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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Independent publisher Nosy Crow has published a picture book based on the John Lewis Christmas advertisement for the third time. Monty’s Christmas is a rhyming hardback picture book that tells the story of the advert, in which a young boy finds his a soulmate for his penguin. The advert... Continue reading at The Bookseller
[ The Bookseller | 2014-11-07 00:00:00 UTC ]
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Twenty years ago last month, a team of well-meaning designers, coders and magazine publishers inadvertently unleashed on an unsuspecting world one of the most misguided and destructive technologies of the Internet age: the web banner ad. If th ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2014-11-06 00:00:00 UTC ]
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The company reported that third quarter revenue for the period ended September 30, 2014, rose to $54.5 million, from $54.2 million in the comparable quarter in 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-11-04 00:00:00 UTC ]
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French trade publication Livres Hebdo has scrapped its monthly distance print book sales barometer, which measured online and mail order sales, as an indirect result of Amazon’s refusal to provide any of its data to market research agencies. This refusal prompted Fnac, the largest cultural... Continue reading at The Bookseller
[ The Bookseller | 2014-11-04 00:00:00 UTC ]
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Penguin Random House UK has announced a proposed restructure of its international sales with Dean Chance heading up the export team and Rob Waddington in charge of the group team. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-11-04 00:00:00 UTC ]
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Cheltenham Literature Festival had a “record-breaking” 2014, with almost 140,000 tickets sold, up 7% from the year before. People from all bar three UK postcodes attended the festival, and both Saturdays of the 10-day event saw more than 20,000 in attendance. Meanwhile Waterstones, the... Continue reading at The Bookseller
[ The Bookseller | 2014-11-01 00:00:00 UTC ]
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Stephen Lacy was named chairman of the board of directors for the MPA—The Association of Magazine Media on Wednesday. Lacy, chairman and CEO of Meredith Corp., takes over for Michael Clinton, president and director of marketing and publishing for Hearst Magazines, who'd served Continue reading at Folio Magazine
[ Folio Magazine | 2014-10-31 00:00:00 UTC ]
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An industry panel on Amazon and its business tactics elicited a range of often contradictory responses. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-30 00:00:00 UTC ]
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Over the past two years Blurb has transitioned from small-scale custom publishing to a high-end, full service self-publishing operation. The post The Evolution of Blurb: Adding Distribution and Experts appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-10-30 00:00:00 UTC ]
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Sales bumps after books are adapted as movies or TV shows are nothing new, but 'Gone Girl' author Flynn and 'Outlander' writer Gabaldon are seeing their older books reappear and hold steady on bestseller lists as well. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2014-10-30 00:00:00 UTC ]
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The dismantling of German retailing group Douglas by its American owners Advent International is gathering pace, and with it speculation that a sale of the Douglas-owned book chain Thalia is imminent, possibly even this year. The largest brick-and-mortar bookseller in the German-speaking... Continue reading at The Bookseller
[ The Bookseller | 2014-10-29 00:00:00 UTC ]
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Sales of adult books were down 2.2% in the first seven months of 2014, while the children's segment seems headed for a banner year with sales up 25.8% through July. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-28 00:00:00 UTC ]
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The much-maligned and little-clicked banner ad is 20 years old. We talk with its creators about the glory days of online ad innovation.Contrary to lore, there was no "first" banner ad. When HotWired, Wired magazine's digital arm, launched 20 years ago, it did so with not one, but many, banner... Continue reading at Fast Company
[ Fast Company | 2014-10-27 00:00:00 UTC ]
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Pearson has reported sales level in underlying terms for the first nine months of 2014, with Penguin Random House performing "well" in the third quarter. Meanwhile chief financial officer Robin Freestone is to stand down after eight years in his role, the company said. Continue reading at The Bookseller
[ The Bookseller | 2014-10-25 00:00:00 UTC ]
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Just weeks after the Financial Times said it would begin selling digital ads based on the time for which they're exposed to readers, a new survey shows other digital publishers are growing bullish about the tactic. The survey, from Digital Content Next, found that 80% of "premium" publishers are... Continue reading at Advertising Age
[ Advertising Age | 2014-10-23 00:00:00 UTC ]
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Google and Facebook continued to pour millions of dollars into federal political lobbying in the third quarter in attempts to influence U.S. lawmakers and have legislation written in their favor.Google spent US$3.94 million between July and September while Facebook spent $2.45 million, according... Continue reading at PC World
[ PC World | 2014-10-22 00:00:00 UTC ]
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Coming in November: new books from Deepak Chopra, James Carroll, and John Maxwell. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-21 00:00:00 UTC ]
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Amazon just found a way to put further pressure on Hachette in its ongoing pricing war: strike a deal with another publisher. The online retailer has forged a new agreement with Simon & Schuster that will keep the book giant's digital and physical... Continue reading at Engadget
[ Engadget | 2014-10-21 00:00:00 UTC ]
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Advertising Age today named Simon Dumenco its editorial director in charge of all editorial strategy and operations for its brands, including Ad Age, Creativity and Internet Week.Mr. Dumenco, a longtime Ad Age columnist and editor at large, takes on the role as Associate Publisher Abbey Klaassen... Continue reading at Advertising Age
[ Advertising Age | 2014-10-20 00:00:00 UTC ]
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WH Smith has reported a 9% rise in pre-tax profits for the year but said books sales continue to be “challenging”. Continue reading at The Bookseller
[ The Bookseller | 2014-10-17 00:00:00 UTC ]
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