Anemic Ad Sales Impact Meredith’s Q3 Earnings

After a few days of delay, Meredith released its Q3 earnings, which closed on March 31. Starting with the bottom line, adjusted EBITDA totaled $151.8 million, a 5.5% decline versus the same period last year. The top line illustrates why. Overall, the company’s revenue fell 6.5% versus 2019. Meredith attributes some of the decline to portfolio and title changes. Among those shifts were the rebranding of Rachael Ray In Season, which is now a quarterly newsstand magazine, transitioning Traditional Home to a newsstand-only model, as well as reducing Entertainment Weekly’s frequency to monthly and shuttering Family Circle and Money magazines. Given these changes, the comparable YoY revenue outlook is still down, but only 1.2%. The company also indicates that COVID-19 impacted ad spend as early as March, and among the categories hit hardest were automotive, entertainment and travel. Some categories were more stable, including pharama, pet, and home. CEO and president of Meredith, Tom Harty, did suggest food is beginning to tick back up in this morning's earnings call. That said, he forecasted significant advertising declines to continue into Q4 as a result of the current economic conditions. Advertising, which accounted for $332.1 million in revenue, declined by $36 million in the third quarter, which is a 9.8% total decrease, or 4.8% comparable change YoY. Print advertising took an especially hard hit, comparably down 7.5%, which was an overall decrease of 17.9% YoY. Digital... Continue reading at 'Folio Magazine'

[ Folio Magazine | 2020-05-14 15:44:55 UTC ]

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Industry leaders look at what lies ahead in 2021

Senior figures in the trade have said support for bookshops is a high priority in the coming year, while promising further steps to improve diversity across the industry. Continue reading at The Bookseller

[ The Bookseller | 2021-01-08 04:59:16 UTC ]
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Vox Solicits Reader Contributions to Keep Its Content Free Amid Ad Declines

The near-simultaneous rush among publishers with subscription businesses to loosen their paywalls and provide free access to reporting on the COVID-19 pandemic has reignited long-standing debates about whether the news should fundamentally be free, even as ad-supported journalism (with some... Continue reading at Folio Magazine

[ Folio Magazine | 2020-04-10 16:17:19 UTC ]
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Apple News+ Launches in the UK with The Times and Hearst on Board

Apple has rolled out its publisher subscription service, Apple News+, to the U.K. some six months after announcing it in the Continue reading at Editor & Publisher

[ Editor & Publisher | 2019-10-01 19:00:00 UTC ]
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Comscore stock down 85 percent since resignation of CEO and cash infusion from Cayman Islands fund

Comscore, its stock already approaching all-time lows, missed expectations of flat revenue with a 4.4 percent decline last quarter. The media measurement company’s interim CEO said on a Tuesday earnings call after market close that it’s “exploring all strategic options.” The stock already has... Continue reading at Advertising Age

[ Advertising Age | 2019-08-07 00:08:01 UTC ]
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Comscore is 'exploring all strategic options' after missing on revenue

Comscore, its stock already approaching all-time lows, missed expectations of flat revenue with a 4.4 percent decline last quarter. The media measurement company’s interim CEO said on a Tuesday earnings call after market close that it’s “exploring all strategic options.” The stock already has... Continue reading at Advertising Age

[ Advertising Age | 2019-08-07 00:08:01 UTC ]
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10 Takeaways You Missed From Our Content Engagement Master Class

[caption id="attachment_160793" align="aligncenter" width="820"] Jessica Levenson and Dean Praetorius answering audience questions about SEO[/caption] On June 18, some of the top practitioners in the industry from Atlantic Media, Bonnier, Meredith, TechTarget and Toast Media Group led a... Continue reading at Folio Magazine

[ Folio Magazine | 2019-06-25 20:52:36 UTC ]
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Life After Print: How 3 Magazines Are Navigating Their New Business Models

As consumers and advertisers continue to shift their attention to digital media platforms, traditional print publishers are increasingly coming to the difficult decision that their future doesn’t include a print publication at all—or at least not one with a regular frequency. In the last month... Continue reading at Folio Magazine

[ Folio Magazine | 2019-05-21 14:39:41 UTC ]
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Unlocking the Ad Analytics Ecosystem

[Partner Content] How a regional lifestyle magazine is using lead generation and data appending services to better serve its clients. The post Unlocking the Ad Analytics Ecosystem appeared first on Folio:. Continue reading at Folio Magazine

[ Folio Magazine | 2018-03-27 00:00:00 UTC ]
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