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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Quantcast is meshing consumer Web and mobile app behavior with an eye on making real-time ad buying more targeted. Its new data-reporting system, dubbed Audience Interests, is aimed at digital publishers and has recently been tested by BlogAds, the proprietor of highly trafficked... Continue reading at AdWeek
[ AdWeek | 2014-08-06 00:00:00 UTC ]
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Second-quarter advertising revenue at Time Inc., the nation's largest magazine publisher, increased 3% compared to the second quarter of 2013, the company said Tuesday in its first quarterly earnings announcement since spinning off from Time Warner in June. Growth was driven partly by a 12%... Continue reading at Advertising Age
[ Advertising Age | 2014-08-05 00:00:00 UTC ]
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Hachette finance chief plays down effect of Amazon tactics as parent Lagardère reports 1% overall dip in salesThe Hachette publishing group has reported a fall in ebook sales as it continues its battle with Amazon over pricing.The publisher of Ian Rankin and Booker prize nominee Joshua Ferris... Continue reading at The Guardian
[ The Guardian | 2014-08-01 00:00:00 UTC ]
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Four stories by children's author Dr Seuss, including early incarnations of Horton and The Grinch, are to be published 60 years after last being seen. Continue reading at BBC News
[ BBC News | 2014-08-01 00:00:00 UTC ]
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Despite its dispute with Amazon, in the first six months of 2014 Hachette Book Group revenue rose 5.6% over sales in the first half of 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-31 00:00:00 UTC ]
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Hachette Book Group's ebook sales declined in the first half of 2014, and the impact of the... Continue reading at The Bookseller
[ The Bookseller | 2014-07-31 00:00:00 UTC ]
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With Harlequin’s sale to HarperCollins expected to be completed before the end of the week, the publisher reported a decline in sales and earnings in the second quarter of 2014. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-30 00:00:00 UTC ]
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Buoyed by marketers' growing interest in Hispanic millennials as consumers and trendsetters, the Hispanic media market continues to outpace overall growth in the U.S. ad industry. Ad Age's eleventh-annual Hispanic Fact Pack, distributed with the July 28 issue of the magazine, includes... Continue reading at Advertising Age
[ Advertising Age | 2014-07-29 00:00:00 UTC ]
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Self-published author Richard Veitch has been signed by Joanna Swainson at Hardman and Swainson... Continue reading at The Bookseller
[ The Bookseller | 2014-07-28 00:00:00 UTC ]
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Pearson Plc (PSON), the publisher of the Financial Times, said today it will have cut a total of about 4,000 jobs in the two years through 2014 and reported a sales decline of 6.5 percent for the first half. The cuts are equivalent to about 10 perc ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2014-07-25 00:00:00 UTC ]
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Dave Asprey’s "The Bulletproof Diet," a lifestyle title due this December from Rodale Books, is the result of more than 20 years of research. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-25 00:00:00 UTC ]
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While publisher Roger Jänecke of Visible Ink says that the “first thing is sales and the second thing is sales” when considering distributors, it’s clear from speaking with him and other independent presses that the connection between a publisher and its distributor isn’t just a business... Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-25 00:00:00 UTC ]
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Facebook has smashed all estimates in its earnings and revenue report this week, largely thanks to its robust mobile ad business. The results slapped down any niggling doubts among critics about the social network's ability to transform itself from a simple communication website to a... Continue reading at Betanews
[ Betanews | 2014-07-25 00:00:00 UTC ]
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Agencies are pushing for transparency from publishers on all fronts, but viewability has by far become their most pressing priority. GroupM, the biggest digital media buyer in the U.S., announced it would shift its buying from open exchanges to private ones, in a push for greater transparency.... Continue reading at Digiday
[ Digiday | 2014-07-23 00:00:00 UTC ]
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SimpleReach, a company that provides publishers like The New York Times and Forbes with measurement and distribution tools for their native ad programs, has raised $9 million in its first big round of financing, the company said Tuesday. With the new series A funds, SimpleReach plans to invest... Continue reading at Advertising Age
[ Advertising Age | 2014-07-22 00:00:00 UTC ]
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While the rate of sales growth for digital comics has declined, pop culture trade news site ICv2 reports the category is 10x the size of the e-comics market in 2010. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-22 00:00:00 UTC ]
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SimpleReach, a company that provides publishers like The New York Times and Forbes with measurement and distribution tools for their native ad programs, has raised $9 million in its first big round of financing, the company said Tuesday. With the new series A funds, SimpleReach plans to invest... Continue reading at Advertising Age
[ Advertising Age | 2014-07-22 00:00:00 UTC ]
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Consumer ebook sales rose 10% in the first quarter of 2014, according to the Publishers... Continue reading at The Bookseller
[ The Bookseller | 2014-07-21 00:00:00 UTC ]
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As the debate rages over the ethics of native advertising on both sides of the Atlantic, regulators in the U.K. have added more fuel to the fire. A ruling by the U.K.’s Advertising Standards Authority against Outbrain is forcing publisher ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2014-07-18 00:00:00 UTC ]
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Time Inc. has created an eight-person unit to focus on native advertising at the publishing company, led by a staffer from the editorial side, Sports Illustrated Group Creative Director Chris Hercik, and another from the business side, Senior VP-Marketing and Sales Development Priya Narang.Mr.... Continue reading at Advertising Age
[ Advertising Age | 2014-07-17 00:00:00 UTC ]
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