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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Pearson increased sales by 11% to £1.16bn in the first three months of 2012, it announced... Continue reading at The Bookseller
[ The Bookseller | 2012-04-27 00:00:00 UTC ]
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LONDON (Dow Jones)--Pearson PLC (PSON.LN), the publisher of the Financial Times newspaper and Penguin books, Friday produced a healthy rise in first-quarter revenue, but warned profit will be down in the first half of 2012 due to seasonal effects an ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-04-27 00:00:00 UTC ]
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The ebook editions of J K Rowling's Harry Potter series are now available in French, Italian... Continue reading at The Bookseller
[ The Bookseller | 2012-04-24 00:00:00 UTC ]
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WH Smith has reported a 3% rise in group profit year-on-year for the six months to 29th February... Continue reading at The Bookseller
[ The Bookseller | 2012-04-19 00:00:00 UTC ]
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Publishers hoping that digital sales would make up for the decline in physical books are worried. Continue reading at Crains New York
[ Crains New York | 2012-04-15 00:00:00 UTC ]
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Amazon is paying authors $1 for every audiobook they sell if they sign up to its Audible Author... Continue reading at The Bookseller
[ The Bookseller | 2012-04-13 00:00:00 UTC ]
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The Interactive Advertising Bureau is addressing a problem that's plagued tech-centric industries since the first Mac-vs.-Dos argument: standardization. The problem has become acute for Web video, an industry enjoying meteoric growth, and the growing pains that come with that growth. So the IAB... Continue reading at AdWeek
[ AdWeek | 2012-04-11 00:00:00 UTC ]
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With Conde Nast, Hearst and Meredith launching their own digital newsstand in the form of Next Issue Media, it’s clear that magazine publishers are counting on tablets for future growth. Forecasts predicting rapid tablet adoption abound. e ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-04-09 00:00:00 UTC ]
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$1.5 million worth of Harry Potter books sold in Pottermore's first three days online. Continue reading at AllThingsD
[ AllThingsD | 2012-04-05 00:00:00 UTC ]
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Although worldwide sales at Random House fell 4.3% in 2011, the company posted its highest earnings and operating margins in at least five years. EBIT (earnings before interest and taxes) rose 6.9%, to 185 million euros, with an operating margin of 10.6%, a full percentage point higher than... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-03-30 00:00:00 UTC ]
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Hearst Magazines UK has appointed Richard Swan to be its head of advertising operations for its digital business. Continue reading at Media Week
[ Media Week | 2012-03-29 00:00:00 UTC ]
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The Harry Potter ebooks will go on sale exclusively from the Pottermore website from midday... Continue reading at The Bookseller
[ The Bookseller | 2012-03-27 00:00:00 UTC ]
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The "Harry Potter" series, which has conquered mediums from books to movies, is finally available in ebook format. Continue reading at Los Angeles Times
[ Los Angeles Times | 2012-03-27 00:00:00 UTC ]
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By encouraging readers to tackle longer, more sophisticated novels, the queen of daytime TV may have hurt overall fiction sales. Continue reading at The Atlantic
[ The Atlantic | 2012-03-20 00:00:00 UTC ]
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E-bookseller Kobo plans to grow device sales in the UK with a strong marketing push towards the... Continue reading at The Bookseller
[ The Bookseller | 2012-03-15 00:00:00 UTC ]
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This year’s crop of eight £1 World Book Day titles were once again the bestselling... Continue reading at The Bookseller
[ The Bookseller | 2012-03-14 00:00:00 UTC ]
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Book sales soared £1.9m week on week last week, with the children's sector benefitting... Continue reading at The Bookseller
[ The Bookseller | 2012-03-06 00:00:00 UTC ]
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Print book sales were down 13% (£15m) to £98m year-on-year in February, according to... Continue reading at The Bookseller
[ The Bookseller | 2012-03-06 00:00:00 UTC ]
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By Amy Feinstein With the publishing industry changing on what seems like a daily basis, how is it that some publications are actually finding ways to increase their print advertising revenue in the past two years?... Continue reading at Publishing Executive
[ Publishing Executive | 2012-03-02 00:00:00 UTC ]
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The Booksellers Association is in “advanced” talks with two companies over an ebook... Continue reading at The Bookseller
[ The Bookseller | 2012-03-01 00:00:00 UTC ]
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