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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According to preliminary estimates from the U.S. Census Bureau, bookstore sales in July rose 5.9% over July 2014, to $717 million, up from $677 million a year ago. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-15 00:00:00 UTC ]
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The summer was one of rediscovered classics, movie tie-ins, and backlist at indie bookstores across the country. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-15 00:00:00 UTC ]
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In its first study on author income since 2009, the Authors Guild delivers some jarring, if unsurprising, data. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-11 00:00:00 UTC ]
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Regional newspaper publisher extends trial of AdSmart targeted television advertising serviceJohnston Press is seeking to bolster revenues striking a three-year regional advertising deal with Sky to sell targeted TV ad slots to clients.The regional newspaper publisher started a trial to use... Continue reading at The Guardian
[ The Guardian | 2015-09-10 00:00:00 UTC ]
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A little more than one year after the sale of the company fell through, the Perseus Books Group announced Wednesday afternoon that it “has initiated a formal process to explore a potential sale of the business.” Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-09 00:00:00 UTC ]
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Total revenue at Barnes & Noble fell 1.5% in the first quarter ended August 1, 2015, to $1.2 billion, compared to last year’s first period and the net loss increased to $34.9 million from $28.4 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-09 00:00:00 UTC ]
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Media General and Meredith Corp. are combining to form the third biggest TV broadcaster. What you need to know: This is the latest in a TV consolidation wave as broadcasters seek a hedge against declining audiences and a shift to digital and try to capitalize on political ad spending. It looks... Continue reading at Digiday
[ Digiday | 2015-09-08 00:00:00 UTC ]
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Combined company to be called Meredith Media GeneralMerger to create ‘powerful multiplatform and diversified media company’Broadcaster Media General announced on Tuesday that it is buying TV and publishing company Meredith Corp in an approximately $2.4bn cash-and-stock deal.The combined company,... Continue reading at The Guardian
[ The Guardian | 2015-09-08 00:00:00 UTC ]
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Media General Inc said it would buy diversified media company Meredith Corp for about $2.34 billion to create the third-largest local TV station owner in the United States. The deal marks Media General's return to the print business, after ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-09-08 00:00:00 UTC ]
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As the digital media and advertising industries come to grips with the rise of ad blocking, so is one of the industry's more prominent organizing bodies.A month before Apple revealed in June that later this year it would enable ad blocking on its mobile Safari browser, the Interactive... Continue reading at Advertising Age
[ Advertising Age | 2015-09-04 00:00:00 UTC ]
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When the concept of native advertising first gained widespread attention in 2012, it was expected to lift publishers' fortunes and rescue digital advertising from the perpetual downward slide of display ad rates.Fast-forward three years, and native has largely delivered on that promise.... Continue reading at Advertising Age
[ Advertising Age | 2015-09-04 00:00:00 UTC ]
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After two months of speculation, AOL has acquired mobile ad network Millennial Media for $238 million, or about $1.75 per share. The Millennial deal is the newest step in building out AOL's tools to compete in mobile advertising against behemoths like Facebook, Yahoo and Google. With the deal,... Continue reading at AdWeek
[ AdWeek | 2015-09-03 00:00:00 UTC ]
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'The Rabbit Who Wants to Fall Asleep' sold about 35,000 copies in outlets that report to Nielsen BookScan last week, a 20% increase over the week that ended August 23. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-03 00:00:00 UTC ]
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Book sales of traditionally published books in the US fell by almost 6% in the first five months of this year, compared to the same period the year before. Overall sales for trade fiction and non-fiction, children, higher education, professional and university presses were down 5.8% from... Continue reading at The Bookseller
[ The Bookseller | 2015-09-02 00:00:00 UTC ]
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Trade sales in May saw some wild swings, according to AAP’s monthly StatShot program. In the adult books segment there was a decline of 5.0%, compared to the same month last year. Meanwhile, sales in children’s/young adult fell 9.3%. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-01 00:00:00 UTC ]
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Like all traditional publishers, Condé Nast has had to adapt its brands as readers and advertisers shift their habits and spending to digital platforms. The changes haven’t gone unnoticed by ad buyers. They applauded Condé Nast’s greater flexibility, manifest in its native ad platform 23 Stories... Continue reading at Digiday
[ Digiday | 2015-08-31 00:00:00 UTC ]
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Revenue dipped 0.4% in the quarter compared to 2014, slipping to $107.9 million, while the net loss rose to $5.8 million from $3.0 million. Comparable store sales fell 0.3%. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-27 00:00:00 UTC ]
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July sales at Educational Development Corp. jumped 74.7% over July 2015, hitting $4.3 million, the company reported. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-27 00:00:00 UTC ]
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BuzzFeed, the fast-growing media site, and GroupM, the world's largest buyer of online advertising, announced a partnership Thursday that underscores the rising lure of digital publishing to leading brands. Continue reading at Los Angeles Times
[ Los Angeles Times | 2015-08-27 00:00:00 UTC ]
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After selling roughly 300 copies prior to last week, self-published picture book 'The Rabbit Who Wants to Fall Asleep' moved more than 29,000 print copies in the week ended August 23. It's also rumored that the book were acquired by Random House for seven figures. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-26 00:00:00 UTC ]
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