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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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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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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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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The US book and journal publishing industry sold $27.01bn of books in 2013, with ebooks hitting... Continue reading at The Bookseller
[ The Bookseller | 2014-06-27 00:00:00 UTC ]
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The Magic Tree in Oak Park, Ill. is for sale. The two owners are looking for "a booklover who has energy and innovative ideas” to buy the 30-year-old children's bookstore. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-27 00:00:00 UTC ]
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Industry sales had a small decline in 2013, falling to $27.01 billion from $27.12 billion in 2012, according to figures released last week by BookStats, the statistics program run by the AAP and BISG. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-27 00:00:00 UTC ]
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Factors like experience played a bigger role, while others like company size took a back seat, but pay is staying consistent for advertising sales directors in publishing. Continue reading at Folio Magazine
[ Folio Magazine | 2014-06-26 00:00:00 UTC ]
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Industry sales were just about flat in 2013, falling by less than 1%, to $27.01 billion, from $27.12 billion in 2012. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-26 00:00:00 UTC ]
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According to S&S, the memoir has been an "instant international bestseller" in all of the territories in which it has been published. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-25 00:00:00 UTC ]
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The CW has finished its upfront sales, making Fox the last man standing in this year's ad sales bazaar. Volume for the network was down slightly (as it has been everywhere but NBCU, this season's first-place finisher), with CPM bumps up between three and four percent, said a source familiar with... Continue reading at AdWeek
[ AdWeek | 2014-06-25 00:00:00 UTC ]
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The magazine industry loves a niche marketplace, especially when it’s new, and the predominantly English-speaking second-generation Hispanic American is certainly that. Continue reading at Folio Magazine
[ Folio Magazine | 2014-06-25 00:00:00 UTC ]
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Back in mid-2012 Hearst launched its private ad exchange, six months after Condé Nast launched its own. At the time, the exchanges were set to offer a buying experience relegated to the publishers' stable of brands. Remnant ads were sold via RTB, but leveraged audience data around the brands... Continue reading at Folio Magazine
[ Folio Magazine | 2014-06-25 00:00:00 UTC ]
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A publishing dinner party in Berlin went glum as six independent publishers learned they would suddenly have a new distributor, a result of Hachette's acquisition of Perseus. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-06-25 00:00:00 UTC ]
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Almost since the death of Perseus Books Group founder Frank Pearl in May 2012, speculation has swirled that the company would be sold. Now, it seems, the rumors have come to fruition, with word leaking that Hachette Book Group has acquired the publisher. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-24 00:00:00 UTC ]
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The chairman of the Osprey Group has confirmed the company is undergoing a “strategic... Continue reading at The Bookseller
[ The Bookseller | 2014-06-20 00:00:00 UTC ]
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Last August, when the media praised celebrity doctor Mehmet Oz for helping to save a British tourist who'd been hit by a cab, Hearst Magazines' multi-million dollar bet on a Dr. Oz magazine seemed like money in the bank.All of that hero talk seemed to be forgotten this week, however, as a Senate... Continue reading at Advertising Age
[ Advertising Age | 2014-06-20 00:00:00 UTC ]
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Publishers looking beyond Facebook and Twitter for social media traffic growth are increasingly finding a compelling alternative in Pinterest. The post Pinterest, a proven traffic driver, is now a customizable ad unit appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2014-06-19 00:00:00 UTC ]
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Hachette UK has restructured its sales operation, creating two sales teams, resulting in the loss of a respected and much-loved director and up to 20 jobs. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-18 00:00:00 UTC ]
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Hillary Clinton’s "Hard Choices" sold 85,721 copies in its first week on sale at outlets that report to Nielsen BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-18 00:00:00 UTC ]
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