Meredith (NYSE: MDP) reported that net profit grew 11.5 percent for the quarter ending March 31st to a total of $45.3 million. Total revenues increased by 4 percent to $410 million, including a 7 percent growth in advertising revenues. The company experienced “outstanding growth in online revenues across the company”, and Meredith plans to continue expanding into multiple media platforms. Advertising on Meredith’s magazine-branded websites saw advertising revenue grow by more than 50 percent, with unique visitors and page views also both up more than 10 percent. Meredith secured more than 2 million online subscriptions through the first nine months of fiscal 2007, already surpassing total orders for all of fiscal 2006. In the quarter Meredith also launched its first broadband network, Better.tv, which features more than 20 channels of original video content and programming on subjects such as cooking, decorating and health.

SEE ALSO: Earnings: Meredith Net Profit Up 20 Percent; Online Plays Greater Role

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