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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The Office for National Statistics (ONS) has added ebooks to the basket of goods and services... Continue reading at The Bookseller
[ The Bookseller | 2013-03-12 00:00:00 UTC ]
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Nielsen Holdings NV has hired an investment bank to explore a sale of its tradeshow and event wing, Nielsen Expositions, multiple sources are reporting. Nielsen Expositions President David Loechner declined comment. Continue reading at Folio Magazine
[ Folio Magazine | 2013-03-11 00:00:00 UTC ]
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FRANKFURT, March 6 (Reuters) - German publisher Axel Springer on Wednesday forecast a drop in profitability in 2013, expecting investments in its digital business and restructuring efforts in its declining printing business to weigh on results. The ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-03-08 00:00:00 UTC ]
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The ebook is still central to B&N's strategy, but it's not selling. Barnes & Noble revealed disappointing third quarter finances this morning, including a serious decline in revenues from its Nook digital e-readers. Overall revenues were $2.2 billion, down 8.8% year on year, and its... Continue reading at Fast Company
[ Fast Company | 2013-02-28 00:00:00 UTC ]
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Tribune Co. has hired investment bankers to advise the media company on the sale of its newspaper publishing unit, according to a source familiar with the matter. Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-02-27 00:00:00 UTC ]
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Sales of books for children surged in the UK last week, as schools broke for the spring half-term... Continue reading at The Bookseller
[ The Bookseller | 2013-02-26 00:00:00 UTC ]
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At a time when many independent booksellers both here and abroad are beginning to gain traction selling Kobo ebooks, other retailers are eyeing the secondary market for ebooks and other digital content. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-02-16 00:00:00 UTC ]
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Preliminary estimates from the Census Bureau show that US bookstores as a whole experienced a 0.5 percent decrease in sales for the year of 2012. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-02-14 00:00:00 UTC ]
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Jeff Bewkes and company used to insist they wanted to hang on to their magazine business. They stopped saying that in September. Continue reading at AllThingsD
[ AllThingsD | 2013-02-14 00:00:00 UTC ]
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Time Warner Inc. said Wednesday that net income grew 51% in the last three months of 2012 even as revenue was largely unchanged. Rising fees from cable and satellite companies and higher ad revenue at the TV networks offset revenue declines at its movie studio and magazine businesses.Net income... Continue reading at Crains New York
[ Crains New York | 2013-02-06 00:00:00 UTC ]
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Mimi Spencer and Michael Mosley's intermittent fasting guide, The Fast Diet, was comfortably... Continue reading at The Bookseller
[ The Bookseller | 2013-02-05 00:00:00 UTC ]
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Cambridge University Press has completed the sale of its U.S. warehouse and distribution facility in West Nyack, N.Y. CUP announced plans to sell the warehouse as part of a strategic process that included an agreement last summer with Ingram Publisher Services to have Ingram manage the... Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-02-04 00:00:00 UTC ]
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#distribution facility
Amazon saw record sales growth of 22% to $21bn (£13bn) over the Christmas period, with the... Continue reading at The Bookseller
[ The Bookseller | 2013-01-30 00:00:00 UTC ]
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Whatever Kindle sales were in Q4, they could have been better had Amazon not sold out of its flagship e-reader. Continue reading at AllThingsD
[ AllThingsD | 2013-01-30 00:00:00 UTC ]
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#kindle sales
The Verge has started offering advertisers like Ford pre-roll video ads. But in this case, Ford doesn't need its agency, as The Verge produced these Web video spots, using its own technology and editorial staff. Indeed, the tech-centric publication is looking to take native advertising to... Continue reading at AdWeek
[ AdWeek | 2013-01-24 00:00:00 UTC ]
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Apple sold a "record" 22.9 million iPads during its last quarter but failed to meet... Continue reading at The Bookseller
[ The Bookseller | 2013-01-24 00:00:00 UTC ]
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In the face of stagnant growth in traditional advertising, digital publishers are looking to sponsored content as an alternative route, something Buzzfeed has been doing well, and The Atlantic has been doing less well recently. It's an approach ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-01-23 00:00:00 UTC ]
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#traditional advertising
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Book sales at WH Smith have dropped 6% like-for-like across the high street and travel divisions... Continue reading at The Bookseller
[ The Bookseller | 2013-01-23 00:00:00 UTC ]
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Sales of printed books plummeted with the mercury last week, with data from book sales monitors... Continue reading at The Bookseller
[ The Bookseller | 2013-01-22 00:00:00 UTC ]
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Newspaper and magazine publishing company Advance Publications Inc. has acquired Seattle-based digital advertising agency Pop, the companies announced this week. Pop will operate as an independent division of Advance Publications. Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-01-18 00:00:00 UTC ]
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