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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Ingram Content Group has partnered with Microgroove, a Seattle software developer, to provide digital tools to give businesses with mobile e-commerce applications the ability to sell physical books. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-09-09 00:00:00 UTC ]
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Revenue at Barnes & Noble fell 7% in the first quarter ended August 2, to $1.23 billion, but the retailer cut its net loss to $28.4 million from $87.0 million in the first period of fiscal 2014. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-09-09 00:00:00 UTC ]
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New books in a big religion publishing month include offerings from Joel Osteen, Sam Harris, and Joyce Meyer. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-26 00:00:00 UTC ]
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Ellora’s Cave CEO Patty Marks confirmed the house is downsizing in the wake of what she described as "drastic" and unexplained declines in its ebook sales via Amazon. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-25 00:00:00 UTC ]
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Yahoo is bringing its native ads to other publishers' sites.Last year Yahoo adopted the low-hanging-fruit version of native advertising, a form of ad that aims to mirror surrounding editorial content. Unlike BuzzFeed's sponsored listicles or The New York Times' brand-penned posts, Yahoo's native... Continue reading at Advertising Age
[ Advertising Age | 2014-08-25 00:00:00 UTC ]
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Popular Scandinavian authors including Jo Nesbø and Stieg Larsson drive growing domestic demand for translated booksBritish readers are devouring foreign fiction in record numbers amid a mini-boom in translated novels, inspired by the success of Scandinavian authors such as Jo Nesbø.Among a... Continue reading at The Guardian
[ The Guardian | 2014-08-24 00:00:00 UTC ]
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In a letter to her authors, Ellora’s Cave CEO Patty Marks blames the cuts on unexplained declines in ebook sales through Amazon. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-22 00:00:00 UTC ]
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Based out of London, Ben Wright, formerly of PRH, will oversee the new publisher's new group international sales division. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-20 00:00:00 UTC ]
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The director of digital sales and channel development at Penguin Random House is to join Hachette... Continue reading at The Bookseller
[ The Bookseller | 2014-08-20 00:00:00 UTC ]
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About 25% of the sales of a Holt memoir by a debut author have been in Iowa's bookstores, due to the heroic efforts of a Decorah bookseller Kate Rattenborg. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-19 00:00:00 UTC ]
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Cambridge University Press has reported a sales increase of 5% at constant currency rates in the... Continue reading at The Bookseller
[ The Bookseller | 2014-08-19 00:00:00 UTC ]
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"I'm sorry. Our intentions were good."Ethan Zuckerman, the current director of the MIT Center for Civic Media, recently published a heck of an essay in the Atlantic called "The Internet's Original Sin." In it, he deconstructs the good (or at least neutral!) intentions, that turned the Internet... Continue reading at Fast Company
[ Fast Company | 2014-08-15 00:00:00 UTC ]
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Sales of the hundreds of paid-for weekly and monthly titles fell 4.4% compared with previous six months, according to latest healthcheck Continue reading... Continue reading at The Guardian
[ The Guardian | 2014-08-15 00:00:00 UTC ]
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Title trails last in music magazine sector, selling fewer than 15,000 copies in first half of year Continue reading... Continue reading at The Guardian
[ The Guardian | 2014-08-14 00:00:00 UTC ]
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Mobile may be next frontier for publishing, but readers have migrated to the platform faster than advertisers—that gap could be closing though. Global mobile advertising revenue nearly doubled in 2013, totaling $19.3 billion, according to a report from the Intera Continue reading at Folio Magazine
[ Folio Magazine | 2014-08-14 00:00:00 UTC ]
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The days of electronics repair are over! Plus, Microsoft's aggressive Surface ads, the true value of an ebook, and a visit to the land of Chromebooks. With guests Jason Cross and Melissa Riofrio. Continue reading at PC World
[ PC World | 2014-08-14 00:00:00 UTC ]
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An eight-question online quiz helped People StyleWatch publish its largest September issue ever this year in terms of ad pages and revenue. But it might also confuse readers about what's advertising and what's editorial.The quiz, "Meet Your Celeb Style Twin," asks readers eight questions about... Continue reading at Advertising Age
[ Advertising Age | 2014-08-14 00:00:00 UTC ]
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Hearst says October edition will be final print issue, adding that it was too soon to say whether jobs would be affectedCompany magazine, the monthly Hearst UK glossy aimed at younger women, will cease print publication after 36 years in September and go online-only.Hearst announced on Wednesday... Continue reading at The Guardian
[ The Guardian | 2014-08-13 00:00:00 UTC ]
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Magazines have been more fragrant than usual this year. During the first six months of 2014, magazines ran 17 more perfume and cologne ads with scent strips than they did a year earlier, good for a 10% increase, according to a report from analytics firm MediaRadar.The report, which looked at 177... Continue reading at Advertising Age
[ Advertising Age | 2014-08-13 00:00:00 UTC ]
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Bookstore sales for the first six months of 2014 were down 7.9% compared to the same period last year, according to preliminary estimates from the U.S. Census Bureau. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-13 00:00:00 UTC ]
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