Dotdash Meredith reports losses, ‘rapid pullback’ of ad spending
BPC Staff Aug 15, 2022 | 3:29 pm
<1 min read time
87 wordsAll Latest News, Culture, Insurance & Investments, Iowa NewsDes Moines Register: With advertisers pulling back on spending, executives at Dotdash Meredith’s parent company say they won’t hit their revenue targets for the year. In a letter to shareholders, IAC/Interactive Corp. CEO Joey Levin said the New York-based media company, with major operations in Des Moines, has seen a “rapid pullback” in ad spending. Overall, Levin told shareholders last week, Dotdash Meredith’s goal of 15%-20% growth in digital revenue for 2022 is “unlikely.” Dotdash Meredith reported a $27.5 million operating loss for its most recent quarter.
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