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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Mike Cole thinks brands should be more like Bill Murray. At the Digiday Publishing Summit on Tuesday, the reddit sales exec urged brands to be flexible and not pass up opportunities to "be awesome." Cole, who believes the legendary comedian can teach brands a thing or two about responding in... Continue reading at Digiday
[ Digiday | 2013-10-23 00:00:00 UTC ]
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Publishers still aren't sure how to measure the effectiveness of native ads. Some say pageviews are the answer. Others say the proof is in engagement. At the Digiday Publishing Summit this week, we asked several publishers how they quantify the success of native ads at their publications. Here’s... Continue reading at Digiday
[ Digiday | 2013-10-23 00:00:00 UTC ]
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UBM posted marginal revenue gains through the third quarter after a slow first half to the year. Continue reading at Folio Magazine
[ Folio Magazine | 2013-10-23 00:00:00 UTC ]
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When Vice first appeared on Ad Age's Magazine A-List in 2010, it raised more than few eyebrows among industry stalwarts. For one thing, it was the first free-distribution magazine Ad Age had ever honored. And another thing—OK, the main thing—Vice is a cheerfully irreverent, quasi-rude... Continue reading at Crains New York
[ Crains New York | 2013-10-22 00:00:00 UTC ]
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When Conde Nast closed Gourmet in 2009, the company staked much of its epicurean business on Bon Appetit, a staid magazine with a big circulation but little traction outside the food category. But soon enough Conde Nast took another risk, assigning the title's reinvigoration to a pair of leaders... Continue reading at Advertising Age
[ Advertising Age | 2013-10-21 00:00:00 UTC ]
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When Vice first appeared on Ad Age's Magazine A-List in 2010, it raised more than few eyebrows among industry stalwarts. For one thing, it was the first free-distribution magazine Ad Age had ever honored. And another thing -- OK, the main thing -- Vice is a cheerfully irreverent, quasi-rude... Continue reading at Advertising Age
[ Advertising Age | 2013-10-21 00:00:00 UTC ]
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Responding to growing Washington attacks on data brokers, the Direct Marketing Association is mounting its biggest defense by unveiling a new study Monday during its annual conference in Chicago. The study quantifies how much of the economy is driven by companies that use consumer-level data to... Continue reading at AdWeek
[ AdWeek | 2013-10-14 00:00:00 UTC ]
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The refurbished Waterstones stores are seeing overall sales growth of between 5%–10%, m.d.... Continue reading at The Bookseller
[ The Bookseller | 2013-10-14 00:00:00 UTC ]
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First day sales in the UK for Bridget Jones: Mad About the Boy by Helen Fielding topped 46,000... Continue reading at The Bookseller
[ The Bookseller | 2013-10-14 00:00:00 UTC ]
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When Forbes rolled out AdVoice in 2010, the architects planned to blow up the traditional publishing-advertising model. Instead of offering companies just online banner ads, Forbes was giving advertisers the ability to publish their stories directly to the magazine's website.It was a gamble that... Continue reading at Advertising Age
[ Advertising Age | 2013-10-11 00:00:00 UTC ]
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Instagram just made it official: ads are about to hit the social photo-sharing platform. "In the next couple months, you may begin seeing an occasional ad in your Instagram feed if you’re in the United States," the company said in a blog post today. "Seeing photos and videos from brands you... Continue reading at AdWeek
[ AdWeek | 2013-10-04 00:00:00 UTC ]
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BtoB Magazine is shutting down its print product and will become part of sister publication, Advertising Age, by January 1, in a move that likely reflects sustained pressure on print advertising in the med Continue reading at Folio Magazine
[ Folio Magazine | 2013-10-03 00:00:00 UTC ]
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Ads for mobile apps are frequently ineffective after the first viewing -- once users install a given app, they rarely have incentives to try the software again. Facebook may have found a way to sustain customers' interest through its new deep linking ad format, however. The approach takes... Continue reading at Engadget
[ Engadget | 2013-10-02 00:00:00 UTC ]
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Tomorrow was supposed to the day BlackBerry held a conference call and webcast to discuss its Q2 earnings, but the company has now cancelled this. Complete second quarter financial results will still be released tomorrow (Friday, 27 September) at 7:00am ET, but there will now be no public... Continue reading at Betanews
[ Betanews | 2013-09-26 00:00:00 UTC ]
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Since so many consumers hop from smartphone to desktop to tablet and back again multiple times a day, Web publishers have rushed to embrace responsive design: a technology that automatically resizes content to fit any screen. The responsive movement has been a win for users, who increasingly... Continue reading at AdWeek
[ AdWeek | 2013-09-25 00:00:00 UTC ]
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A discussion with nine experts from Frankfurt Academy's CONTEC 2013 interactive learning lab on self-publishing's implications for the industry. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-09-24 00:00:00 UTC ]
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Gains in its educational technology group were not enough to offset declines in the children’s book publishing and distribution unit resulting in a 5.8% decline in total sales at Scholastic for the first quarter ended August 31. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-09-19 00:00:00 UTC ]
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According to AAP’s monthly StatShot report, adult ebooks rose only 4.8% in the first six months of 2013 compared to the same period in 2012, hitting $647.7 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-09-19 00:00:00 UTC ]
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The value of the printed book market rose for a third consecutive week last week. It was helped... Continue reading at The Bookseller
[ The Bookseller | 2013-09-17 00:00:00 UTC ]
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Superstar chef Jamie Oliver's new cookbook, Save with Jamie (Michael Joseph), was comfortably... Continue reading at The Bookseller
[ The Bookseller | 2013-09-10 00:00:00 UTC ]
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