Lifeway Christian Resources Revenue Recovery
Although it closed its physical locations, the SBC entity has increased revenue by returning to its roots.
Lifeway Christian Resources, a Nashville-based non-profit entity of the Southern Baptist Convention and provider of Christian resources, has seen its revenue bouncing back since it hit a low in 2020.
According to Ben Mandrell, Lifeway president and CEO, the revenue for 2023 was $277 million, up 12% from 2022 and up over $70 million from the low of $206 million in 2020.
“We did it by returning to our roots,” Mandrell told Publishers Weekly. “The original mission of Lifeway was to serve local churches.”
Mandrell took the leadership reins of Lifeway in 2019, just three months after it closed all 170 of its brick-and-mortar locations.
He then led the company through the COVID-19 pandemic. Demand for Lifeway’s vacation bible school resources and other programming materials dropped, forcing budget cuts totaling $25 to $30 million.
Then in 2021, popular Bible study teacher Beth Moore left the Southern Baptist Convention and began publishing materials under her own banner.
To solve the crisis, Mandrell took the company back to its origins, focusing on solving a problem or filling a gap perceived by church leaders.
“Lifeway must draw closer together, united in one clear mission—serving local churches,” Mandrell told his trustees during their meeting in Nashville in August 2021.
“We must serve the customer more deeply, and to serve our core customers—local churches—more deeply, we need to understand them and their needs,” he added.
“Church leaders will choose Lifeway when we solve a problem and make their jobs easier,” Mandrell said.
Lifeway saw growth in every area of its resources, from Bible and curriculum sales to children’s and youth programming materials and women’s ministry events.
Lifeway’s women’s ministry events, featuring well-known speakers like Priscilla Shirer, Lysa Terkeurst, and Jackie Hill Perry, have been a popular addition to its repertoire of products.
Access to MinistryWatch content is free. However, we hope you will support our work with your prayers and financial gifts. To make a donation, click here.
For children and youth, it has designed a new curriculum program, Hyfi. Mandrell described it as featuring “eight times more media incorporated than anything we’ve ever created before.”
The curriculum was launched in September and already has 1,200 church subscribers, according to the company.
Things continue to look good for Lifeway. According to a report given at the trustee meeting in January, Lifeway is well ahead of 2023’s first-quarter revenue.
Mandrell also described Lifeway’s 2030 vision “to empower 300,000 church leaders with research and resources to reach the nations.”
Lifeway is working with around 100,000 church leaders, but implementation of new technology and a realignment within the organization should allow it to triple the number of leaders it works with by 2030, Mandrell explained.
Main photo: Photo via social media @Lifeway
TO OUR READERS: Do you have a story idea, or do you want to give us feedback about this or any other story? Please email us: [email protected]
