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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A strong performance from HarperCollins and the acquisition of Harlequin has boosted parent company News Corp's quarterly results. Revenue for publisher's worldwide operation for the second quarter of the financial year, covering the three months to December 31st 2014, increased 20% from $391m... Continue reading at The Bookseller
[ The Bookseller | 2015-02-07 00:00:00 UTC ]
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Newspaper revenue in the UK, the US and Australia is down despite a rise in the company’s overall revenue thanks to book publishing and real estate divisionsDeclining sales, advertising and subscriptions hurt revenues at Rupert Murdoch’s newspaper business in the final quarter of last year, News... Continue reading at The Guardian
[ The Guardian | 2015-02-06 00:00:00 UTC ]
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News Corp. continues to tout the strength of its legacy newspaper business even though most of the company's growth now stems from expansions in the real estate and book publishing markets. Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-02-06 00:00:00 UTC ]
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Recent bestselling comics series like Sex Criminals, Batgirl and Lumberjanes have something in common—enthusiastic support from the Valkyries, an international networking group exclusively organized for women who work in comic shops. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-02-06 00:00:00 UTC ]
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Evangelical publishers are predicting little impact on sales and plans for future books about round trips to the hereafter following the admission by Alex Malarkey that the story he told in 'The Boy Who Came Back from Heaven' is false. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-02-06 00:00:00 UTC ]
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A work slowdown by longshoremen at West Coast ports, which has been going on since the summer, is reaching a critical point. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-02-06 00:00:00 UTC ]
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We aslked Dazed Group, News U.K., Mashable and Monrif Group what they think about the ominous subject of ad blocking. The post European publishers assess the threat of ad blocking appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2015-02-06 00:00:00 UTC ]
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Simon & Schuster has created a director of global digital and online sales role based in the US to apply a global approach to sales and marketing across its businesses worldwide. Colin Shields, who headed up the publishers’ digital sales, has been promoted to the newly created position of... Continue reading at The Bookseller
[ The Bookseller | 2015-02-05 00:00:00 UTC ]
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Dave Epstein has been promoted to v-p of retail sales, and will oversee sales of both adult and children's books to all traditional retail accounts. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-02-04 00:00:00 UTC ]
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Sales of adult trade books fell 7.8% in November compared to November 2013, while sales in the children/young adult segment rose 14.1%, according to AAP’s StatShot statistics program. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-02-04 00:00:00 UTC ]
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Facebook is allowing a new ad type in its yearly awards: Instagram campaigns. The Facebook Awards started taking submissions last week, and for the first time, Instagram ads are up for consideration, the social network said. This is the fourth year Facebook is hosting the ad awards, and Adweek... Continue reading at AdWeek
[ AdWeek | 2015-02-04 00:00:00 UTC ]
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Poland's top online bookstore, Merlin.pl, is up for sale, and many believe this is that of consolidation in a saturated Polish online marketplace. The post Poland’s Top Online Bookseller For Sale, Consolidation Looms appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2015-02-03 00:00:00 UTC ]
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Advertisers have been making a lot of noise about viewability and fraud lately. And with good reason -- according to sources like comScore and Google, half of online advertising dollars go to waste due to bots, click fraud and out-of-sight placements. While the costs to advertisers might be... Continue reading at Advertising Age
[ Advertising Age | 2015-02-03 00:00:00 UTC ]
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The Dude goes fully meditative to promote his new sleeping aid album.We already knew about the Jeff Bridges Sleeping Tapes, a collection of relaxing sounds, guided meditations and stories designed to help improve your slumber. The Oscar-winning actor teamed up with website publishing platform... Continue reading at Fast Company
[ Fast Company | 2015-02-02 00:00:00 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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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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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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For the full year, sales increased 20% to $88.99 billion at Amazon, but the company had a net loss in the year of $241 million compared with net income of $274 million in 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 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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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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