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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Media company Meredith is betting big on Facebook Live. It has produced 26 videos in the past eight months and aims to create between five and 10 a week. It puts a big focus on Martha Stewart content and uses those live videos to generate revenue through integrating products within them. It's... Continue reading at Digiday
[ Digiday | 2016-07-26 00:00:00 UTC ]
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Sales of adult books fell again in February, while sales in the children's/young adult category rebounded, according to figures released Tuesday by the AAP. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-07-26 00:00:00 UTC ]
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Under publisher Christine Guilfoyle, the title hits newsstands in October with a run of 400,000 copies. The post Meredith to Partner with “Fixer Upper” Stars on New Lifestyle Mag appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-07-20 00:00:00 UTC ]
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Facebook has updated its app-install ads to allow developers to select targeted audiences based on which users will most likely use an app and not just install and forget about it. The product, App Event Optimization, will allow advertisers to select from among 14 user actions that might... Continue reading at AdWeek
[ AdWeek | 2016-07-18 00:00:00 UTC ]
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Print sales in the UK in the first six months of 2016 rocketed up 9.3% year on year to £644.9m, the market’s biggest half-year percentage rise in 14 years, and the second-largest jump since Nielsen BookScan full-market data began in 2001. Continue reading at The Bookseller
[ The Bookseller | 2016-07-15 00:00:00 UTC ]
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Bookstore sales cooled slightly in May, but spending still rose for the fifth straight month this year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-07-15 00:00:00 UTC ]
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Data from the Association of American Publishers shows that total industry sales fell 0.6% in 2015 compared to 2014, to $27.78 billion. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-07-15 00:00:00 UTC ]
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Many digital media businesses chase readers on the largest scale possible, all the better to attract advertisers that want to spread their messages widely. But big reach comes at a cost -- in quality, in resources -- that isn't always justified by the ad rates online.Unfortunately the niche game... Continue reading at Advertising Age
[ Advertising Age | 2016-07-15 00:00:00 UTC ]
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Advertising on the websites of premium publishers, such as The New York Times and Hearst properties, is three times as effective as it is on those of nonpremium publishers at boosting brand favorability and making users more likely to recommend products or services, according to a study by... Continue reading at AdWeek
[ AdWeek | 2016-07-15 00:00:00 UTC ]
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We asked Maddie Jane, sales development officer at the Bible Reading Fellowship about her role. Continue reading at The Bookseller
[ The Bookseller | 2016-07-14 00:00:00 UTC ]
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Kensington Publishing will add a mass market paperback line to its Lyrical Press imprint, Kensington’s digital first unit that it bought in January 2014. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-07-14 00:00:00 UTC ]
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Sales shot up for Kathi Lipp’s 2009 ‘The Husband Project’ with the launch of an online Bible. Plus, Jan Karon maintained the top perch in Religion Fiction for the second month in a row. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-07-13 00:00:00 UTC ]
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After six straight years of growth, North American digital comics sales dropped 10% in 2015, to $90 million. The decline, documented in a new report issued by the pop culture trade news site ICv2, mirrors a similar decline in the sales of prose ebooks. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-07-12 00:00:00 UTC ]
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Figures show 2015 book sales in Japan pulling ahead 'slightly' by comparison to magazine sales. One runaway bestseller might deserve as much credit as softer sales in the fashion media. The post Did Matayoshi ‘Spark’ Japan’s Growth in Book Sales? appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2016-07-12 00:00:00 UTC ]
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Final estimates released this morning by the Association of American Publishers show that total industry sales dipped 0.6% in 2015 compared to 2014, falling to $27.78 billion, from $27.96 billion in 2014. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-07-11 00:00:00 UTC ]
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The event, held over the July 4 weekend at the L.A. Convention Center, attracted more than 100,000 Japanese pop culture fans, and welcomed top manga artists visiting from Japan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-07-08 00:00:00 UTC ]
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Penguin Random House UK has appointed Rob Waddington as international sales director in a move that brings group and exports teams under a single leadership. Continue reading at The Bookseller
[ The Bookseller | 2016-07-07 00:00:00 UTC ]
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Author earnings could be hit in the wake of Brexit following the erosion of exclusivity rights in Europe, the Society of Authors and literary agents have warned. Continue reading at The Bookseller
[ The Bookseller | 2016-07-07 00:00:00 UTC ]
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Oxford University Press saw headline growth of 1.7%, 1% on a like-for-like basis (at constant exchange rates), in the year to end March 2016, according to its latest Annual Report. Financial details are slim, but turnover stood at £781m (up from £767m the previous year) while profit dropped 8%... Continue reading at The Bookseller
[ The Bookseller | 2016-07-07 00:00:00 UTC ]
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In the wake of Elie Wiesel's death on Saturday, sales of 'Nigtht,' the author's memoir about surviving Auschwitz, have jumped. The book's publisher, FSG, is now considering a reprint of the hardcover edition of the book. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-07-06 00:00:00 UTC ]
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