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 ]
News tagged with:
#digital engagement
#roughly half
#apple news+
#lead generation
#cash flow
#high priority
Third quarter sales fell 9% at Hachette Book Group for the period ended August 31, 2021, contributing to a 1.2% drop in total sales for Lagardère's publishing group. Despite the quarterly decline, sales for the first nine months of 2021 were up 9% over a year ago for the entire publishing division. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-10-28 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#total sales
#2% drop
Sparked by a strong fourth quarter, Simon & Schuster finished 2020 with both sales and earnings up about 11% over 2019. A slew of adult nonfiction hits helped to drive the gains. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-02-25 05:00:00 UTC ]
More news stories like this |
In the U.S. and around the world, the third quarter of 2020 wasn't a pretty one for traditional advertising revenue. But digital media is looking up. According to Magna's latest quarterly advertising forecast, U.S. linear advertising revenues for 2020 (which include linear TV, linear radio,... Continue reading at AdWeek
[ AdWeek | 2020-12-07 02:00:00 UTC ]
More news stories like this | News stories tagged with:
#bouncing back
#digital media
Led by the megabestseller 'Midnight Sun' and 'The Return,' sales at Hachette Book Group jumped 19.2% in the quarter ended September 30, 2020, over the comparable period in 2019. Digital sales also had solid gains in the period. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-11-05 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#digital sales
#midnight sun
#solid gains
Children's books have seen a boom during coronavirus-hit 2020 with non-fiction heading for a record year, according to Nielsen. Continue reading at The Bookseller
[ The Bookseller | 2020-09-24 11:31:27 UTC ]
More news stories like this | News stories tagged with:
#record year
An improvement in fourth quarter profits for the period ended June 30, 2020, was not enough to prevent earnings for the full year at HarperCollins from dropping 15%, to $214 million. Revenue fell 5%, to $1.67 billion, compared to fiscal 2019. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-08-07 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#full year
#harpercollins
The coronavirus is causing many publishers to experience of bifurcation of their ad sales that’s led to an evaporation of the mid-sized deal. Many large digital publishers are finding the bulk of their deal flow is smaller deals. There are still the big fish to land with wide-ranging campaigns,... Continue reading at Digiday
[ Digiday | 2020-05-18 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#ad sales
#big fish
#digital publishers
In the midst of all our town halls, Latin dance breaks and golf tournaments on Zoom, April zoomed by at an alarmingly rapid pace. With the calendar turning to May, it's officially Q1 earnings season. Plus, Nielsen dives into what sports fans are watching in the absence of sports. Here are the... Continue reading at AdWeek
[ AdWeek | 2020-05-01 20:05:11 UTC ]
More news stories like this | News stories tagged with:
#sports fans
#nielsen
Facing what it called "a significant decline in advertising revenues" as a result of the COVID-19 pandemic, Meredith Corp. says it's implementing sweeping pay cuts across 60% of its approximately 5,000 employees, suspending quarterly dividends and withdrawing the 2020 fiscal outlook it... Continue reading at Folio Magazine
[ Folio Magazine | 2020-04-20 17:45:12 UTC ]
More news stories like this | News stories tagged with:
#homes gardens
#magnolia journal
#sweet july
Revenue at Penguin Random House rose to €3.64 billion last year and earnings increased to €561 million. CEO Markus Dohle noted that despite the record year, the spread of the coronavirus means that the publisher will "have to endure some impact" to its business this year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-03-24 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#record year
#coronavirus means
#penguin random house
Profits rose at Hachette Book Group last year over 2018 despite a 1% decline in revenue. The earnings increase was attributed to improved operating efficiencies in the year, along with higher sales of digital audiobooks. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-02-27 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#earnings increase
#sales dipped
#profits rose
#1% decline
#higher sales
#digital audiobooks
A tough fourth quarter where earnings were hurt by, among other factors, the tariffs on books manufactured in China contributed to a 7% drop in profits in 2019 at Simon & Schuster. Revenue in the year fell 1%. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-02-20 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#simon schuster
News Corp, which will get small stake in Tremor, has also entered into three-year partnership for outstream video. Continue reading at Media Week
[ Media Week | 2020-01-06 09:49:13 UTC ]
More news stories like this | News stories tagged with:
#three-year partnership
#news corp
Helped by acquisitions, revenue at John Wiley rose 4% in the second quarter of fiscal 2020 and net income increased 2.1%. The company's academic and professional learning division was a soft spot, with revenue falling 6%. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-12-04 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#soft spot
Profits rose by $1 million at Simon & Schuster in the third quarter of 2019 over the comparable period in 2018, despite a 9% drop in sales. In last year's third quarter, Bob Woodward's 'Fear' drove strong sales for the publisher. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-11-12 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#sales decline
#profits rose
#$1 million
#simon schuster
#9% drop
#bob woodward
Profits dropped 28% at HarperCollins in the first quarter of fiscal 2020 compared to the first period of fiscal 2019, while revenue declined 3%. Parent company New Corp expects HC's financial performance to improve starting in January, the second half of the fiscal year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-11-08 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#fiscal year
#financial performance
#harpercollins
Revenue at Hachette Book Group fell marginally in the third quarter ended September 30, 2019, dipping just 0.3%, parent company Lagardère reported. One reason for the small decline was slowing sales of the longtime backlist bestseller 'You Are a Badass.' Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-11-07 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#small decline
#slowing sales
#lagardère
Shoppers appear unfazed by a potential recession, tariff uncertainty and an impeachment inquiry in Washington. The National Retail Federation, which released its annual holiday sales forecast Thursday, says retail sales will increase between 3.8 percent and 4.2 percent during the last two months... Continue reading at Advertising Age
[ Advertising Age | 2019-10-03 19:49:51 UTC ]
More news stories like this | News stories tagged with:
#cyber monday
#direct impact
#consumer confidence
#physical stores
#digital media
Softness in John Wiley’s education publishing and professional learning group limited growth in the first quarter ended July 31, 2019, to 3%, and contributed to a 87% drop in operating income. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-09-05 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#john wiley
#operating income