Anemic Ad Sales Impact Meredith’s Q3 Earnings

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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Argos sees return to sales growth

Argos returns to sales growth, led by the popularity of tablet computers and ebook readers, says owner Home Retail Group. Continue reading at BBC News

[ BBC News | 2012-09-13 00:00:00 UTC ]
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ReKiosk Tries an Indie Online Sales Model

Aziz Isham did not intend to get into retailing. Instead, ReKiosk, the online storefront he cofounded that started up last week—it currently offers only music and books—came out of conversations he had been having with independent publishers. All of them, he said, expressed frustration over the... Continue reading at Publishers Weekly

[ Publishers Weekly | 2012-09-07 00:00:00 UTC ]
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US sales plunge most in biggest markets

The top US regional book markets have seen print sales drop year on year at a far greater rate... Continue reading at The Bookseller

[ The Bookseller | 2012-09-07 00:00:00 UTC ]
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Flipboard Looks to Elevate Tablet Ads

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[ AdWeek | 2012-09-07 00:00:00 UTC ]
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E L James breaks another sales record

E L James has broken J K Rowling's annual sales record as she begins a sixth month at the... Continue reading at The Bookseller

[ The Bookseller | 2012-09-05 00:00:00 UTC ]
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How French Publishers Are Fighting Back Against Facebook and Google's Display Ad Dominance

The battle to keep online advertising yields and returns high in a market of infinite volume and little scarcity rages on. But some publishers are deciding that it's not their fellow broadcasters, magazines and newspaper who are the problem but t ... Continue reading at Editor & Publisher

[ Editor & Publisher | 2012-09-04 00:00:00 UTC ]
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Sales rise at Profile

Profile has announced a sales hike of 23% for the year to end March 2012, with an operating... Continue reading at The Bookseller

[ The Bookseller | 2012-09-04 00:00:00 UTC ]
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Hachette UK and Commonwealth sees 8% sales drop in first half

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[ The Bookseller | 2012-08-31 00:00:00 UTC ]
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New stock focus boosts HMV book sales

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[ The Bookseller | 2012-08-24 00:00:00 UTC ]
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W H Smith reports high street book sales increase

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[ The Bookseller | 2012-08-23 00:00:00 UTC ]
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Erotica boom affects genre sales

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[ BBC News | 2012-08-22 00:00:00 UTC ]
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