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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Printed book sales soared by 10% (£6.9m) week-on-week during the week before Christmas Day... Continue reading at The Bookseller
[ The Bookseller | 2011-12-30 00:00:00 UTC ]
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Printed book sales soared by £8.6m week on week last week, but spending remains down on... Continue reading at The Bookseller
[ The Bookseller | 2011-12-13 00:00:00 UTC ]
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Constable & Robinson has grown turnover by 16% to £7.46m for the nine months to 31st... Continue reading at The Bookseller
[ The Bookseller | 2011-12-12 00:00:00 UTC ]
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Amazon.co.uk has announced its New Year discounting already, launching what it calls "... Continue reading at The Bookseller
[ The Bookseller | 2011-12-12 00:00:00 UTC ]
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In a major magazine publisher first, Condé Nast launched a private advertising exchange for select digital clientele. Partnering with service provider AdMeld, inventory from Condés entire digital portfolio was available at the time of the exchanges launch. Continue reading at Folio Magazine
[ Folio Magazine | 2011-12-08 00:00:00 UTC ]
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Sales and profit have fallen in the last year at book wholesaler Gardners but the company said it... Continue reading at The Bookseller
[ The Bookseller | 2011-12-08 00:00:00 UTC ]
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Printed book sales soared by £8.8m week-on-week last week, with the latest edition of... Continue reading at The Bookseller
[ The Bookseller | 2011-12-06 00:00:00 UTC ]
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The European Commission has announced it has opened formal antitrust proceedings to investigate... Continue reading at The Bookseller
[ The Bookseller | 2011-12-06 00:00:00 UTC ]
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The British Retail Consortium has labelled November sales growth "the worst for six months... Continue reading at The Bookseller
[ The Bookseller | 2011-12-06 00:00:00 UTC ]
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While publishers have been reorganizing their sales forces for years, the shifting marketplaceone without Borders and with a lot fewer print booksis forcing publishers to rethink more than ever how they sell. Hachette Book Groups elimination of 11 sales rep positions earlier this fall sent... Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-12-02 00:00:00 UTC ]
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Sales of cheaply priced classics are surging, with publisher Wordsworth Editions seeing sales of... Continue reading at The Bookseller
[ The Bookseller | 2011-12-02 00:00:00 UTC ]
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Four regional sales managers have left the Hodder & Stoughton and Headline Publishing Group... Continue reading at The Bookseller
[ The Bookseller | 2011-11-30 00:00:00 UTC ]
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Founded in Cleveland 16 years ago in Joe Biels bedroom, Microcosm Publishing is a self-empowerment and alternative culture publisher and distributor in Portland, Ore., and Lansing, Kansas. Originally a distributor of zines and records, Microcosm has grown into a company with a knack for... Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-11-25 00:00:00 UTC ]
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The Guardian has put its PaidContent website up for sale with a price tag of $20m (£12.7m), three years after it bought the New York-based digital publishing and events business. Continue reading at Media Week
[ Media Week | 2011-11-22 00:00:00 UTC ]
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The wide world of publishing is changing; everyone will tell you that. But if you ask what about publishing is changing, youll likely hear about the decline of physical books or the growth of digital books. And while the loss of bookstores and the latest, lightest e-reader make for compelling... Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-11-18 00:00:00 UTC ]
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Martini Media, which serves a network of 1,000 publisher sites in lifestyle and business, is launching a series of multimedia advertising programs including bringing rich media to niche sites. Continue reading at Folio Magazine
[ Folio Magazine | 2011-11-17 00:00:00 UTC ]
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Adweek has partnered with Toronto-based technology company Shiny Ads to create the new Adweek Self-Serve Ad platform. The service now lets anyone upload a 300 x 250 banner ad and secure a set number of impressions for as little as $500. This will allow marketers with any size budget to speak... Continue reading at AdWeek
[ AdWeek | 2011-11-15 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Thu, 10/11/2011 - 09:44 Total group sales at W H Smith have dropped by 3% in the last 10 weeks, with like-for-like sales down by 6% in comparison to last year. This morning (10th November) the company reported in its interim financial results for the... Continue reading at The Bookseller
[ The Bookseller | 2011-11-10 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Tue, 08/11/2011 - 10:15 Lagardère Publishing has reported a net sale decrease of 2.5% on a like-for-like basis in its third quarter, attributing the drop to weaker sales in English-speaking countries and the "impact of ebooks". read more Continue reading at The Bookseller
[ The Bookseller | 2011-11-08 00:00:00 UTC ]
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