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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Trade ebook sales rose 4.3% in the first quarter of 2014 to $387.9 million, according to AAP's monthly StatShot report. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-17 00:00:00 UTC ]
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Last week saw £23.4m of book sales registered through Nielsen BookScan; its highest value... Continue reading at The Bookseller
[ The Bookseller | 2014-07-16 00:00:00 UTC ]
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The downward trend of bookstore sales continued in May with sales in the month off 7.5% compared to May 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-15 00:00:00 UTC ]
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After a delay caused by lawsuits questioning the adequacy of the purchase price, the shareholders of Hastings Entertainment have approved the sale of the retailer to companies owned by Joel Weinshanker. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-15 00:00:00 UTC ]
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A survey of nearly 2,500 writers has shown that median income of a working author last year was just £11,000, down by 29% since 2005A new breed of publishing event, a secretive curtain-raiser, designed to tease the book trade and the critics, is to take place somewhere in London on Monday... Continue reading at The Guardian
[ The Guardian | 2014-07-13 00:00:00 UTC ]
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ABC has hired Mike Dean as its new vp, programmatic and data-driven sales, The Wall Street Journal reports. Dean joins the Disney-owned network from ad tech firm Videology, where he was vp, media platform sales and solutions. Before Videology, Dean served as director, publisher services at... Continue reading at AdWeek
[ AdWeek | 2014-07-12 00:00:00 UTC ]
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HarperCollins has launched a redesigned website that features a direct sales component. Through the website the publisher has, for the first time, the ability to sell print books directly to consumers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-08 00:00:00 UTC ]
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HarperCollins has relaunched its US website, with direct to consumer print and ebook sales. The... Continue reading at The Bookseller
[ The Bookseller | 2014-07-08 00:00:00 UTC ]
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In Smashwords' annual survey, CEO Mark Coker says that indie ebooks selling for $2.99-$3.99 earn as much for their authors as conventionally published ebooks selling for $7.99 or more, but generate "triple the readership." Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-08 00:00:00 UTC ]
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Google's private programmatic exchanges can now book premium ad space like mastheads for brands. It is working with ABC to promote the new show Rising Star using an exchange that only places ads in prominent positions, ones that are not typically associated with automated buying. "This exchange... Continue reading at AdWeek
[ AdWeek | 2014-07-07 00:00:00 UTC ]
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The typical income for a professional author in 2013 was just £11,000, more than £5,... Continue reading at The Bookseller
[ The Bookseller | 2014-07-07 00:00:00 UTC ]
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Sales of both hardcovers and trade paperbacks, the industry’s two largest print categories, were up 2% in the first six months of this year, compared to the first half of 2013, leading to an overall 1% gain in print unit sales at outlets that report to Nielsen BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-04 00:00:00 UTC ]
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Ads in tablet editions work pretty much as well as those in print magazines, at least when it comes to recall, according to a study released today by GfK.The research company's MRI Starch Advertising Research unit found ads in tablet versions of magazines had an average 52% level of recall, the... Continue reading at Advertising Age
[ Advertising Age | 2014-07-03 00:00:00 UTC ]
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Viewpoint Books in Columbus, Ind., which was founded in 1973, has been placed on the market by its current owners, Terry and Susan Whittaker. The Whittakers have owned the store since 1979 and want to retire. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-03 00:00:00 UTC ]
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Facebook Inc. bought video advertising company LiveRail to help it target and distribute video ads, AdWeek reported. TechCrunch pegged the price tag between $400 million and $500 million, although the companies haven’t disclosed the terms. LiveRail, based in San Francisco, has created a... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2014-07-03 00:00:00 UTC ]
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Kraft, Nike, Target and Walmart are trialing new video technology that makes ads interactive. In the case of Kraft, a 15-second clip comes with pop-up information on the brand and its products. As the video runs, a click over one of the frames pulls up a pastry recipe or product details for... Continue reading at AdWeek
[ AdWeek | 2014-07-03 00:00:00 UTC ]
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Yes, there's money to be made in mobile advertising. New York-based eMarketer predicts mobile will account for 9.8 percent of the total United States ads marketplace this year, surpassing newspapers (9.3 percent), magazines (8.4 percent) and radio (8.6 percent). Brands are spending 83 percent... Continue reading at AdWeek
[ AdWeek | 2014-07-02 00:00:00 UTC ]
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Facebook's video ad business just got a lot bigger.Months after rolling out the first video-specific ad product on the social network, Facebook has agreed to acquire LiveRail, one of the biggest video ad sellers. A Facebook spokesman declined to comment on the deal's price.LiveRail automates the... Continue reading at Advertising Age
[ Advertising Age | 2014-07-02 00:00:00 UTC ]
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Facebook is buying video ad platform LiveRail and giving it control of a network that powers advertising for high-profile publishers—online and on mobile. LiveRail delivers video ads to websites and apps for Major League Baseball, ABC, A+E Networks and Dailymotion. "LiveRail also helps... Continue reading at AdWeek
[ AdWeek | 2014-07-02 00:00:00 UTC ]
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Brick-and-mortar book stores have clearly been on the decline for a while -- just look at Barnes & Noble's rocky finances. However, there's now some tangible evidence that the pendulum has swung in favor of internet-based sales. BookStats estimates... Continue reading at Engadget
[ Engadget | 2014-06-30 00:00:00 UTC ]
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