Even as layoffs, pay cuts and indefinite furloughs become an almost daily occurrence in the media industry, news about such developments grows no less tragic and alarming. Such was the case Thursday morning, when Atlantic Media chairman David Bradley revealed in a staff memo that, despite gaining 160,000 new subscribers since launching a metered paywall last September, 68 employees at The Atlantic would be informed by 11:00 a.m. that they'd lost their jobs. The cuts, which represent 17% of the magazine's approximately 400 staffers, were made necessary by a decline in advertising and "the overnight and near-complete undoing of in-person events," Bradley said, while noting that those let go include sales and events staffers, but also writers, editors and those in marketing. Advertising aside, the impact of a pause on in-person events on the magazine's top line was certainly significant. In a normal year, The Atlantic produces more than 100 live events, which reportedly account for up to a quarter of its annual revenues and likely a larger share of its margins. Formerly profitable, The Atlantic sank into the red last year, insiders told The Wall Street Journal, after embarking on an aggressive expansion that included hiring about 100 additional employees under new owner Laurene Powell Jobs, whose Emerson Collective acquired a majority stake in the magazine in July 2017, investing a reported $100 million. While providing 16 weeks of severance pay to dismissed staffers is... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-05-21 16:30:08 UTC ]
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Sales of Russian books in the Ukraine have plummeted in 2014 and the Ukrainian government is looking at passing legislation to curtail imports further. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-08-11 00:00:00 UTC ]
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More than half of Liverpool's libraries are at risk of closure as the city council looks to... Continue reading at The Bookseller
[ The Bookseller | 2014-08-08 00:00:00 UTC ]
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#city council
With a large decline on the last day of the month, the Dow Jones Industrial Average fell 1.6% in July, and the overall market weakness contributed to a 3.6% decline for the Publishers Weekly Stock Index. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-01 00:00:00 UTC ]
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#6% decline
T he magazine industry has faced its fair share of hardships in recent years. The demise of Source Interlink has left newsstand inventory sparse and publishers reeling. The monetization of digital content remains enduringly elusive. And all... Continue reading at Publishing Executive
[ Publishing Executive | 2014-08-01 00:00:00 UTC ]
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#evolving industry
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#fair share
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Pearson Plc (PSON), the publisher of the Financial Times, said today it will have cut a total of about 4,000 jobs in the two years through 2014 and reported a sales decline of 6.5 percent for the first half. The cuts are equivalent to about 10 perc ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2014-07-25 00:00:00 UTC ]
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#sales decline
Bloomsbury Publishing has acquired Irish writer Rob Doyle’s debut novel Here Are the Young... Continue reading at The Bookseller
[ The Bookseller | 2014-07-25 00:00:00 UTC ]
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#bloomsbury publishing
David Walliams has set up a new production company with comedian Miranda Hart and producer Jo... Continue reading at The Bookseller
[ The Bookseller | 2014-07-22 00:00:00 UTC ]
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Chicago Mayor Rahm Emanuel issued an official proclamation earlier this week, declaring Saturday, July 12 to be Chicago Independent Bookstore Day. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-11 00:00:00 UTC ]
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Libraries in Derbyshire could see staffing reduced and opening hours slashed as the county... Continue reading at The Bookseller
[ The Bookseller | 2014-07-07 00:00:00 UTC ]
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#library service
Monitor contributor Danny Heitman enjoys reading a children's book series about a wealthy elephant named Uncle to his son. What's surprising about that? His son is a teenager. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2014-07-05 00:00:00 UTC ]
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The 2014 Self-Publishing Book Expo, first held in 2009, will take place at the Roosevelt Hotel in New York City on November 15. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-30 00:00:00 UTC ]
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The paper industry is stabilizing in the face of downward pressures, but things are more uncertain for the sectors serving the magazine market. As a whole, U.S. paper companies have seen sustained growth since 2009, with revenue slowly approaching where it had been before the recession. Continue reading at Folio Magazine
[ Folio Magazine | 2014-06-26 00:00:00 UTC ]
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Industry sales were just about flat in 2013, falling by less than 1%, to $27.01 billion, from $27.12 billion in 2012. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-26 00:00:00 UTC ]
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Report says publishers under heavy pressure to make damaging concessions including giving online retailer rights to print on demandBritish authors have condemned as "deeply worrying" reports that Amazon is now pressing for improved terms from publishers in the UK, as its showdown with Hachette... Continue reading at The Guardian
[ The Guardian | 2014-06-25 00:00:00 UTC ]
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The Silkworm, written as Robert Galbraith, was advertised with long delivery delays, but web retailer appears to have backed down· Review: The Silkworm by JK Rowling as Robert Galbraith· Digested read: The Silkworm by Robert GalbraithAmazon.com appears to have bowed to consumer pressure and... Continue reading at The Guardian
[ The Guardian | 2014-06-20 00:00:00 UTC ]
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Melville House UK will launch its first titles this autumn, starting with a novel by Goldsmiths... Continue reading at The Bookseller
[ The Bookseller | 2014-06-19 00:00:00 UTC ]
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Authors want both online and bricks and mortar retailers to thrive, Louise Doughty has said.... Continue reading at The Bookseller
[ The Bookseller | 2014-06-17 00:00:00 UTC ]
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Are you an aspiring writer or editor? Wondering how the self-publishing industry works? Our panel will be here on 18 June between 1pm and 2.30pm to offer advice and answer your questionsSelf-publishing is becoming an increasingly popular way for authors to get their work into print. While the... Continue reading at The Guardian
[ The Guardian | 2014-06-16 00:00:00 UTC ]
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Glenn Britt, a former chairman and chief executive of Time Warner Cable and a leader in the pay-television industry for many years, died of cancer Wednesday at his New York City home at the age of 65. Continue reading at Los Angeles Times
[ Los Angeles Times | 2014-06-12 00:00:00 UTC ]
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Award short lists will be announced in August, and the winners will be presented at the annual members meeting on September 19 in New York City. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-11 00:00:00 UTC ]
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