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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The hype might suggest that many citizens of the iPhone-loving world have adopted ebooks for their literary needs, but Kimico is betting there are still plenty... Continue reading at PC World
[ PC World | 2011-02-10 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Wed, 09/02/2011 - 07:00 Profits at Indigo Books & Music have dropped by $4.4m year-on-year in its fourth quarter. The Canadian book retailer reported profits of C$30.1m in the fourth quarter ending 1st January, down from C$34.5m in the same... Continue reading at The Bookseller
[ The Bookseller | 2011-02-09 00:00:00 UTC ]
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Written By: Barbara Casassus Publication Date: Mon, 07/02/2011 - 08:53 Sales of books in France fell by 1.5% in 2010 or 0.5% without taking account of book price inflation, according to French weekly Livres Hebdos indicators. After three years of increase, the decline came as retailing in... Continue reading at The Bookseller
[ The Bookseller | 2011-02-07 00:00:00 UTC ]
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Written By: Lisa Campbell A complaint against a W H Smith advert for the Richard and Judy Book Club has not been upheld by the Advertising Standards Authority. The television broadcast, promoting the husband-and wife teams exclusive deal with W H Smith to run Richard and Judys Book Club,... Continue reading at The Bookseller
[ The Bookseller | 2011-02-02 00:00:00 UTC ]
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Written By: Philip Stone Spending at UK booksellers in January 2011 was up just 0.7% on a dire January last year when the "big freeze" plunged book sales to a five-year low. According to Nielsen BookScan data, £108.6m was spent at UK booksellers in the four weeks to 29th January, up just... Continue reading at The Bookseller
[ The Bookseller | 2011-02-02 00:00:00 UTC ]
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Apple has reportedly rejected Sony's reader app from the App store for selling content within the app and letting customers make purchases outside the App store (such as within the Sony Reader Store, according to The New York Times. Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-01 00:00:00 UTC ]
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The ebook sales milestone "has come even sooner than we expected," CEO Bezos says. Continue reading at PC World
[ PC World | 2011-01-29 00:00:00 UTC ]
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Written By: Lisa Campbell Kindle ebooks have overtaken paperback sales at Amazon.com, as the internet retailer revealed sales topped $10bn for the first time in its latest trading quarter. read more Continue reading at The Bookseller
[ The Bookseller | 2011-01-28 00:00:00 UTC ]
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Online retailer reports sales of its digital ebooks has outstripped those of traditional paperbacks. Continue reading at PC World
[ PC World | 2011-01-28 00:00:00 UTC ]
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Written By: Barbara Casassus Market research firm GfK has predicted that 1 million tactile tablets will be sold in France this year. A total of 435,000 worth 220 million euros were sold here in 2010, a strong start for the new market. Although tablet sales for Christmas were reported not to... Continue reading at The Bookseller
[ The Bookseller | 2011-01-27 00:00:00 UTC ]
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Written By: Charlotte Williams Constable & Robinson has appointed Walker Books as its sales agents for Europe, the Middle East and East Africa. read more Continue reading at The Bookseller
[ The Bookseller | 2011-01-26 00:00:00 UTC ]
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Total revenue jumped 9 percent to $367 million for Meredith Corp in the second quarter of fiscal 2011, driven by strong advertising growth and integrated marketing services. Total advertising revenue for the first six months of fiscal 2011 jumped 11 percent to $420 million (with total revenue of... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-25 00:00:00 UTC ]
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Organic growth will be the primary driver of the media business over the next 12 to 24 months, according to nearly 500 executives in the information, marketing services and technology sectors, according to the first annual Media Growth survey from investment banker The Jordan, Edmiston Group and... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-24 00:00:00 UTC ]
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