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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#financially viable
#full ownership
#feel optimistic
#monthly traffic
#audience growth
Samsung has launched an $1400 ATIV Book 9 Plus laptop (shown above) equipped with Intel’s latest Haswell chip, but analysts said such sustained high prices for laptops and Ultrabooks could hinder the recovery of the PC market. PC shipments are already in a steady decline with the growing... Continue reading at PC World
[ PC World | 2013-08-10 00:00:00 UTC ]
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#principal analyst
The music industry’s lawsuit against a popular YouTube channel this week could indicate that publishers are looking for savvier ways to attack piracy besides going after YouTube itself, a legal expert said. The National Music Publishers Association Tuesday filed a copyright infringement suit... Continue reading at PC World
[ PC World | 2013-08-08 00:00:00 UTC ]
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#broader scope
National Libraries Day next year will take place on Saturday 8th February 2014. The day will... Continue reading at The Bookseller
[ The Bookseller | 2013-08-05 00:00:00 UTC ]
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Hit by inflation and lower government purchases, Brazil's book market shrank by 2.64% last year, the worst decline in real value since 2002. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-08-02 00:00:00 UTC ]
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Bloomberg LP has made another big raid on old media again, poaching Justin Smith from the Atlantic Media Co. to be global media CEO. Smith is the Atlantic Media president who is credited with reversing 154-year-old Atlantic magazine’s losses by advancing an aggressive, digital-first strategy. He... Continue reading at AdWeek
[ AdWeek | 2013-07-29 00:00:00 UTC ]
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Luton Borough Council is considering closing several libraries as it looks to make savings on its... Continue reading at The Bookseller
[ The Bookseller | 2013-07-25 00:00:00 UTC ]
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#library closures
#make savings
A federal judge ruled Wednesday that Apple conspired with publishers to set the prices of ebooks and "played a central role in facilitating and executing that conspiracy."A federal judge ruled Wednesday that Apple conspired with publishers to set the prices of ebooks. Apple, the judge found,... Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-07-10 00:00:00 UTC ]
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#apple conspired
#central role
#judge found
#pay damages
Travelers with a literary bent may find the Algonquin Hotel quite compatible. The storied property has teamed with publisher Simon & Schuster to offer a package befitting its literary history. The newly dubbed Simon & Schuster Suite, with prices starting at $459, is stocked with classic... Continue reading at Crains New York
[ Crains New York | 2013-07-07 00:00:00 UTC ]
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#simon schuster
#chuck klosterman
The Publishers Weekly Stock Index rose 12.8% in the first six months of 2013, just slightly below the 13.8% increase posted by the Dow Jones Industrial Average in the January-to-June period. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-07-06 00:00:00 UTC ]
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Random House's Ballantine Books joined the ranks of the Food Network, Smithfield, Wal-Mart, and a bevy of other companies in ceasing its relationship with the self-proclaimed queen of butter. Continue reading at ABC News
[ ABC News | 2013-06-30 00:00:00 UTC ]
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#cut ties
#paula deen
#random house
#food network
Library campaigners are braced for a further round of cuts as the Government unveils the latest... Continue reading at The Bookseller
[ The Bookseller | 2013-06-26 00:00:00 UTC ]
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#library closures
#library campaigners
This portable app's website says "Bright Snippet Sire," but everybody calls this open-source favorite Briss for…er…short. Briss crops a section of a PDF file and creates another PDF file of the cropped area. You can crop unwanted areas from PDFs with Briss. It's free, open-source, and portable,... Continue reading at PC World
[ PC World | 2013-06-26 00:00:00 UTC ]
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#cropped area
#single-column pages
#unnecessary margins
#page numbers
#chapter headings
#epub converter
Lincolnshire looks set to axe 32 libraries in a bid to save £2m from the county council... Continue reading at The Bookseller
[ The Bookseller | 2013-06-19 00:00:00 UTC ]
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#county council
A survey of 2,000 library staff by union UNISON has revealed claims of major cuts to schools... Continue reading at The Bookseller
[ The Bookseller | 2013-06-18 00:00:00 UTC ]
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#library cuts
#major cuts
A price war has been sparked on e-reading devices as the summer holiday season begins, with many... Continue reading at The Bookseller
[ The Bookseller | 2013-06-18 00:00:00 UTC ]
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#price war
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Shadow culture secretary Harriet Harman has called a debate on the future of the arts and... Continue reading at The Bookseller
[ The Bookseller | 2013-06-14 00:00:00 UTC ]
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#creative industries
With 20% of Russia's bookstores having closed and book sales in free fall, the government is investing $100m to promote reading and change in the industry. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-06-10 00:00:00 UTC ]
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#book industry
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#free fall
#promote reading
Publishers and librarians have assembled a list of questions to inform e-lending pilot schemes... Continue reading at The Bookseller
[ The Bookseller | 2013-06-06 00:00:00 UTC ]
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The Minumsa Publishing Group wins the rights to Haruki Murakami's latest novel, for what is said to be a record-breaking 150 million yen (about $1.49 million). Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-06-03 00:00:00 UTC ]
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#haruki murakami
The opening keynote of BookExpo America suggests the top concerns facing the US book market in 2013 remain much the same: ebooks, self-publishing, and how to win readers. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-30 00:00:00 UTC ]
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#opening keynote
#book market