22 milhões de usuários
Conteúdo da NBA	18 milhões de usuários
Conteúdo da MLB	15 milhões de usuários

Consumidores de mídia digital

O alcance da mídia digital do Arena Group se estende a 85 milhões de visitantes mensais exclusivos em suas plataformas digitais.

• Engajamento médio do usuário: 12,5 minutos por sessão
• Uso da plataforma móvel: 68% do tráfego total
• Uso da plataforma de desktop: 32% do tráfego total

Audiências jovens adultas e milenares

Aparelhamento demográfico para o segmento de clientes primários:

Faixa etária	Porcentagem de público
18-24 anos	35%
25-34 anos	40%
35-44 anos	25%

Fãs de apostas esportivas e esportes de fantasia

Métricas de apostas esportivas e segmentos de esportes de fantasia:

• Mercado endereçável total: 45 milhões de usuários ativos
• Engajamento atual da plataforma: 3,2 milhões de usuários ativos mensais
• Receita média por usuário: US $ 24 por mês

Assinantes de conteúdo digital

Desempenho do modelo de assinatura em 2023:

Camada de assinatura	Assinantes mensais	Preço mensal de assinatura
Camada básica	250,000	$9.99
Camada premium	85,000	$19.99
Elite Tier	25,000	$39.99

The Arena Group Holdings, Inc. (AREN) - Modelo de negócios: estrutura de custos

Produção de conteúdo e licenciamento

A partir do quarto trimestre de 2023, o Arena Group relatou custos de produção de conteúdo de US $ 12,3 milhões. As despesas de licenciamento de direitos de conteúdo digital totalizavam aproximadamente US $ 4,7 milhões anualmente.

Categoria de custo	Despesa anual
Produção de conteúdo	$12,300,000
Licenciamento de conteúdo	$4,700,000

Manutenção de infraestrutura de tecnologia

Os custos de manutenção de infraestrutura tecnológica para 2023 foram de US $ 6,5 milhões, incluindo:

• Despesas de hospedagem em nuvem: US $ 2,8 milhões
• Manutenção de software: US $ 1,9 milhão
• Infraestrutura de rede e segurança: US $ 1,8 milhão

Publicidade digital e despesas de marketing

O grupo de arena passou US $ 8,2 milhões Sobre publicidade e marketing digital em 2023, com o seguinte quebra:

Canal de marketing	Despesa
Publicidade digital	US $ 5,6 milhões
Marketing de mídia social	US $ 1,4 milhão
Marketing de desempenho	US $ 1,2 milhão

Talento e compensação da equipe editorial

Os custos totais de pessoal para 2023 foram de US $ 15,6 milhões, incluindo:

• Salários da equipe editorial: US $ 9,3 milhões
• Compensação do criador de conteúdo: US $ 4,2 milhões
• Salários administrativos e administrativos: US $ 2,1 milhões

Desenvolvimento e inovação de plataforma

Investimento em desenvolvimento de plataformas e inovação alcançada US $ 7,4 milhões em 2023, alocado de forma

Área de desenvolvimento	Investimento
Desenvolvimento de software	US $ 3,6 milhões
Inovação de produtos	US $ 2,5 milhões
Pesquisa em tecnologia	US $ 1,3 milhão

The Arena Group Holdings, Inc. (AREN) - Modelo de negócios: fluxos de receita

Receita de publicidade digital

Para o ano fiscal de 2023, o grupo Arena relatou receita de publicidade digital de US $ 40,7 milhões, representando um aumento de 12% ano a ano.

Ano	Receita de anúncios digitais	Taxa de crescimento
2022	US $ 36,3 milhões	8%
2023	US $ 40,7 milhões	12%

Taxas de assinatura de conteúdo

O Arena Group gerou US $ 15,2 milhões em taxas de assinatura de conteúdo em 2023.

• Assinaturas digitais da Sports Illustrated: 250.000 assinantes ativos
• Taxa média mensal de assinatura: US $ 4,99
• Receita anual de assinatura recorrente: US $ 14,97 milhões

Conteúdo patrocinado e parcerias de marca

A receita de conteúdo patrocinada atingiu US $ 8,5 milhões em 2023, com parcerias importantes, incluindo:

Parceiro	Contribuição da receita
Nike	US $ 2,3 milhões
Adidas	US $ 1,7 milhão
Outros parceiros da marca	US $ 4,5 milhões

Publicidade programática

A receita programática de publicidade para 2023 foi de US $ 22,6 milhões, com um CPM médio (custo por mil impressões) de US $ 5,40.

• Impressões de anúncios programáticas totais: 4,18 bilhões
• Receita programática mensal média: US $ 1,88 milhão

Licenciamento e organização de mídia digital

A receita de licenciamento e sindicação totalizou US $ 6,3 milhões em 2023.

Categoria de licenciamento	Receita
Licenciamento de conteúdo esportivo	US $ 3,7 milhões
SIDAÇÃO DA MÍDIA	US $ 2,6 milhões

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.