Meredith Corp.’s annual report to the Securities and Exchange Commission makes clear the growing importance of brand licensing and integrated marketing activities to the media company’s bottom line.

The Aug. 24 report showed revenue declines of 4 percent in magazine advertising and 7 percent in circulation for the fiscal year that ended June 30. However, Meredith recorded a 6 percent increase in the “other” category. “Integrated marketing revenues increased 10 percent in fiscal 2011 driven by the expansion of digital and customer relationship management services for national clients,” according to the report. “Brand licensing revenues grew more than 20 percent in fiscal 2011 driven primarily by continued expansion of the Better Homes and Gardens-branded products at Wal-Mart stores.”

Overall, Meredith reported net earnings of $127 million, up from $104 million for the previous year. Other details from the document:

• Advertising pages in the company’s flagship, Better Homes and Gardens magazine, dropped 11 percent from fiscal 2010. Family Circle, its second-largest magazine, saw a 14 percent decline in ad pages.

 • “In fiscal 2011, the Company paid $40.1 million primarily for the acquisitions of The Hyperfactory Limited International and Real Girls Media Network and for contingent purchase price payments related to prior years’ acquisitions.”

• “In June 2011, management committed to a performance improvement plan that included selected workforce reductions. … The plan affected approximately 80 employees. The majority of severance costs will be paid out over the next 12 months.”