BuzzFeed cuts projected revenue by half after missing 2015 financial target

The digital media company is ‘very comfortable’, it told the Financial Times, despite a report that internal financial targets were missed by over $80mBuzzFeed missed internal financial targets in 2015 and had to substantially cut its projected revenue by about half according to a report published by the Financial Times on Tuesday. According to the FT, the company has been forced to cut its 2016 revenue target from $500m to $250m after missing its 2015 target by more than $80m. The company reportedly projected revenues of $250m in 2015 but generated less than $170m. Continue reading... Continue reading at 'The Guardian'

[ The Guardian | 2016-04-13 00:00:00 UTC ]
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BuzzFeed is laying off 100 workers, 8% of its U.S. employees, after missing revenue target

Digital media company BuzzFeed said it is laying off 8% of its U.S. employees, or 100 workers, as it changes its business model in a bid to boost revenue. It's also cutting an unspecified number of jobs in Britain. The company has 1,700 employees worldwide. A spokeswoman for New York-based... Continue reading at Los Angeles Times

[ Los Angeles Times | 2017-11-29 00:00:00 UTC ]
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US publishing revenues dip 4.2% in first half of 2020

The US publishing industry’s revenues are down 4.2% for the year to date, according to the Association of American Publishers' latest StatShot report, although Trade sales in the six-month period held on with a rise of almost 3% compared to the first half of 2019. Continue reading at The Bookseller

[ The Bookseller | 2020-08-19 02:12:36 UTC ]
More news stories like this | News stories tagged with: #american publishers #publishing industry


Daily Mail publisher to cut up to 100 jobs as revenues fall

DMGT says quarterly print advertising down 69% and digital income down 17% The publisher of the Daily Mail, Mail on Sunday, the i and Metro is to cut up to 100 roles as the coronavirus pandemic continues to hammer the newspaper and magazine industry.Daily Mail & General Trust, which also... Continue reading at The Guardian

[ The Guardian | 2020-08-13 11:23:11 UTC ]
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Pearson reports first-half revenue drop of 17%

Pearson has reported revenue fell 17% in the first half of 2020 as the result of “significant disruption” caused by Covid-19. However, the company has said “things are improving”, citing better sales in June. Continue reading at The Bookseller

[ The Bookseller | 2020-07-24 08:05:58 UTC ]
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Revenue Tumbled 71% in First Half of 2020 at Reed Exhibitions

Revenue at Reed Exhibitions, whose businesses include BookExpo, fell to £201 million, from £684 million in the first six months of 2019, and the group had an adjusted operating loss of £117 million compared to a profit of £231 million a year ago. Continue reading at Publishers Weekly

[ Publishers Weekly | 2020-07-23 04:00:00 UTC ]
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Meredith Cuts Salaries, Expands Ad Guarantee to Make Up for Revenue Decline

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 ]
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Wiley Cuts Financial Forecast for Fiscal 2020

John Wiley & Sons estimated the coronavirus outbreak will drop revenues for the fiscal year ending April 30 by about $50 million from its previous expectations, president and CEO Brian Napack said. Adjusted EBITDA is expected to be $25 million lower than original forecasts. Continue reading at Publishers Weekly

[ Publishers Weekly | 2020-04-09 04:00:00 UTC ]
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Half Price Books Cuts Workforce By More Than 2,000

Half Price Books has laid off or furloughed 2,146 people, representing 78% of its workforce of 2,752. The company operates 126 stores in 17 states, all of which are closed. Continue reading at Publishers Weekly

[ Publishers Weekly | 2020-04-02 04:00:00 UTC ]
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Sports Publisher Minute Media Makes Half Its Revenue from Licensing Tech

Many digital publishers looking for alternative revenue streams to advertising turn to subscriptions and commerce. But Minute mMedia, home to Continue reading at Editor & Publisher

[ Editor & Publisher | 2020-03-03 18:30:12 UTC ]
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Restructuring at Cengage as company reports 9% first-half revenue fall

Cengage has reported revenue of $693m in the six months to end September 2019, a fall of 9.1% from the first-half in the previous financial year ($762.6m). Continue reading at The Bookseller

[ The Bookseller | 2019-11-14 21:42:50 UTC ]
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Open Road Revenue Up 36% in First Half of 2019

Open Road said revenue in the first six months of 2019 rose 36% over the comparable period in 2018, while earnings jumped 72%. Continue reading at Publishers Weekly

[ Publishers Weekly | 2019-09-10 04:00:00 UTC ]
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Quarto revenues nudge up as debt falls in first half

Quarto has described the first half of 2019 as "encouraging" after global results showed group revenue edged up to $56.4m and losses declined 75% compared to the same period in 2018. Continue reading at The Bookseller

[ The Bookseller | 2019-08-16 11:00:57 UTC ]
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Agency Brief: WPP revenue rises but profits dip in first half; MediaMonks ramps up production

WPP reports its second-quarter earnings on Friday,with some better-than-expected surprises. The company sees its revenue return to growth, up 1.6 percent in the first half of the year and 2.3 percent in the second quarter. In North America, revenue rises 0.4 percent in the second quarter but... Continue reading at Advertising Age

[ Advertising Age | 2019-08-09 19:31:00 UTC ]
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Comscore is 'exploring all strategic options' after missing on revenue

Comscore, its stock already approaching all-time lows, missed expectations of flat revenue with a 4.4 percent decline last quarter. The media measurement company’s interim CEO said on a Tuesday earnings call after market close that it’s “exploring all strategic options.” The stock already has... Continue reading at Advertising Age

[ Advertising Age | 2019-08-07 00:08:01 UTC ]
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BuzzFeed loses 11 staff in Australia amid global job cuts

Reporter says every member of the news team received a letter about redundancies on Tuesday morningThe Australian arm of BuzzFeed will have to cut 11 staff as a global downsizing strategy targets 200 of the digital publisher’s international workforce.BuzzFeedOz news reporter Alice Workman said... Continue reading at The Guardian

[ The Guardian | 2019-01-29 00:00:00 UTC ]
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BuzzFeed to lay off 200 staff in latest round of cuts

Online publisher announces job losses to shore up finances as Verizon unveils plan to sack 800 workersBuzzFeed has announced plans to lay off hundreds of staff, as digital media firms struggle to turn a profit while dealing with the same financial issues that have plagued traditional publishers... Continue reading at The Guardian

[ The Guardian | 2019-01-24 00:00:00 UTC ]
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Bloomsbury sees 22% leap in adult trade revenues in first-half

Revenues in Bloomsbury’s adult trade division soared by 22% in the first six months of the financial year. Continue reading at The Bookseller

[ The Bookseller | 2018-10-24 00:00:00 UTC ]
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Quarto reports 'encouraging' first half, but cuts jobs and closes Minneapolis office

Quarto has reported an "encouraging" trading performance for the first six months of 2018, including a group revenue rise of 12% year-on-year to $56.2m (2017: $50.2m) and an improved gross profit margin of 50.1% (2017: 48.2%). Continue reading at The Bookseller

[ The Bookseller | 2018-09-18 00:00:00 UTC ]
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American Publishers Cite 3.6-Percent Rise in Trade Revenue, First Half of 2018

While audiobook sales grow, the AAP's new report show children's book sales struggling and declines in education and scholarly revenues. The post American Publishers Cite 3.6-Percent Rise in Trade Revenue, First Half of 2018 appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2018-09-07 00:00:00 UTC ]
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