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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Sales at Houghton Mifflin Harcourt’s trade publishing division fell 7% in the third quarter ended September 30, 2015 and net income dropped to $164,000 from $3.5 million in the third quarter of 2014. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-11-05 00:00:00 UTC ]
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Lower ebook sales were the major factor in dropping EBITDA by 24% in the quarter ended September 30, 2015 at HarperCollins. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-11-05 00:00:00 UTC ]
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Double digit growth in its general merchandise operation plus increases in its core book business led to a 8.8% increase in revenue at Indigo for its second quarter ended September 26, 2015 compared to last year’s second period. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-11-03 00:00:00 UTC ]
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This year, the expedited holiday shipping program Random House initiated for indie booksellers in 2011 will feature frontlist and backlist titles published by Penguin. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-11-03 00:00:00 UTC ]
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Touting strong early performances of its Carousel ads, Instagram has opened up the option to buy the multi-photo campaigns through its self-service interfaces. Carousel lets marketers use up to five still images in a single ad, as viewers can swipe through them like virtual magazine pages. ... Continue reading at AdWeek
[ AdWeek | 2015-10-31 00:00:00 UTC ]
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New books from Deborah Jian Lee and Mona Siddiqui are among the big spirituality and religion titles publishing in November. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-10-28 00:00:00 UTC ]
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Bloomsbury Publishing's sales grew 13% in the first half of the year, boosted by a particularly strong performance from the children’s and educational department. For the six months ending 31st August 2015, turnover totalled £52.7m, 13% higher than £46.6m for the same period in 2014. Adjusted... Continue reading at The Bookseller
[ The Bookseller | 2015-10-28 00:00:00 UTC ]
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Sales were up by an average of 30% during this year’s Books Are My Bag celebration, making 2015 the “most successful” year for the campaign yet. Continue reading at The Bookseller
[ The Bookseller | 2015-10-28 00:00:00 UTC ]
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The effort is aimed at improving the shopping experience offered by the organization's online retail platform, IndieBound. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-10-28 00:00:00 UTC ]
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German publisher Axel Springer and Adblock Plus have entered a new round in their fight over ad blocking. Adblock Plus accused the publisher of quashing discussion about how to get around Axel Springer's newly erected wall that keeps ad-block users from accessing the site of its tabloid,... Continue reading at Digiday
[ Digiday | 2015-10-27 00:00:00 UTC ]
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Lena Dunham's female-focused newsletter Lenny isn't a celebrity side project. The creator of HBO's "Girls" is turning it into a money-making media company with help from Hearst.Introduced in September by Ms. Dunham and "Girls" showrunner Jenni Konner, Lenny's twice-weekly newsletter has carried... Continue reading at Advertising Age
[ Advertising Age | 2015-10-27 00:00:00 UTC ]
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Magician series among children’s books boosting revenue at publishing house, with pre-tax profits at £1.9m Harry Potter publisher Bloomsbury has reported a jump in half-year sales after a strong performance from educational and children’s books. Sales were up 11.6% to £52.7m in the six months to... Continue reading at The Guardian
[ The Guardian | 2015-10-27 00:00:00 UTC ]
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Everyone’s to blame for the state of digital advertising, but ad blocking is a problem that’s landed right in publishers’ laps. The post Playing Hot Potatoes With Ad Blocking appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2015-10-26 00:00:00 UTC ]
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Apple's recent flipping of the switch to allow for ad-blocking apps has sent the digital publishing world into a full-blown crisis, as the number of consumers fed up with ads that clutter and slow down websites—and doing something about it—has reached critical mass. While ad blocking has been... Continue reading at AdWeek
[ AdWeek | 2015-10-26 00:00:00 UTC ]
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Amazon saw a 23% rise in sales in the third quarter (ending September 30th) to $25.4bn ($20.6bn in third quarter 2014). Net income stood at $79m in the third quarter, compared to a loss of $437m in the same period in 2014. The results follow a profitable second quarter of the year. Amazon is... Continue reading at The Bookseller
[ The Bookseller | 2015-10-24 00:00:00 UTC ]
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Video is increasingly becoming part of the stock-in-trade for traditional publishers like The New York Times. Now, pure plays in the new media industry, including BuzzFeed, Vice Media and Huffington Post, are, as The Wall Street Journa ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-10-23 00:00:00 UTC ]
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With an iOS update expanding ad-blocking's reach, experts say smaller publishers and bloggers have fewer means of survival.As the debate over online ad blocking heats up with the arrival of iOS 9, experts say the biggest casualties of the online ad war may be small publishers and bloggers with... Continue reading at Fast Company
[ Fast Company | 2015-10-22 00:00:00 UTC ]
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A number of big bestsellers helped to offset 'weaker' ebook sales in the third quarter, Pearson reported. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-10-21 00:00:00 UTC ]
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Brands are just starting to play with Facebook's full-screen mobile ads, but Wendy's social marketers already seem to be having lots of fun with the new format. The fast-food chain is running a campaign that uses a combination of photos, videos and GIFs to show how each layer of its hamburgers... Continue reading at AdWeek
[ AdWeek | 2015-10-19 00:00:00 UTC ]
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WPP chief says publishers cannot rely solely on digital advertising, adding that his marketing services group is re-evaluating its spend on Google and FacebookSir Martin Sorrell has said that the slowdown in digital newspaper advertising growth is proof that publishers should have... Continue reading at The Guardian
[ The Guardian | 2015-10-19 00:00:00 UTC ]
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