Preliminary numbers indicate that Maven (MVEN) outperformed financial forecasts for 2019, including Q4 during dramatic transitions of Sports Illustrated and TheStreet, the company announced today. Maven generated more than $45 million in revenue for the quarter, leaving more cash in the treasury than anticipated in its most recent financing.
Financial and digital metrics improved quickly and materially for Sports Illustrated, in particular, after Maven replaced SI’s senior management team and implemented dramatic changes in editorial strategy for both print and digital, tech platform, sales approach, print format, video strategy, headcount and expense discipline.