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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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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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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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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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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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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Hearst Magazines is the latest publisher to join the native ad gold rush, with new products that will let advertisers run their messages into editorial real estate and, if desired, incorporate edit-produced content. The five new units, now being ro ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-05-28 00:00:00 UTC ]
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When The Huffington Post’s weekly iPad magazine Huffington transitioned from a pay model to free last August, advertising was intended to sustain the tablet-native title, as consumers had resisted paying for it. Almost a year postlaunch, it looks like advertisers are rejecting it, too. A... Continue reading at AdWeek
[ AdWeek | 2013-05-27 00:00:00 UTC ]
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Dan Brown's hotly anticipated Inferno (Bantam Press) has become one of the fastest-selling... Continue reading at The Bookseller
[ The Bookseller | 2013-05-21 00:00:00 UTC ]
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The Argentine government’s economic protectionism is thwarting the growth of ebook sales,... Continue reading at The Bookseller
[ The Bookseller | 2013-05-20 00:00:00 UTC ]
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The number of ebooks sold last year grew by 43 percent, but that's a fairly small increase compared to the triple-digit increases of past years. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-05-16 00:00:00 UTC ]
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Supermarkets, Amazon and Waterstones have hailed successful first day sales of Dan Brown's... Continue reading at The Bookseller
[ The Bookseller | 2013-05-15 00:00:00 UTC ]
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Harlequin parent company Torstar has announced restructuring in its book publishing and general... Continue reading at The Bookseller
[ The Bookseller | 2013-05-09 00:00:00 UTC ]
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Barnes & Noble knows it's not winning the tablet race by any margin, but the book retailer is hoping for a big boost for Mother's Day. Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-05-07 00:00:00 UTC ]
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