When viewed in terms of performance, MVEN’s performance for the week was 12.68% while its performance for the month was -20.00%. The quarterly performance saw a decline of -42.86%, with YTD performance and -55.56% for the last six months. In the last 52 weeks, the stock’s price range has been $0.3000–$3.0000. Last month, the Company unveiled a couple of developments that probably are still influencing the stock prices.
Last month’s Developments
Under the symbol “MVEN,” theMaven will trade on the OTCQX. Investors in the United States can find the latest financial disclosure information and Real-Time Level 2 quotes at www.otcmarkets.com.
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Maven Rebrands as The Arena Group
20/9/2021- Maven, Inc. (OTC: MVEN) has changed its name to The Arena Group. It reflects the company’s focus over the past year on strategically building scalable vertical media platforms, called “Arenas,” with a dynamic, centralized technological platform focused on attracting passionate consumers. The company’s reimagined identity brings consumers, brands, publishers, storytellers, and advertisers together around robust digital destinations.
Following the promotion of Sports Illustrated CEO Ross Levinsohn to Arena Group CEO at the end of last year, MVEN began concepting a vertical-centric model. A team of experienced executives led by Levinsohn, including COO Andrew Kraft, CMO Jill Marchisotto, CRO Avi Zimak, and President of Platform and Media Rob Barrett, worked against the clock to unite the platform and media organizations into a single entity. This vision has been supported by more than $40 million in capital raised over the past year. By sharpening Arena Group’s focus on its flagship brands, the company saw the chance to cross-pollinate value that was available to publishers within each vertical ecosystem. Results have been encouraging throughout the last year. The digital revenue in the second quarter increased by approximately 91% over the last year. Across all Arena Group properties, recurring subscriptions account for 55% of overall revenue.
Arena Media Group is focused on developing a premier sports vertical anchored by Sports Illustrated in 2021, and it is implementing a program of publisher acquisitions and content alliances to further enhance its flagship brand. In June, the company acquired sports publisher The Spun under its new management team, reaping the benefits of its focus.
Comscore reports that the digital audience for sports properties has grown over 300% over the last year. Since then, Comscore has reported that digital readership has increased even further to over 50 million users in August, up from 42 million users and 207 million page views in July.
(According to Google Analytics) Arena Group currently reaches over 120 million consumers across all owned, licensed, and integrated partner properties. A total of 17 partner sites that are anchored by TheStreet are applying the same formula that made its sports vertical a success. During TheStreet’s current executive team’s tenure, the company has seen its subscription business grow by over 36%.
Maven, a division of The Arena Group, creates robust digital destinations that delight consumers with experiences, powerful journalism, and news about the things they love – sports teams, investing tips, personal finance advice, and the latest lifestyle trends. A modern media company provides brands like Sports Illustrated and TheStreet with native content that is highly relevant to the consumer via superior technology, editorial expertise, and marketing savvy.