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The Arena Group to expand Parade’s fast-growing digital business

NEW YORK–(BUSINESS WIRE) — The Arena Group (NYSE American: AREN) (“The Company” or “The Arena Group”) is a high-tech media company with more than 240 brands, including Sports Illustrated, TheStreet, Inc. (“TheStreet”), Parade Media (“Parade”), and HubPages, Inc., operating on a single technology platform, today announced that they are expanding their commitment to Parade’s digital business following strong growth in its first five months of operations, during which more and more 22 million users. The company will move resources away from print operations and stop printing in November to improve Parade’s teams and efforts across the web, mobile and digital, and expand its social and authoring presence.

“In just five months, we have confirmed the current popularity and additional potential of the Parade brand. Using our proven methodology, we have nearly tripled the number of unique visitors to Parade’s renowned digital assets by further investing in our fast-growing Lifestyle vertical,” said Ross Levinson, Chairman and CEO of The Arena Group. “This shift in strategy is driven by the ongoing evolution of both the media business and consumer behavior, as well as macroeconomic factors. We will continue to build on the iconic Parade brand to satisfy consumers in how and where they interact with content.”

Arena Group acquired AMG/Parade with brands including Parade Media, creating the company’s new Lifestyle vertical in April 2022. Since the acquisition, Parade.com’s unique visitors have nearly tripled, up 189%, according to ComScore. The brand has recently created niche sources such as Parade Pets, launched in August, to expand its lifestyle footprint with others planned.

After careful consideration, management has decided to wind down Parade’s printing business once the latest edition is distributed in November 2022, and Relish and Spry Living’s printing products after October 2022. A number of Parade employees, primarily involved in printing, will leave. with a one-time restructuring. There are no changes in other printed publications of The Arena Group. Sports Illustrated magazine continues to thrive with over 1 million paying subscribers and a strong advertising business.

About the Arena group

Arena Group creates trusted digital destinations that delight consumers with powerful journalism and news about what they love – their favorite sports teams, investment advice, personal finance insider information and the latest lifestyle news. With powerful technology, editorial expertise, data management and marketing savvy, the transformative company enables brands like Sports Illustrated, TheStreet and Parade to deliver relevant content and experiences that consumers love. To learn more, visit www.thearenagroup.net.

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