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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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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Paula Hawkins’ bestseller leads a crop of psychological thrillers, in a top 20 dominated by womenDark psychological thrillers dominate the list of the year’s bestselling ebooks unveiled by Amazon, with MP Nadine Dorries making it into a line-up composed almost entirely of female writers.The... Continue reading at The Guardian
[ The Guardian | 2015-08-25 00:00:00 UTC ]
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#david nicholls
Traditional and online publishers are struggling to cash in on their surging mobile traffic, raising questions about their future growth as consumers increasingly turn to smartphones and tablets for media. Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-08-24 00:00:00 UTC ]
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Among his other talents, Amazon CEO Jeff Bezos has been an effective public face of his company. No matter what you may have heard about Amazon, it was hard not to smile when Bezos brought his infectious laugh to such venues as The Tonight Show with Jay Leno and The Daily Show with Jon... Continue reading at Advertising Age
[ Advertising Age | 2015-08-21 00:00:00 UTC ]
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In November 2014, then Twitter CEO Dick Costolo touted the idea that around 500 million people consume the microblogging platform's tweets even though they don't have an account on it. During an earnings call at the time, Costolo was trying to explain why the company's persistent user-growth... Continue reading at AdWeek
[ AdWeek | 2015-08-20 00:00:00 UTC ]
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It was only a matter of time before marketers started squeezing native ads into every nook of a publisher's site, and now Condé Nast, The Wall Street Journal, CNN and Fox News can sell promos that pop up in story comments. Today, Livefyre—a tech company that powers online discussions—is... Continue reading at AdWeek
[ AdWeek | 2015-08-17 00:00:00 UTC ]
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Despite heavy losses, publishers say the sale of Family Christian Stores is good for the Christian book industry. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-14 00:00:00 UTC ]
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Foyles has appointed Kim Huynh Thi as its first full time sales and events hire manager. As part of the Foyles Events team, she will report to both Andy Quinn, head of Events at Foyles and Richard Shaw, manager of Leafi Café at Foyles. Huynh Thi’s new role will be to organise and... Continue reading at The Bookseller
[ The Bookseller | 2015-08-13 00:00:00 UTC ]
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If you're already annoyed with the autoplay video ads in your Facebook timeline, you might want to brace yourself. The social network is opening up that advertising tech to outside apps, or more specifically, to publishers who leverage Menlo Park's... Continue reading at Engadget
[ Engadget | 2015-08-12 00:00:00 UTC ]
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It's a big problem for the magazine industry and it doesn't show signs of slowing down. The post Ad Blocking is Eating Up More than $20 Billion in Global Revenues appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2015-08-12 00:00:00 UTC ]
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Family Christian Stores will remain open after a creditor-approved sale to FC Acquisition. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-11 00:00:00 UTC ]
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Local newspaper publisher reports operating profits down 4.3% to £27m in first half to 3 July, but digital audience grows by more than 20%Johnston Press has said it has seen an improvement in trading since issuing a warning to investors that sent its shares tumbling last month, although ad... Continue reading at The Guardian
[ The Guardian | 2015-08-11 00:00:00 UTC ]
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Publishers’ sales in the US fell 5.6% year-on-year to $3bn in the first third of 2015, according to the Association of American Publishers (AAP). The latest monthly AAP StatShot, covering April, put total revenues for publishers down 3.3% for the month compared to April 2014. The figure... Continue reading at The Bookseller
[ The Bookseller | 2015-08-08 00:00:00 UTC ]
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Paula Hawkins’s blockbuster debut, "The Girl on the Train," led overall ebook sales for the first quarter of the year, from January to March. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-07 00:00:00 UTC ]
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The results of the latest annual sales survey from the Audiobook Publishers Association are in, and they show big jumps in both sales and title output in 2014. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-07 00:00:00 UTC ]
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What Pet Should I Get? is publisher’s fastest-selling picture book yetHarper Lee’s Go Set A Watchman is not the only recently discovered work to be breaking records this summer. Dr Seuss’s long-forgotten manuscript What Pet Should I Get? has sold 200,000 copies in just a week, its American... Continue reading at The Guardian
[ The Guardian | 2015-08-07 00:00:00 UTC ]
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Sales in the publisher's trade segment inched up 0.5% in the second quarter, to $37.4 million. But adjusted EBITDA fell to $412,000, from $1.9 million in the second quarter of 2014. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-06 00:00:00 UTC ]
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Sales in the adult book segment rose 2.3% in April over April 2014, according to figures released by the AAP. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-06 00:00:00 UTC ]
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The New York Times Co. posted second-quarter profit that topped analysts' estimates after the publisher cut expenses faster than revenue declined.Earnings excluding some items were 13 cents a share, the New York-based company said in a statement. That compares with the 11-cent average of... Continue reading at Advertising Age
[ Advertising Age | 2015-08-06 00:00:00 UTC ]
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Simon & Schuster posted an 8.6% increase in operating income in the second period of 2015 over the same period in 2014 while revenue fell 5.6%, to $199 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-05 00:00:00 UTC ]
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