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
Random House has won the Publisher of the Year accolade at the Bookseller Industry Awards 2013,... Continue reading at The Bookseller
[ The Bookseller | 2013-05-13 00:00:00 UTC ]
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Short Books has acquired a thriller written by Justin Huggler, former foreign correspondent for... Continue reading at The Bookseller
[ The Bookseller | 2013-05-10 00:00:00 UTC ]
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#short books
#thriller written
#foreign correspondent
Adobe’s Digital Dispatch Adobe has been crowing recently about some numbers pointing to increased demand, innovative advertising models and new revenue streams in digital publishing. In April the company, known for its workflow and... Continue reading at Publishing Executive
[ Publishing Executive | 2013-05-02 00:00:00 UTC ]
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#fast stats
#revenue streams
#digital publishing
Publishers are gearing up for a strong autumn, as big new releases from the likes of Paul Merton... Continue reading at The Bookseller
[ The Bookseller | 2013-04-26 00:00:00 UTC ]
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#comics set
#super thursday
The Publishers Association has launched a new area of its website as a resource for those looking... Continue reading at The Bookseller
[ The Bookseller | 2013-04-16 00:00:00 UTC ]
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#publishers association
Porter Anderson assesses the Digital Minds Conference at the London Book Fair, where metaphors were in vogue, the end of copyright debated, and "speed" was the word of the day. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-04-15 00:00:00 UTC ]
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Atlantic Books has signed a new book telling the story of Paralympic sprinter and murder suspect... Continue reading at The Bookseller
[ The Bookseller | 2013-04-09 00:00:00 UTC ]
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#atlantic books
#book telling
Proposed cuts to Sheffield’s libraries will be debated in the city after 10,000 people... Continue reading at The Bookseller
[ The Bookseller | 2013-04-02 00:00:00 UTC ]
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#proposed cuts
Quadrille Publishing has acquired The Belle and Boo Book of Craft, a project book inspired by the... Continue reading at The Bookseller
[ The Bookseller | 2013-03-21 00:00:00 UTC ]
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Atlantic has signed a non-fiction book giving a personal account of life in Iraq, ten years after... Continue reading at The Bookseller
[ The Bookseller | 2013-03-19 00:00:00 UTC ]
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#personal account
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Quarto has revealed plans to cut debt by divesting of businesses "detracting from... Continue reading at The Bookseller
[ The Bookseller | 2013-03-12 00:00:00 UTC ]
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#revealed plans
Today more than ever publishers are looking for ways to save time and money in production. There are several obvious measures that can reduce cost and increase margins, however some solutions can be so sweeping that they jeopardize the integrity of the title, which in turn could tarnish your... Continue reading at Folio Magazine
[ Folio Magazine | 2013-03-01 00:00:00 UTC ]
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Ruth Killick, publicity director at Profile Books, is leaving the company to set up her own PR... Continue reading at The Bookseller
[ The Bookseller | 2013-02-25 00:00:00 UTC ]
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#profile books
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Atlantic Books has signed a new novel from the author of The Slap, Christos Tsiolkas. Ravi... Continue reading at The Bookseller
[ The Bookseller | 2013-02-22 00:00:00 UTC ]
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#atlantic books
Time Inc., the publisher of magazines including Time and Sports Illustrated, has begun eliminating about 6% of its head count—nearly 500 jobs—in the biggest round of cuts at the company since 2008."With the significant and ongoing changes in our industry, we must continue to transform our... Continue reading at Crains New York
[ Crains New York | 2013-01-30 00:00:00 UTC ]
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#trouble spots
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#fourth quarter
Since it was founded in May 2004 by Mark Smith and Wayne Davis, Quercus Publishing has become one of the largest independent book publishers in the U.K., and as the next step in its growth, the company has aggressive plans to expand in the U.S. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-01-26 00:00:00 UTC ]
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#mark smith
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Seven Stories, the national centre for children's books, is making a final push to galvanise... Continue reading at The Bookseller
[ The Bookseller | 2013-01-23 00:00:00 UTC ]
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#national centre
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The staff of Westminster libraries have written an open letter to their council bosses, urging... Continue reading at The Bookseller
[ The Bookseller | 2013-01-17 00:00:00 UTC ]
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#open letter
Forrester Research and DBW presented the findings of their Executive Publishing Survey on ebooks, devices and digital publishing predictions for 2013. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-01-16 00:00:00 UTC ]
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#forrester research
The annual search to find the best publishers, retailers, agents, librarians and supply... Continue reading at The Bookseller
[ The Bookseller | 2013-01-11 00:00:00 UTC ]
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#annual search