Cuts at The Atlantic Set Off Alarm Bells for the Industry

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 ]
News tagged with: #financially viable #full ownership #feel optimistic #monthly traffic #audience growth

Other Publishing stories related to: 'Cuts at The Atlantic Set Off Alarm Bells for the Industry'

Hands On: Nokia's Lumia Icon cuts the phablet down to size

Sanity has been restored to Nokia’s Lumia smartphone lineup with the release of the Nokia Icon. This Verizon exclusive pulls the best features from Nokia’s massive 6-inch phablets—the Lumia 1520 in particular—and tucks them behind a manageable, 5-inch OLED display.I purposefully seek out large... Continue reading at PC World

[ PC World | 2014-02-12 00:00:00 UTC ]
More news stories like this | News stories tagged with: #internal storage

The Hatchet Job of the Year doesn't cut it | Alex Clark

This celebration of bookish snark, won by AA Gill for his Morrissey assault, is less daring and less worthy than it thinksIt's the middle of a wet, wet winter, unaccountably you haven't shed the pounds or learnt the cello as per the optimism of 1 Jan, and to make matters even worse, Valentine's... Continue reading at The Guardian

[ The Guardian | 2014-02-12 00:00:00 UTC ]
More news stories like this | News stories tagged with: #ve joined #feel great

News Hub set to create opportunities for freelance journalists

New publishing platform offers writers chance to create an online presence and promises to 'pay journalists better than ever'Websites that pay contributors according to the popularity of their content are nothing new, but what does their existence in the online market mean for the thousands of... Continue reading at The Guardian

[ The Guardian | 2014-02-11 00:00:00 UTC ]
More news stories like this | News stories tagged with: #regular contributor

Johnston Press newspaper staff in Ireland alarmed by contracts switch

Johnston Press employees in Ireland have received notices informing them that the terms of their employment contracts will be switched to a new company, Formpress Publishing Ltd, later this week.They believe it to be a precursor to the publisher's newspapers being sold to the company, which was... Continue reading at The Guardian

[ The Guardian | 2014-02-11 00:00:00 UTC ]
More news stories like this | News stories tagged with: #ashley highfield #derry journal #ballymena times

B&N Makes Cuts, But is Committed to Nook Products

Barnes & Noble acknowledged Monday that it has cut jobs throughout the company, but insisted that a report that said it had laid off its entire Nook hardware staff was “incorrect.” Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-02-11 00:00:00 UTC ]
More news stories like this | News stories tagged with: #nook products #cut jobs

New IAB Chairman Takes Industry to Task

Ziff Davis CEO Vivek Shah was named as the new chairman of the Interactive Advertising Bureau tonight. And he started his tenure by immediately taking the industry to task for letting bad traffic perpetuate—taking particular aim at digital media buyers. During a blunt keynote address at the IAB... Continue reading at AdWeek

[ AdWeek | 2014-02-10 00:00:00 UTC ]
More news stories like this | News stories tagged with: #told adweek #ad exchanges #inventory suppliers #employ click- #valueless nuisance #overworked 24-year- #media planner #adirty secret #drug dealers #people taking

Rubicon Project Sets $100M IPO Plan

The Rubicon Project, a digital advertising platform for buyers and sellers, has revealed its plans to sell its shares publicly. The LA-based company follows a number of ad tech firms that have tested public markets within the past year, including Criteo, RocketFuel, Tremor Video, YuMe among... Continue reading at AdWeek

[ AdWeek | 2014-02-05 00:00:00 UTC ]
More news stories like this | News stories tagged with: #time period #morgan stanley #goldman sachs #rupert murdoch #web properties

LBF Sets Digital Conference Lineup

The sixth edition of the conference will take place April 7, just before the opening of the London Book Fair. Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-02-05 00:00:00 UTC ]
More news stories like this | News stories tagged with: #sixth edition

Filing Schedule Set for Apple’s Damages Trial

Amid more legal maneuvering, Judge Denise Cote this week officially set a briefing schedule for Apple’s ebook damages trial. Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-01-30 00:00:00 UTC ]
More news stories like this | News stories tagged with: #damages trial

Outrage at Scotland’s Book Town library cuts

Dumfries and Galloway Council is facing criticism after revealing plans to reduce the library... Continue reading at The Bookseller

[ The Bookseller | 2014-01-27 00:00:00 UTC ]
More news stories like this |

Hearst Sets Launch for First Issue of Dr. Oz, The Good Life

Hearst Magazines will roll out its newest title, Dr. Oz, The Good Life, Feb. 4. With 800,000 copies being distributed, including 375,000 copies on newsstands for $3.99 and another 425,000 going to subscribers of other Hearst titles, The Good Life could well be the biggest consumer magazine... Continue reading at AdWeek

[ AdWeek | 2014-01-27 00:00:00 UTC ]
More news stories like this |

How Facebook's Mobile Ad Network Could (Finally) Upend A Backwards Industry

By understanding our tastes and habits, Facebook could steal billions of dollars in ads from traditional media and get Madison Avenue out of the stone age.Facebook has never been a company lacking in foolish ambition--witness Facebook Home, Beacon, Places, and other monumental undertakings. But... Continue reading at Fast Company

[ Fast Company | 2014-01-25 00:00:00 UTC ]
More news stories like this | News stories tagged with: #traditional media #madison avenue #third-party publishers

Nigerian school stakes claim to have set up Africa's first printing press

The Hope Waddell Training Institution, a school in Nigeria founded in 1895 by Presbyterian missionaries, is laying claim to have set up Africa's oldest press. But could it be so?Hope Waddell, in Calabar, Cross River State, had a functioning printing press from 1903, initially to serve the school... Continue reading at The Guardian

[ The Guardian | 2014-01-20 00:00:00 UTC ]
More news stories like this | News stories tagged with: #sierra leone

Digital Book World 2014: An Industry Transformed

The fifth installment of Digital Book World, the annual New York City conference on digital publishing, was held last week. Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-01-17 00:00:00 UTC ]
More news stories like this | News stories tagged with: #industry transformed #digital publishing

Author Vanessa Curtis sets up literary consultancy

Author Vanessa Curtis, whose novels include Zelah Green and The Haunting of Tabitha Grey (both... Continue reading at The Bookseller

[ The Bookseller | 2014-01-17 00:00:00 UTC ]
More news stories like this | News stories tagged with: #literary consultancy

DBW 2014: An Industry Transformed

The 5th annual Digital Book World conference opened with a look back over those five years and the vast changes in book publishing wrought by the transition to digital media. Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-01-15 00:00:00 UTC ]
More news stories like this | News stories tagged with: #industry transformed

Wider publishing industry 'worth £10bn to UK in 2012'

A new report by the Department for Culture, Media and Sport (DCMS) has shown that the publishing... Continue reading at The Bookseller

[ The Bookseller | 2014-01-15 00:00:00 UTC ]
More news stories like this | News stories tagged with: #sport dcms

Atlantic Restructures, Supported by Allen & Unwin

Atlantic Books Limited has begun the year by announcing "a significant financial and organizational restructuring." Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-01-14 00:00:00 UTC ]
More news stories like this | News stories tagged with: #allen unwin