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Meredith Presentation for F4M Conference, May 13th 2019

2019 © Meredith Corporation

MAY 2018 BHG.COM

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Agenda

1. Meredith Corporation Overview

2. Meredith International Presence

3. PeopleTV


1. Meredith Corporation Overview


Founded in 1902 in Des Moines, Iowa, Meredith has been committed to service journalism for 117 years

• 1902: Launched Successful Farming

• 1922: Launched Fruit, Garden and Home, later renamed Better Homes & Gardens

• 1948: Meredith entered the television broadcasting business

• Since then, Meredith added numerous well-known brands into its portfolio including SHAPE, Martha Stewart Living, Parents and a series of special interest publications

• 2018: Meredith acquired Time Inc. and added new brands such as InStyle, People, Real Simple, Travel + Leisure and Food & Wine

A Brief History of Meredith


MAY 20 19 BHG.COM

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The #1 Owner of Premium Media Brands

National Media Group

Fiscal 2019 Q2 Revenue: $591MM

EBITDA: $131MM

Local Media Group

Fiscal 2019 Q2 Revenue: $262MM

EBITDA: $116MM


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175+ million consumers cross-platform

ENTERTAINMENT & FASHION | FOOD | PARENTING | HOME | LUXURY & TRAVEL | HEALTH & WELLNESS

A Leader in Reaching a Real and Highly Engaged Audience

70%REACH TO

MILLENNIAL

WOMEN

140MILLION

MONTHLY

UV’S

175MILLION

UNDUPLICATED

CONSUMERS

Reaches 1 in 2 Women in the U.S.

World’s Second-Largest Brand Licensor

Meredith’s trusted brands and scaled reach of US consumers allow for its robust brand licensing programs including more than 3,000 SKUs of Better Homes & Gardens branded products at 4,000 Walmart stores across the US and at Walmart.com and Jet.com.

Meredith signed a 50-year license with Realogy to use the Better Homes & Gardens brand for its real estate franchise which includes hundreds of Better Homes & Gardens Real Estate (BHGRE) offices and thousands of affiliated real estate agents in the US. Realogy recently launched BHGRE in Australia.


22%

30%18%

10%

5%

15%22%

30%18%

10%

5%

15%22%

30%18%

10%

5%

15%22%

30%18%

10%

5%

15%

Total company revenue for fiscal year 2018 was $2,247MM. Adjusted EBITDA is $421MM

• Meredith’s acquisition of Time Inc. closed on January 31, 2018

Expected company revenue for fiscal year 2019 is $3B to $3.2B

Key Drivers:

•Digital Growth: Rapidly growing digital, mobile, video and social platforms. •Expanding Portfolio: Meredith launched The Magnolia Journal, a quarterly lifestyle magazine, which quickly became the strongest selling newsstand title in Meredith’s recent history, selling 900,000+ copies of each issue.•Licensing: Renewal of licensing program with Walmart and launching of new brand licensing programs, like Eating Well line of frozen entrees & a Shape line of apparel for women generated revenue growth.

Company Revenue Overview

Consumer Revenue: 30%Digital Revenue: 15%Print Ad Revenue: 22%

Local Media Group Revenue: 28%National Media Group Revenue: 67%


2. Meredith International Presence

Print Digital

TV

Education

Event Merchandise

Dining

Exhibition

Meredith International Presence: 14 Brands Across Eight Platforms in 70 Countries


Better Homes & Gardens print magazine launched in 1978 in Australia and reaches an audience of nearly 4 million

Better Homes & Gardens TV launched in 1995 and is the highest rated television program and Australia’s longest running lifestyle show

The program aired its 1,000th episode in June 2018

In 2018, Realogy brought the Better Homes & Gardens Real Estate franchise to Australia in close partnership with Better Homes & Gardens multiplatform media partner

Example: Better Homes & Gardens AustraliaThe Most Successful Multi-Platform Brand in Australia


Digital Presence Across International Content and Social Media Platforms


Content Aggregator Platforms Social Media Platforms

Food & Wine Mexico magazine launched in February 2018 and now extends into a private club for 360° gastronomy and mixology experiences

• Annual Membership• Exclusive Events• Concierge Service

International Brand Extensions: Dining


MÉXICO

International Brand Extensions: Culinary Institute


Food & Wine Italy magazine launched in December 2018 and includes a culinary school as part of the brand extension

Founded in 1936, LIFE magazine is the visual chronicle of the “American Century.”

LIFE Picture Collection contains 7.5 million images

LIFE Images Collection contains 2 million images

Mansell Collection contains 650,000 images

DMI Collection contains 500,000 images

Dahlstrom and Hugo Jaeger Collection each contains 7,300 and 2,000 images, respectively

That’s a lot of images! So we license them worldwide in the following formats:

➢ Editorial Licensing➢ Brand Licensing➢ Exhibitions➢ Fine Art Gallery➢ Consumer Prints

LIFE Photo Collection: Largest International Brand Licensing Program


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ArmeniaWood

AustraliaBetter Homes and Gardens

Centurion

Diabetic Living

Entertainment Weekly

Family Circle

InStyle

People (WHO)

AustriaCenturion

Departures

InStyle

Shape

AzerbaijanWood

BangladeshTravel + Leisure

BahrainCenturion

Departures

BelarusInStyle

Shape

Wood

BhutanTravel + Leisure

BrazilParents

BruneiTravel + Leisure

BurmaTravel + Leisure

CambodiaTravel + Leisure

CanadaMultiple brands

ChinaBetter Homes and Gardens

Food & Wine

InStyle

LIFE

Parents

Travel + Leisure

CroatiaDepartures

CyprusShape

DenmarkDepartures

EstoniaDepartures

FinlandDepartures

FranceCenturion

Departures

GeorgiaWood

GermanyCenturion

Departures

InStyle

Shape

GreeceInStyle

People

Shape

Hong KongCenturion

Travel + Leisure

HungaryInStyle

Shape

IndiaCenturion

Travel + Leisure

IndonesiaTravel + Leisure

ItalyCenturion

Departures

Food & Wine

IsraelCenturion

JapanLIFE

KazakhstanInStyle

Shape

Wood

KuwaitCenturion

LaosTravel + Leisure

LatviaShape

Departures

LebanonCenturion

Departures

LithuaniaShape

Departures

New ZealandBetter Homes and Gardens

Centurion

Entertainment Weekly

Family Circle

InStyle

People (WHO)

OmanCenturion

Departures

PakistanTravel + Leisure

Papau New GuineaFamily Circle

PhilippinesTravel + Leisure

QatarCenturion

Departures

RomaniaParents

RussiaDepartures

Diabetic Living

InStyle

Shape

Wood

San MarinoFood & Wine

Saudi ArabiaDepartures

SingaporeCenturion

PeopleTV

Shape

Travel + Leisure

South KoreaLIFE

SpainCenturion

Departures

InStyle

LIFE

Sri LankaTravel + Leisure

SwedenCenturion

Departures

SwitzerlandCenturion

Food & Wine

InStyle

Shape

TaiwanCenturion

InStyle

Travel + Leisure

TajikistanWood

ThailandTravel + Leisure

TurkeyInStyle

UAECenturion

Departures

UKCenturion

Departures

LIFE

UkraineInStyle

Shape

Wood

UzbekistanWood

Vatican CityFood & Wine

Vietnam

Meredith International at a Glance


MacauBetter Homes and Gardens

Travel + Leisure

MalaysiaShape

Travel + Leisure

MaldivesTravel + Leisure

MoldovaWood

MexicoDepartures

Food & Wine

InStyle

People en Espanol

Travel + Leisure

MonacoFood & Wine

NepalTravel + Leisure

NetherlandsCenturion

Departures

➢ PEOPLE has a total footprint of 100MM

➢ An issue of PEOPLE is sold every 1.5 seconds

| Overview


Reaching

1 in 2 Women in US

Reaching

1 in 2Women ages 18-34

Reaching

1 in 3 US adults

“Storytelling and Service That Engages Across Every Platform”

• Print: 36MM readers (largest magazine in the world)

• Digital: 65MM monthly unique visitors

• Mobile: 60MM monthly unique visitors

• Social Media: 37MM social followers across all platforms

• Video: 79MM monthly views

| Brand Cross Platform Reach

Facebook: 11.8MM

Instagram: 7.4MM

Twitter: 13.9MM

Snapchat Discover Channel

Print PEOPLE Magazine 3.4MM SubsLargest magazine in the world

Entertainment Weekly 1.4 MM Subs

Digital Footprint ● 64MM Unique Visitors - PEOPLE● 27MM Unique Visitors - Entertainment

Weekly● 170MM Across Meredith portfolio

(print & digital)

Extensive Loyal Built in Audience


Radio● EW Radio on Sirius XM

Social Platforms:(EW, People)

Brand Email Newsletters● Daily & Weekly

| Partners

Recommended Next Steps


30-40 min

Average Viewer time on OTT devices

21%

Average MOM app download growth

153MM

PeopleTV views in2018

• PeopleTV is an advertiser-supported live linear and on-demand

service.

• Partners: Apple TV, Apple IOS, SKY, Chromecast, Comcast,

Amazon Fire TV, Xumo, 7Plus, Starhub, Android, Vewd, FuboTv,

Pluto, Philo, The Roku Channel

• Global launches:

• 7plus in Australia • StarHub in Singapore

• PeopleTV Reach: 40MM+ with streaming and cable partners

• Original programming with all rights for international territories

• Viewers have unlimited, daily access to an expansive slate of programming including: ➢ Live daily shows➢ One-on-one celebrity interviews➢ Live red carpet coverage➢ Popular cast reunions➢ Behind-the-scene access to PEOPLE cover stories

• Combination of short and long form series

• Hundreds of hours of content curated from iconic Meredith brands:

- People - Travel + Leisure - Better Homes & Gardens

- Entertainment Weekly - HelloGiggles - InStyle

- Food & Wine - Parents - Real Simple

• NEW additional daily live hours or programming coming in 2019

• Increased Red Carpet specials throughout the year

• Recently announced launch of syndicated daily series for local US station groups

| Programming


| Partner Promotional Support

Royal Wedding - May 2018

• ROKU - Drove 23% of total views of Royal content during wedding week.

• XUMO - 50% of viewers discovered LIVE stream because of promo placement on-screen. Viewers stayed 15x longer than usual.

• Expanding PeopleTV’s distribution with additional linear channel launches and VOD partnerships

• Supplementing existing licensees with fresh celebrity and entertainment focused content enabling our partners to expand their reach

• Customizing the network with platform partners by creating localized produced shows airing alongside our daily output

• Increasing our short-form business with PeopleTV content and supplying our partners with additional packages for their celebrity & entertainment vertical

| Looking to the Future…


THANK YOU!


Thank you!

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