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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Nook sales at Barnes & Noble have continued to drop in the first quarter of its new financial... Continue reading at The Bookseller
[ The Bookseller | 2013-08-20 00:00:00 UTC ]
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With sale up in both its education and trade groups, total revenue at Houghton Mifflin Harcourt rose 5% in the second quarter ended June 30, 2013 compared to the second quarter of 2012. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-08-15 00:00:00 UTC ]
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The Web publishing services firm Livefyre has started turning social media content into native advertising for a handful of publishers. Livefyre—which offers publishers social tools like commenting, live blogs and live chats—built Playstation-sponsored social hubs for IGN and AOL's Joystiq... Continue reading at AdWeek
[ AdWeek | 2013-08-15 00:00:00 UTC ]
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With reports showing ebook sales growth is in serious decline, Nicholas Carr examines possible reasons why and wonders if tablets aren't to blame. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-08-09 00:00:00 UTC ]
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Could limiting the period for fixed book prices give a needed boost to backlist sales by allowing retailers to discount after the initial buying frenzy is over? Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-07-31 00:00:00 UTC ]
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Second quarter sales at Simon & Schuster held even at $189 million in the period ended June 30, 2013, while operating income jumped to $20 million from $7 million in last year’s second quarter. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-07-31 00:00:00 UTC ]
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#$189 million
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Intel has shipped its first “open-source PC,” a bare-bones computer aimed at software developers building x86 applications and hobbyists looking to construct their own computer. The PC, called the MinnowBoard (shown above), is basically a motherboard with no casing around it. It was... Continue reading at PC World
[ PC World | 2013-07-31 00:00:00 UTC ]
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#open source
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Challenged by shrinking sales and online piracy, Poland’s publishing industry aims to mitigate losses with more stringent price regulation, reports Jaroslaw Adamowski. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-07-31 00:00:00 UTC ]
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LAS VEGAS, Nevada – July 25, 2013 – Global Ad Distribution, the publishing industry’s leading expert in full service home delivery outsource solutions, is proud to announce it has contracted to utilize the services of My ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-07-29 00:00:00 UTC ]
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Revenues were up for Meredith's National Media Group in its fiscal year 2013 earnings report, as the company saw big returns from digital advertising and continued success with its S Continue reading at Folio Magazine
[ Folio Magazine | 2013-07-26 00:00:00 UTC ]
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Amazon posted a surprise loss of $7m (or £4.56m) in its second quarter, despite achieving a... Continue reading at The Bookseller
[ The Bookseller | 2013-07-26 00:00:00 UTC ]
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Salary trends switched and the gap between b-to-b, consumer and association advertising sales directors shrunk in this year’s survey. Continue reading at Folio Magazine
[ Folio Magazine | 2013-07-26 00:00:00 UTC ]
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Compensation bounced back for advertising sales or regional managers in this year’s survey after falling dramatically in 2012. Continue reading at Folio Magazine
[ Folio Magazine | 2013-07-26 00:00:00 UTC ]
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The definition of magazine advertising sales has changed dramatically in recent years. New products, new competition and new market forces are expanding the role. Print, still an important piece of the puzzle, is just that—a piece. Continue reading at Folio Magazine
[ Folio Magazine | 2013-07-25 00:00:00 UTC ]
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Total revenue at Amazon rose 22% in the second quarter ended June 30, to $15.70 billion, while operating income fell 26%, to $79 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-07-25 00:00:00 UTC ]
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While most people associate Android with text-messages, Google hopes you will think of it in another "text" aspect too -- textbooks. Today, Google announces that it is bringing textbooks to the Play Store. The company has partnered with all five major textbook publishers -- Cengage, Wiley,... Continue reading at Betanews
[ Betanews | 2013-07-25 00:00:00 UTC ]
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Sales of J K Rowling's pseudonymous novel, The Cuckoo's Calling (Little, Brown), rocketed... Continue reading at The Bookseller
[ The Bookseller | 2013-07-23 00:00:00 UTC ]
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The Meredith Corporation is set to launch a print version of its popular Allrecipies.com brand. The magazine is being rolled out as a bi-monthly publication and is slated to debut in August. Continue reading at Folio Magazine
[ Folio Magazine | 2013-07-16 00:00:00 UTC ]
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Print ad pages are down for the eighth-consecutive quarter, but the pace of those losses is slowing down. Continue reading at Folio Magazine
[ Folio Magazine | 2013-07-11 00:00:00 UTC ]
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