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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According to Totally Bound Publishing CEO, Erotic romance continues to boom, particularly as ebooks—and acceptance—have become mainstream. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-01-07 00:00:00 UTC ]
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Sales of printed books fell by £98m last year - down 6.5% on 2012, figures show. Continue reading at BBC News
[ BBC News | 2014-01-06 00:00:00 UTC ]
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With Forbes for sale, Fortune's website divorcing from CNNMoney.com and Bloomberg Businessweek getting assessed as part of a companywide strategic review at Bloomberg, the year ahead could see a dramatic shift for top business magazines.The category offers a glimpse into the publishing world at... Continue reading at Advertising Age
[ Advertising Age | 2014-01-04 00:00:00 UTC ]
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Phil Robertson was temporarily removed from 'Duck Dynasty' after he made controversial comments in an interview. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2014-01-04 00:00:00 UTC ]
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The value of the printed book market fell by £98m in 2013, Nielsen BookScan data reveals.... Continue reading at The Bookseller
[ The Bookseller | 2014-01-03 00:00:00 UTC ]
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Sales of print books through outlets that report to Nielsen BookScan’s retail & club channel fell 2.5%, to 501.6 million units, in 2013, compared to 2012. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-01-03 00:00:00 UTC ]
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Publisher DC Thomson has reported a decline in profits, blamed mainly on losses in its book... Continue reading at The Bookseller
[ The Bookseller | 2014-01-02 00:00:00 UTC ]
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Process at a very early stage and follows owner taking soundings from television rivals including ITVRichard Desmond has appointed Barclays to advise on a possible sale of Channel 5, after turning the loss making Big Brother broadcaster into a profitable operation.The process is understood to be... Continue reading at The Guardian
[ The Guardian | 2014-01-02 00:00:00 UTC ]
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Ad units in magazines' iPad editions climbed 16% in 2013, according to a report out Monday by MPA-The Association of Magazine Media and Kantar Media.The report, which looked at 69 magazines with monitored print and iPad editions, is a hopeful sign for traditional publishers stymied by secular... Continue reading at Advertising Age
[ Advertising Age | 2013-12-30 00:00:00 UTC ]
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Sales of the Duck Dynasty star's book, Happy, Happy, Happy, saw an 86% increase between the weeks ended December 15 and December 22. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-12-30 00:00:00 UTC ]
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The Paris Commercial Court has approved the purchase of 11 of the 52 bookshops in the... Continue reading at The Bookseller
[ The Bookseller | 2013-12-27 00:00:00 UTC ]
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The Bookseller's Digital Census, the annual tracker of how the book business is managing the... Continue reading at The Bookseller
[ The Bookseller | 2013-12-20 00:00:00 UTC ]
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The New York Times is still the gold standard of publishers. Its embrace of native advertising is an important step in legitimizing this modernized version of the advertorial. Importantly, the Times is also looking to impose far more rigid standards that are currently used throughout the... Continue reading at Digiday
[ Digiday | 2013-12-19 00:00:00 UTC ]
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The mobile ad world has become one of haves and have nots. The Wall Street Journal concentrates on the haves, the platforms like Facebook, but the world of publishers isn’t so luckily.The post Reality Check: Mobile Ads Have a Way to Go appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2013-12-19 00:00:00 UTC ]
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Amid a general book market decline, the Polish Chamber of Books (PIK) has drafted a bill which is set to introduce fixed prices for new book releases for 18 months after publication. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-12-18 00:00:00 UTC ]
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A revival in classic illustrated books is helping Poland's children's book market boom, says Katarzyna Domańska of publisher Dwie Siostry. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-12-18 00:00:00 UTC ]
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Daily Mail and Daily Mirror parent companies to get share of weather information business's €190m sale to General AtlanticThe owners of the Daily Mail and Daily Mirror are among a group of publishers sharing a pre-Christmas windfall of £50m, thanks to PA Group's €190m (£126m) sale of its weather... Continue reading at The Guardian
[ The Guardian | 2013-12-16 00:00:00 UTC ]
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Bookstore sales slipped 1% in October, to $799 million, according to preliminary estimates released by the U.S. Census Bureau. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-12-13 00:00:00 UTC ]
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Did Time magazine pick Pope Francis as its Person of the Year because he'll sell more magazines than Edward Snowden? That's what some media outlets and Twitter users suggested Wednesday after the new pontiff beat out Mr. Snowden for the recognition.Business Insider, for instance, wrote:"Snowden,... Continue reading at Crains New York
[ Crains New York | 2013-12-12 00:00:00 UTC ]
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Did Time magazine pick Pope Francis as its Person of the Year because he'll sell more magazines than Edward Snowden? That's what some media outlets and Twitter users suggested Wednesday after the new pontiff beat out Mr. Snowden for the recognition.Business Insider, for instance, wrote:"Snowden,... Continue reading at Advertising Age
[ Advertising Age | 2013-12-12 00:00:00 UTC ]
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