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 ]
News tagged with:
#digital engagement
#roughly half
#apple news+
#lead generation
#cash flow
#high priority
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.... Continue reading at Folio Magazine
[ Folio Magazine | 2020-05-14 15:44:55 UTC ]
More news stories like this | News stories tagged with:
#digital engagement
#roughly half
#apple news+
#lead generation
#cash flow
#high priority
Revenue in Educational Development Corp.'s direct sales division jumped 68.4% in the third quarter ended November 30, 2020, leading to a 63.5% increase in total sales for the publisher. Net income rose 63.5% over last year's third quarter. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-01-14 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#total sales
#earnings soared
#5% increase
With sales of both print and digital books rising in the third quarter, revenue at Simon & Schuster increased 28.5% over the quarter ended September 30, 2109, and profits were up 5.5%. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-11-06 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#digital books
A small gain in digital sales offset softer print sales in HC's third quarter, leading to a 2.1% decline in sales compared to the third quarter of fiscal 2019. Earnings increased 3.1%. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-05-08 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#sales fell
#earnings rose
#small gain
#1% decline
#sales compared
#print sales
For the quarter ended January 31, 2020, John Wiley reported that revenue rose 4% over last year’s third quarter, to $467.1 million, and net income increased 1.4%, to $35.4 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-03-04 05:00:00 UTC ]
More news stories like this |
Meredith Corp. execs touted what they saw as encouraging signs for both print and digital advertising as well as a significant uptick in consumer-driven revenue on an earnings call Friday reporting the company's performance in the third quarter of 2019 (Meredith's fiscal years start in July... Continue reading at Folio Magazine
[ Folio Magazine | 2019-05-14 16:48:23 UTC ]
More news stories like this | News stories tagged with:
#pushed back
#cost savings
#sports illustrated
#60% stake
After completing another solid quarter, Simon & Schuster CEO Carolyn Reidy said that while business was soft in October because of distractions caused by the upcoming election, she believes sales will rebound after the midterm elections on November 6. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-11-01 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#solid quarter
#midterm elections
Revenue at the publisher rose 4% in the third quarter of fiscal 2017, to $374 million. Earnings increased 3%, to $37 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-10 00:00:00 UTC ]
More news stories like this |
Revenue increased 11% in the third quarter of 2016 at Simon & Schuster, while and earnings rose by $1 million, to $44 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-11-03 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#earnings rise
#simon schuster
#earnings rose
#$1 million
#$44 million
London's British Academy Book Prize reports on its 2022 winner's sales and rights deals as it releases its 2023 nonfiction shortlist. The post British Academy Names a Shortlist; Reports on Sales Impact appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-09-12 12:57:48 UTC ]
More news stories like this | News stories tagged with:
#rights deals
#book prize
The combination of its decision to streamline its business and softer industry sales resulted in revenue at Quarto Group falling 16% in the first half of 2023, to $52 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-30 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#earnings fall
#quarto
Twitter's advertising revenue is down 59 percent during a five week stretch between April 1st and early May compared to the same period last year, The New York Times has reported. It regularly falls short of sales projections, and things aren't likely to change soon (apparently despite the... Continue reading at Engadget
[ Engadget | 2023-06-06 09:25:43 UTC ]
More news stories like this | News stories tagged with:
#bad news
#business operations
#product design
#resolve issues
#tall order
#comic book
Educational Development Corp., whose business soared during the pandemic, continues to struggle to find a firm financial footing in the new normal. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-15 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#edc sales
A 19% increase in Scholastic's children's book publishing and distribution segment drove total sales up 12% in the second quarter, while operating income rose 20%. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-12-16 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#book publishing
#children's book
Though its third-quarter results slowed compared to the first half of 2022, Simon & Schuster remains on track to have a record year, which CEO Jonathan Karp attributed to employees' ability to stay focused on books despite the company being for sale for more than two years. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-11-02 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#record year
#stay focused
The launch of some new imprints and another good year for a number of its most popular series combined to boost sales at Quarto Group by 19%, to $151.5 million, in 2021 over 2020. Adjusted operating profit jumped 51%, to $ 16 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-03-17 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#boost sales
#good year
#quarto group
#quarto
Financial results from Educational Development Corp. continue to suffer from comparisons to the record highs they hit last year, although EDC said sales through the first nine months of the year are still ahead of pre-pandemic levels. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-01-07 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#edc sales
#earnings fall
#financial results
#record highs
#pre-pandemic levels
With all three of its operating segments posting increases, John Wiley & Sons reported that revenue for the second quarter ended October 31, 2021, rose 9% over last year, to $533 million, and operating income increased 6%, to $73.9 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-12-07 05:00:00 UTC ]
More news stories like this |
Regnery Publishing had a small sales increase in the third quarter, while Salem Author Services had a 27% jump in self-publishing fees, leading to a 5.6% increase in revenue, to $5.7 million, at Salem Media's publishing group. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-11-10 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#regnery publishing
#6% increase
#salem media