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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Apple has recorded a quarterly net profit of £18bn for its first fiscal quarter, said to be the biggest ever for a public company. The company’s results, for the quarter ending 27th December 2014, also showed quarterly revenue of £74.6bn, up 29% from $57.6bn in the same period the year... Continue reading at The Bookseller
[ The Bookseller | 2015-01-29 00:00:00 UTC ]
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After three weeks of declines at the start of 2015, the print book market has bounced back, with sales up 3.5% week-on-week and tills ringing in £23.2m across 2.9m book sales. In the seven days ending 24th January, sales jumped 3.5% with book buyers spending just over £794,000 more last week... Continue reading at The Bookseller
[ The Bookseller | 2015-01-29 00:00:00 UTC ]
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The Millbrook, N.Y., bookstore, toy store, and art gallery, which opened on New Year’s Day 1988, is the latest indie to go on the market. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-01-29 00:00:00 UTC ]
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Facebook continues to do what few digital publishers can pull off: Over each of the last five quarters, the social network has been able to boost revenue even as it sells fewer ads.The ability to raise prices has rocketed Facebook's overall revenue to $3.85 billion in the most recent quarter. In... Continue reading at Advertising Age
[ Advertising Age | 2015-01-29 00:00:00 UTC ]
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Meredith is soon going to have to be designated the best magazine company in the country. The post Meredith Rises and AMI Recedes With the Acquisition of Shape appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2015-01-28 00:00:00 UTC ]
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Sales of Scotland’s first pro-independence daily paper falls to 15,000 – a quarter that of launch edition – but publishing group remains committed to investing in the titleSales of the National have fallen below 20,000 as the novelty of Scotland’s first pro-independence daily newspaper appears... Continue reading at The Guardian
[ The Guardian | 2015-01-27 00:00:00 UTC ]
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Research shows median income for all authors is now below $5,000, though ‘hybrid’ authors who use both traditional and self-publishing are doing bestAlmost a third of published authors make less than $500 (£350) a year from their writing, according to a new survey, with around a half of writers... Continue reading at The Guardian
[ The Guardian | 2015-01-23 00:00:00 UTC ]
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WH Smith has released its interim results covering the Christmas period, revealing that group sales were down 2% like-for-like. As usual, WH Smith Travel performed better than its High Street stores, with like-for-like sales up 2% and total sales up 7%, with particular improvements at large... Continue reading at The Bookseller
[ The Bookseller | 2015-01-22 00:00:00 UTC ]
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Egmont Publishing, which put its U.S. division up for sale in October, has announced plans to close the unit. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-01-21 00:00:00 UTC ]
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Led by strong gains in print formats, sales of adult trade books rose 10.9% in October over October 2013, while sales of children/young adult sales increased 16.5%, according to figures released in AAP’s monthly StatShot program. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-01-20 00:00:00 UTC ]
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Has the editor of The Bookseller compared the fall of print sales of adult fiction since 2009 by more than £150m with the massively declined budgets of public libraries over the same five-year period (The writing’s on the wall for adult fiction in print, 14 January). This is also conditioned by... Continue reading at The Guardian
[ The Guardian | 2015-01-19 00:00:00 UTC ]
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Ad fraud has been going on for decades. However, the sophistication of today’s ad fraud is something that puts sticky fingered program managers of yore to shame. The post Ad fraud: The oldest trick in the media book appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2015-01-16 00:00:00 UTC ]
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Hundreds of Britons queue overnight to buy first copies of satirical weekly to be published since last week’s Paris attacks• Charlie Hebdo ‘survivors’ issue reviewedHundreds of people queued for hours outside newsagents and bookshops across the UK to buy copies of the first issue of Charlie... Continue reading at The Guardian
[ The Guardian | 2015-01-16 00:00:00 UTC ]
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Comedian David Walliams led the sales of children's books in the UK last year, generating more than £7m in 2014. Continue reading at BBC News
[ BBC News | 2015-01-14 00:00:00 UTC ]
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As HarperCollins' integration of Harlequin moves forward, HC announced that it will be making Harlequin UK (HUK) a division of its U.K. business, while in North America it will align HC's and Harlequin's sales forces. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-01-14 00:00:00 UTC ]
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November bookstore sales fell 2.5%, to $736 million from $755 million in November 2013, according to preliminary estimates released Wednesday morning by the U.S. Census Bureau. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-01-14 00:00:00 UTC ]
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New figures from Nielsen BookScan show continuing decline since 2009 as more and more readers migrate to ebooksPrint sales of adult fiction have declined by over £150m since 2009, new figures show, as ebooks take an increasingly large bite out of the market.A review of 2014 from book sales... Continue reading at The Guardian
[ The Guardian | 2015-01-13 00:00:00 UTC ]
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For most magazine companies, 2014 was a difficult year. Backs against the wall, publishers looked beyond print for growth -- to digital media, live events, consumer products and TV deals.Vice magazine is way ahead of them.The free magazine founded in 1994 as Voice of Montreal has grown into one... Continue reading at Advertising Age
[ Advertising Age | 2015-01-12 00:00:00 UTC ]
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It's clear that the business of magazines is under pressure, but they continue to exert an outsized influence on culture, food, politics and more. Despite the business challenges, they're still sexy. Articles become movies and editors become celebrities. A short blurb turns a product into a... Continue reading at Advertising Age
[ Advertising Age | 2015-01-12 00:00:00 UTC ]
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Ad featuring photograph of young woman in lingerie posed on a bed, headlined ‘Interns wanted’, since removed News Corp Australia’s most popular magazine insert has advertised for fashion interns by using a photo of a young woman dressed in underwear on all fours on a bed.Murdoch's Sunday Style... Continue reading at The Guardian
[ The Guardian | 2015-01-09 00:00:00 UTC ]
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