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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Steven Furtick’s latest, ‘(Un)Qualified,’ debuted at #4 on our Religion Nonfiction bestsellers list for the month of March, while five books with a presence in Hollywood ranked among the top 10 in Religion Fiction. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-13 00:00:00 UTC ]
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Leadership shuffle sees Long replace Eric Danetz; Jorg Strattman promoted to associate publisher. The post Meredith Long Named Group Publisher of Time, Fortune, and Money appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-04-12 00:00:00 UTC ]
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Nonfiction category saw the largest boost, thanks to the popularity of coloring books such as 'Secret Garden' and 'Lost Ocean.' Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-08 00:00:00 UTC ]
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"Batman v Superman: Dawn of Justice," is poised to conquer the box office for the third straight weekend. But beneath the cape, tights and superhero armor lies a mere mortal."Batman v Superman," one of the most expensive films ever made, is on pace to produce a $278 million profit for Warner... Continue reading at Advertising Age
[ Advertising Age | 2016-04-08 00:00:00 UTC ]
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Branded content and product placement are now A-OK with Facebook if marketers with verified pages on the platform follow the rules. The social media giant today began offering tags that companies can use to mark their videos and other content as branded content, though they are not allowed to... Continue reading at AdWeek
[ AdWeek | 2016-04-08 00:00:00 UTC ]
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So, digital advertising networks are back in the news, to borrow a common joke template used by late-night comedians.In March, Distractify, one of hundreds of publishers who belong to the Vice Digital Network, was singled out in a Variety story for contributing to a drop in traffic for Vice... Continue reading at Advertising Age
[ Advertising Age | 2016-04-08 00:00:00 UTC ]
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The Boston publisher of business and parenting titles has seen its sales climb each year since it set up shop in 2011. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-08 00:00:00 UTC ]
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Female-oriented publishing giant signs agreements with viral video brand Whats Up Parents and independent mag GFF: Gluten-Free Forever. The post Meredith Inks Two More Millennial-Focused Partnerships appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-04-08 00:00:00 UTC ]
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If the Federal Trade Commission decided to audit publishers' native ads today, around 70 percent of websites wouldn't be compliant with the FTC's latest guidelines, according to a new report from MediaRadar. After reviewing thousands of native ads, MediaRadar found only one-third of publishers... Continue reading at AdWeek
[ AdWeek | 2016-04-08 00:00:00 UTC ]
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Lexus dealers were so unnerved by online ad fraud a couple years back that they began urging Monica Mellier, group media director at the agency Team One, to redirect their ad dollars from digital media to legacy platforms such as TV or outdoor signs."We had a lot of conversations about how we... Continue reading at Advertising Age
[ Advertising Age | 2016-04-07 00:00:00 UTC ]
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Hachette Book Group (HBG) has completed its acquisition of the Perseus Book Group’s publishing business. Continue reading at The Bookseller
[ The Bookseller | 2016-04-02 00:00:00 UTC ]
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We asked publishing pros at yesterday's Digiday Publishing Summit for their scout's-honor stance on how they're pitching native, who's buying, and more. Here's what they said in 5 charts. Sponsor content by Nativo. The post Infographic: 50 percent of publishers recruit editors to create native... Continue reading at Digiday
[ Digiday | 2016-04-01 00:00:00 UTC ]
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Manga is a hit-driven market, and new titles from the Tokyo Ghoul, One-Punch Man, and Attack on Titan properties are pushing a sales rebound in the category. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-01 00:00:00 UTC ]
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Sales of J K Rowling’s Harry Potter audiobooks through Audible have already reached one million copies, according to the company. Continue reading at The Bookseller
[ The Bookseller | 2016-04-01 00:00:00 UTC ]
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The sale of the Perseus Books Group has been completed. It was announced in March that Hachette was acquiring the company's publishing business, while Ingram Content Group was buying Perseus' distribution arm. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-01 00:00:00 UTC ]
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From a user's perspective, Facebook Instant Articles are a no-brainer. Just tap the relevant link in your News Feed and the piece is visible immediately. Brilliant. For publishers, however, the feature is a little more complicated. There's a trade-of... Continue reading at Engadget
[ Engadget | 2016-03-31 00:00:00 UTC ]
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Newspaper publisher Digital First Media is getting a discount on its purchase of the Orange County Register and Riverside Press-Enterprise. A federal bankruptcy court judge this morning approved a final purchase price of $49.8 million for the assets of bankrupt Santa Ana publishing company... Continue reading at Los Angeles Times
[ Los Angeles Times | 2016-03-31 00:00:00 UTC ]
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To better service independent and museum stores, three university presses are forming a joint U.S. sales force. Harvard, which had worked closely with MIT and Yale, intends to sign with Columbia for sales. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-31 00:00:00 UTC ]
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Fourth and final excerpt in a series about a great American B2B media company. The post The Sale, Decline, and Ultimate Demise of Cahners Publishing appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-03-30 00:00:00 UTC ]
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One gripe publishers have had about fast-loading Facebook Instant Articles is that it’s hard to monetize, especially with native advertising. Publishers will soon have greater ability to run native ads there, though, as ad tech company Polar is extending support for its platform to Instant... Continue reading at Digiday
[ Digiday | 2016-03-29 00:00:00 UTC ]
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