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In an effort to explore and add alternative revenue generating channels through acquisitions or strategic alliances, Meredith Corporation (MDP - Analyst Report) is trying to reduce its dependence on conventional advertising.

Following this rationale, Meredith recently announced the signing of agreements in Turkey and Italy to enhance the reach of its renowned brands like Better Homes and Gardens, Parents and More, and Allrecipes.com.

In Turkey, Meredith through a licensing agreement with Dinosaurs Yayincilik ve Dijital Medya Ltd. will be launching the local editions of the Better Homes and Gardens, Parents and More. The titles, scheduled to be launched in Apr 2013, will be disbursed through subscriptions and newsstands.

Moreover, in Italy, Allrecipes.com launched Allrecipes.it, a digital site dedicated to Italian cooks.  

The sluggish economy prompted Meredith to diversify and add significant revenue streams beyond traditional advertising by leveraging its brands through strategic alliances. Brand Licensing revenues supplement the sales of the company, thus MDP extended its contract with Wal-Mart Stores Inc. (WMT - Analyst Report) through 2016, which includes expanding the Better Homes and Gardens branded home decor and garden program at Wal-Mart stores across the United States and Canada.

Going forward, Meredith remains committed to making strategic investments to increase its revenue generating capabilities while enhancing its profitability. The company is aggressively expanding its brands through online platforms, televisions, videos, mobile applications and is expanding its reach of food and lifestyle content across tablet products such as the iPad, NOOK Color, Kindle Fire, and Samsung Galaxy.

Alongside, the company also renewed its long-term affiliation agreements with CBS Corporation (CBS - Analyst Report) and News Corp.’s (NWSA - Analyst Report) Fox Broadcasting Co. Meredith is also aggressively expanding its brands through online platforms, televisions, videos, mobile applications, and broadening its reach of food and lifestyle content.

Currently, shares of Meredith retain a Zacks Rank #2 (Buy) as it continues to focus on bolstering advertising revenue, primarily in the digital space, and enhancing online consumer transactions, especially magazine subscription orders. Moreover, the company’s focus on brand licensing, marketing services and e-Commerce is likely to drive revenues.

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