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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Australian publisher APN is putting its South Island newspapers on the block including The Star in Christchurch and the Oamaru Mail. It is also intending to sell the Capital Community Newspaper group in Wellington but is keeping the weekly free Kap ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-11-19 00:00:00 UTC ]
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Sainsbury’s has grown pre-tax profit by 2.5% in its half-year results as the retailer said... Continue reading at The Bookseller
[ The Bookseller | 2012-11-14 00:00:00 UTC ]
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Group sales at W H Smith were down 4% like-for-like in the first 10 weeks of its new financial... Continue reading at The Bookseller
[ The Bookseller | 2012-11-14 00:00:00 UTC ]
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It’s been a year since Steve Jobs passed away, and yet it’s still easy to be reminded of his legacy in the publishing industry. It’s omnipresent in the equipment used to create content, especially the operating system th ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-11-13 00:00:00 UTC ]
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Sales of political statistician Nate Silver's book 'The Signal and the Noise' saw a surge of 850 percent – lifting it to No. 2 on Amazon – after Silver correctly predicted the 2012 election results. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-11-09 00:00:00 UTC ]
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In what could presage a foundational shift in the online advertising landscape, Federated Media Publishing will shut down its direct sales business, i.e. the division charged with selling standard display ads. On Thursday afternoon (Nov. 8) the company began informing employees that it would... Continue reading at AdWeek
[ AdWeek | 2012-11-09 00:00:00 UTC ]
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Hurricane Sandy has blown book sales in New York City and several other US East Coast... Continue reading at The Bookseller
[ The Bookseller | 2012-11-08 00:00:00 UTC ]
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#all-time low
Pearson has denied reports that it is about to sell off the Financial Times, with a spokesperson... Continue reading at The Bookseller
[ The Bookseller | 2012-11-07 00:00:00 UTC ]
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Marie Claire is to debut a near field communications (NFC)-enabled ad in its pages, after striking a deal with healthcare business Nuffield Health. Continue reading at Media Week
[ Media Week | 2012-11-07 00:00:00 UTC ]
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Apple has announced sales of three million units internationally for its latest tablet devices,... Continue reading at The Bookseller
[ The Bookseller | 2012-11-06 00:00:00 UTC ]
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Gannett Publishing Services has entered an agreement with The World Co. to produce print and digital ads for the family-owned Kansas media company through the Gannett Imaging and Ad Design Center, the company announced this week. The Des Moines, Iow ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-11-06 00:00:00 UTC ]
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Barnes & Noble's Nook e-readers, the Nook Simple Touch and Nook Simple Touch GlowLight,... Continue reading at The Bookseller
[ The Bookseller | 2012-10-29 00:00:00 UTC ]
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Barnes & Noble's arrival in the UK has been so well-telegraphed, you might be surprised to learn that today's the day the units actually launch. You'll be able to pick up a Nook Simple Touch or awkwardly-titled Nook Simple Touch with Glowlight from retailers such as John Lewis, Sainsbury's... Continue reading at Engadget
[ Engadget | 2012-10-29 00:00:00 UTC ]
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Ad revenue at The New York Times Co. declined 8.9% in the third quarter from the quarter a year earlier as print ad revenue dropped 10.9% and digital ad revenue slipped 2.2%, the company said today. Circulation revenue, however, increased 7.4% on the strength of growing digital subscriptions and... Continue reading at Crains New York
[ Crains New York | 2012-10-25 00:00:00 UTC ]
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Sales of adult and children’s trade titles rose 13.8% in the first six months of 2012, according to statistics released last week by the Association of American Publishers as part of its StatShot program. Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-10-19 00:00:00 UTC ]
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Sales of hardbacks through Nielsen BookScan's top 5,000 chart jumped 11% week on week last... Continue reading at The Bookseller
[ The Bookseller | 2012-10-16 00:00:00 UTC ]
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In an interview with the BBC, Amazon CEO Jeff Bezos confirmed what many surmised: Amazon is selling the Kindle Paperwhite and Kindle Fire HD at cost. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-10-13 00:00:00 UTC ]
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Spending on printed books in 2012 has passed the £1bn mark, but a fortnight later than last... Continue reading at The Bookseller
[ The Bookseller | 2012-10-12 00:00:00 UTC ]
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Fifty Shades of Grey has sold more than 28 million physical copies around the world, though... Continue reading at The Bookseller
[ The Bookseller | 2012-10-12 00:00:00 UTC ]
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Sharethrough founder and CEO Dan Greenberg is one of the more vocal evangelists of the native advertising talk that has recently bubbled up. While native advertising isn’t an easy sell to media buyers who typically prefer traditional buying methods, the online video advertising startup has grown... Continue reading at AdWeek
[ AdWeek | 2012-10-11 00:00:00 UTC ]
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