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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BuzzFeed is famous for it, Facebook and Twitter embraced it, and The Atlantic got blasted for it. Native advertising may be all the rage, but if brands and publishers aren’t careful, it could trigger some regulatory repercussions, analysts ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-07-11 00:00:00 UTC ]
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#native advertising
Amazon.com's Kindle e-reader has dominated the competition in Japan since its launch last year, according to new research, showing the company's low pricing and powerful brand may have overcome its late entrance into the market. The Kindle accounted for 38.3 percent of the e-reader market in... Continue reading at PC World
[ PC World | 2013-07-02 00:00:00 UTC ]
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#officially launched
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By Samir "Mr. Magazine" Husni David Carey, president of Hearst Magazines, believes that people crave "spontaneous combustion" from their media purchases. "We live in this on-demand world," Carey elaborates.... Continue reading at Publishing Executive
[ Publishing Executive | 2013-07-02 00:00:00 UTC ]
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#hearst magazines
#david carey
#on-demand world
Hachette UK's digital sales were £50m in 2012, its chief executive Tim Hely Hutchinson... Continue reading at The Bookseller
[ The Bookseller | 2013-06-28 00:00:00 UTC ]
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#digital sales
US bookstore chain Barnes & Noble sees its fourth-quarter net loss more than double to $118.6m (£77m) as sales of its Nook ebooks and devices drop. Continue reading at BBC News
[ BBC News | 2013-06-25 00:00:00 UTC ]
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#nook ebooks
A highly publicized racism scandal has already cost celebrity chef Paula Deen her Food Network contract. Will readers still buy her cookbooks? Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-06-25 00:00:00 UTC ]
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A tough start to 2013 in many parts of the country, with record snows, torrential rains, and tornadoes, plus the bombing in Boston, has made for a quiet year to date for many bookstores, according to PW’s survey of dozens of independents around the country. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-06-22 00:00:00 UTC ]
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#torrential rains
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Sales of books jumped to a 2013 high last week, boosted by Father's Day, according to figures obtained by the book trade website, The Bookseller. Continue reading at BBC News
[ BBC News | 2013-06-19 00:00:00 UTC ]
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The parent company of science, business and media publisher Springer has sold its majority stake... Continue reading at The Bookseller
[ The Bookseller | 2013-06-19 00:00:00 UTC ]
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#majority stake
Quercus has brought home and export sales in-house, after eight years with the... Continue reading at The Bookseller
[ The Bookseller | 2013-06-18 00:00:00 UTC ]
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Sales of Dan Brown's Inferno (Bantam Press) rocketed 48% week on week last week, sending the... Continue reading at The Bookseller
[ The Bookseller | 2013-06-18 00:00:00 UTC ]
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#dan brown
Granta sales and marketing director Brigid Macleod and sales manager Sharon Murphy are leaving... Continue reading at The Bookseller
[ The Bookseller | 2013-06-17 00:00:00 UTC ]
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Augmented reality plays are usually rolled out one title at a time, but Meredith has launched the enhanced execution across its entire Parents Network, linking them with a single app. Continue reading at Folio Magazine
[ Folio Magazine | 2013-06-14 00:00:00 UTC ]
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#single app
Richard Mollet, chief executive of The Publishers Association, has welcomed the "clarity... Continue reading at The Bookseller
[ The Bookseller | 2013-06-14 00:00:00 UTC ]
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#digital content
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WH Smith has reported a total like-for-like sales decrease of 5% in the last quarter but said its... Continue reading at The Bookseller
[ The Bookseller | 2013-06-13 00:00:00 UTC ]
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'1984' book sales are rising after the Edward Snowden revelations about NSA spying. The topic of 'Big Brother' watching has spurred the sales of George Orwell's "1984" and Aldous Huxley's "Brave New World." Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-06-13 00:00:00 UTC ]
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A new survey in Japan shows that Amazon's Kindle is leading the market for ebook sales, with Apple (launched in March) second, followed by Kinokuniya's Kinoppy, Sony's Reader Store and Kobo. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-06-13 00:00:00 UTC ]
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Reader's Digest Association has long maintained a strong display ad presence, but the group is now turning its focus to video sales. Continue reading at Folio Magazine
[ Folio Magazine | 2013-06-12 00:00:00 UTC ]
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Self-published titles make up 12% of all ebook sales, according to new findings from Bowker... Continue reading at The Bookseller
[ The Bookseller | 2013-06-07 00:00:00 UTC ]
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Porter Square Books in Cambridge, Mass. was one of two booksellers given permission by Gaiman to pre-sell signed copies of his forthcoming book 'The Ocean at the End of the Lane.' 'We’ve never sold that many copies of any book in any place I’ve ever worked,' said the store's co-owner. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-05-30 00:00:00 UTC ]
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#neil gaiman