How did AREN's digital projects drive revenue growth in Q3 2024?

The Arena Group (AREN) reported a total revenue of $33.56 million for Q3 2024, with a year-over-year growth rate of -0.09%. The company's digital projects, though significant, did not drive revenue growth in Q3 2024. 1. **Digital Projects Impact**: The digital segment of AREN's business contributed $124.83 million to the revenue. However, no specific information is given about the revenue generated by digital projects within the digital segment. Digital projects could include various activities such as digital advertising, digital subscriptions, and other digital services. |code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code| |---|---|---|---|---|---|---| |AREN|AREN.A|The Arena Group|20240101-2024|Print|1550000|170| |AREN|AREN.A|The Arena Group|20240101-2024|Print|1026000|170| |AREN|AREN.A|The Arena Group|20240101-2024|Print|273000|170| |AREN|AREN.A|The Arena Group|20240101-2024|Print|273000|170| |AREN|AREN.A|The Arena Group|20240101-2024|Digital|2.8668E7|170| 2. **Revenue Growth Rate**: The overall revenue growth rate for Q3 2024 was -0.09%, indicating a slight decline in revenue rather than growth. This suggests that the digital projects, whatever their nature, did not contribute to an increase in revenue for the quarter. |code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code| |---|---|---|---|---|---|---| |AREN|AREN.A|The Arena Group|2023 Q4|-28.410878484666657|4.4144E7|170| |AREN|AREN.A|The Arena Group|2024 Q1|1.8403828559363784|2.8941E7|170| |AREN|AREN.A|The Arena Group|2024 Q2|-20.21894810988495|2.7183E7|170| |AREN|AREN.A|The Arena Group|2024 Q3|-9.301005514109633|3.3555E7|170| 3. **Other Factors**: The negative growth rate could be attributed to factors other than the performance of digital projects. For instance, the company's digital advertising segment contributed $93.01 million to the revenue, but without knowing the specifics of this segment's performance, it is difficult to ascertain its impact on the overall revenue growth (or lack thereof) in Q3 2024. 4. **Conclusion**: Given the overall revenue decline in Q3 2024 and the lack of specific information about the revenue generated by digital projects, it can be concluded that AREN's digital projects did not drive revenue growth in Q3 2024. The negative growth rate suggests that other factors, possibly related to the company's other business segments or operational challenges, had a more significant impact on the revenue figures for the quarter.