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The Arena Group Reports Full Year 2022 Revenue of $221 Million Driven by a Nearly 74% Year Over Year Increase in Digital Advertising Revenue

Results Showcase a $28 Million Improvement in Operating Income for Full Year 2022
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NEW YORK – March 16, 2023 – The Arena Group Holdings, Inc. (NYSE American: AREN) (the “Company” or “The Arena Group”), a tech-powered media company home to more than 265 brands, including Sports Illustrated, TheStreet, Parade Media (“Parade”), and Men’s Journal operating on a single technology platform, today announced financial results for the three months and twelve months ended December 31, 2022. The Company reported significant improvements in both top-and bottom-line results in 2022, driving record revenues of more than $221 million, while reducing operating expenses by nearly $20 million over that time. In the fourth quarter of 2022, the Company reported revenue from continuing operations of $61.7 million while reducing operating expenses by more than 30%. These results were driven by significant gains in digital advertising and licensing and syndication, and new lines of revenue in online betting and e-commerce, while managing headwinds and declines in the legacy print and subscription lines. Overall, the Company reported its highest full-year revenue and profits in its history.

For the full press release on financial and operational highlights, please visit

Management Commentary

Chairman and Chief Executive Officer of The Arena Group, Ross Levinsohn, said, “2022 was a transformative year for our Company as we grew our digital business lines substantially, expanded our portfolio, recorded revenue growth and sharpened our operations to drive significant improvements to our financial results. We have grown revenue from $53.3 million in 2019 to $220.9 million in 2022, while expanding margins and significantly narrowing our losses and reporting our first full year of positive Adjusted EBITDA in our Company’s history.”

“In 2023, we are focused on continuing to streamline our operations to drive operating cash flow and profits for our Company and shareholders,” added Mr. Levinsohn. “We have successfully re-platformed our Men’s Journal, Men’s Fitness, Surfer, Powder and Bike acquisitions, and following the addition of 113 new sites in 2022, we continue to further expand our footprint, reach and inventory. In the fourth quarter of 2022, we generated positive cash from operations and delivered $5.4 million in positive Adjusted EBITDA. We expect $30 to $35 million in Adjusted EBITDA for 2023, demonstrating the growing earnings power of our business as we more effectively leverage our scale. Simultaneously, we expect to continue to expand our use of technology, including artificial intelligence solutions, to drive incremental productivity efficiencies.”

For the full press release on financial and operational highlights, please visit