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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Written By: Lisa Campbell Publication Date: Tue, 08/11/2011 - 10:19 UK retail sale values sank 0.6% in October compared to last year, with the British Retail Consortium warning sales were "worryingly weak" in the approach to Christmas. In October last year, sales values had risen by 0.8%. On a... Continue reading at The Bookseller
[ The Bookseller | 2011-11-08 00:00:00 UTC ]
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One of the new print ads running for Ivory in select magazines in November and December. The brand also has a Facebook page. Continue reading at The New York Times
[ The New York Times | 2011-11-08 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Thu, 03/11/2011 - 09:55 Penguin's ebook sales have more than doubled in the first nine months of 2011, as parent Pearson reported an increase in total sales of 3% and operating profit of 13%. Total sales at Penguin for the nine months to 30th... Continue reading at The Bookseller
[ The Bookseller | 2011-11-03 00:00:00 UTC ]
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Written By: Philip Stone Publication Date: Thu, 03/11/2011 - 09:57 Printed book sales in October slumped 8% year-on-year, due largely to poor sales within the paperback fiction and biographies/memoirs sectors, Nielsen BookScan data has revealed. In total, £144.7m was spent on physical books in... Continue reading at The Bookseller
[ The Bookseller | 2011-11-03 00:00:00 UTC ]
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Adobe is buying Auditude, an online video ad-platform. The deal lets Adobe monetize its video publishing tools, according to ZDNet, by integrating Auditudes ad server with its digital marketing. The deal is the latest move into web advertising from Adobe, which was previously known for its... Continue reading at AdWeek
[ AdWeek | 2011-11-02 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Tue, 01/11/2011 - 09:40 Sales and profit for 2011 have slumped at Edinburgh University Press at the same time the company has reported a 40% rise in year-on-year ebook sales. The Scottish academic publisher has reported an 11.6% fall in sales and... Continue reading at The Bookseller
[ The Bookseller | 2011-11-01 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Thu, 27/10/2011 - 09:41 E-book sales and the acquisition of Continuum helped sales at Bloomsbury leap 16%, although relocation and restructuring costs led to pre-tax profit more than halving to £0.3m, in its latest set of financial accounts.... Continue reading at The Bookseller
[ The Bookseller | 2011-10-27 00:00:00 UTC ]
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After a mainly flat first half for ad pages in 2011, big publishers are seeing ad page numbers fall in the third quarter. According to data from MagazineRadar, Meredith Corp.s magazine portfolio saw the biggest fall out of the big consumer publishers, down 11 percent in Q3. Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-27 00:00:00 UTC ]
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This story first appears on FOLIO: sister site, minonline. Meredith Corp. chairman/CEO (since July 2004) Steve Lacy announced that the board of directors approved a $1.02-to-$1.53 per-share increase in the quarterly dividend paid to investors and authorized the repurchase of $100 million of... Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-27 00:00:00 UTC ]
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Darren Singh, advertising director for Hearst's Esquire magazine, has been appointed publisher of ShortList. Continue reading at Media Week
[ Media Week | 2011-10-25 00:00:00 UTC ]
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The first stage of Hearst Magazines UK's commercial restructure marks a move towards creating more joined-up brands, group commercial director Matt Salmon has claimed. Continue reading at Media Week
[ Media Week | 2011-10-25 00:00:00 UTC ]
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For the 12th consecutive quarter in a row, The Atlantic is reporting gains in print and online revenue. In third quarter 2011, overall advertising revenue is up 19 percent, with digital ad revenue soaring 41 percent and print up 3 percent over the third quarter of 2010. Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-24 00:00:00 UTC ]
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Finally, publishers have a reason to cheer Apple. In the 10 days since Apple launched its Newsstand for the iPad and iPhone, many are reporting big spikes in sales of their digital editions. Ease of discovery is a big reason for the sales increase; titles are now collected in one place rather... Continue reading at AdWeek
[ AdWeek | 2011-10-22 00:00:00 UTC ]
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Simon & Schuster, Random House and the Hachette Book Group said they would allow authors to access book sales data online, a service Amazon began providing last year. Continue reading at The New York Times
[ The New York Times | 2011-10-20 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Thu, 20/10/2011 - 09:00 Bertrams' sales and operating profit has dropped marginally in the last year while the book wholesaler said its merger with Dawson Books will increase revenues by a third. read more Continue reading at The Bookseller
[ The Bookseller | 2011-10-20 00:00:00 UTC ]
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Wordpress.com blogs just got ad-friendlier. On the heels of its acquisition of Lijit Networks, Federated Media Publishing has struck a deal to expand its ad network further, offering Wordpress.com bloggers the ability to tap into its monetization tools. The opt-in service will give Federated the... Continue reading at AdWeek
[ AdWeek | 2011-10-20 00:00:00 UTC ]
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In the digital sector, some publishers are still waiting for online advertising to become as profitable as its print counterpart once was. Many complain digital ad offerings are not comparable to the quality in print; others say the infrequency and size of advertising units may be causing the... Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-20 00:00:00 UTC ]
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In July, Meredith Corp. launched its Engagement Dividend program, a guaranteed ROI investment partnership for select advertisers. Already, Meredith has met with over 100 companies (which equates to even more brands) about a possible partnership in the program. Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-19 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Tue, 18/10/2011 - 09:00 AD Miller's Snowdrops and Carol Birch's Jamrach's Menagerie are the bestselling books in the Man Booker shortlist on the high street, ahead of the prize's announcement this evening. read more Continue reading at The Bookseller
[ The Bookseller | 2011-10-18 00:00:00 UTC ]
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After showing growth for the first six months of 2011, consumer magazine ad pages fell 5.6 percent in the third quarter compared to the same period in 2010, according to newly released figures from Publishers Information Bureau. Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-11 00:00:00 UTC ]
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