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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The publisher’s unique approach is perfect for authors looking to work closely with a team of publishing experts to create high-quality books readers will love. (Sponsored) Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-11 04:00:00 UTC ]
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Another summer has come and gone, but the digital media industry looks a little bit different than it did last spring. Continue reading at Digiday
[ Digiday | 2022-09-08 04:01:00 UTC ]
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As houses across the industry start recalling staff to their offices, publishing professionals are pushing back against low pay, heavy workloads, and an increasingly stifled corporate environment. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-02 04:00:00 UTC ]
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Music publishers, songwriters and musicians have struck a deal with streaming services for US mechanical streaming rates for 2023-2027, the National Music Publishers’ Association (NMPA) has announced. The NMPA, Nashville Songwriters Association International (NSAI) and Digital Media Association... Continue reading at Engadget
[ Engadget | 2022-09-01 12:34:02 UTC ]
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Settle in with novels by Donna Leon, Sulari Gentill, Elly Griffiths, Jean-Luc Bannalec and Sara Paretsky. Continue reading at The Washington Post
[ The Washington Post | 2022-08-23 12:00:00 UTC ]
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Staff from newspaper that rails against ‘militant trade unions’ will join sister outlets in striking on FridayThe Daily Express has repeatedly warned its readers that “militant trade unions” are bringing Britain to its knees – but this week many of the newspaper’s own staff will go on strike in... Continue reading at The Guardian
[ The Guardian | 2022-08-21 16:41:06 UTC ]
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Hollywood can’t resist a literary adaptation. Frontlist, backlist—it’s all fodder for screenplays. The publishing world itself also feeds the insatiable page-to-screen pipeline: from 1930s and ’40s screwball satires about newspaper reporters (His Girl Friday, Meet John Doe, Mr. Deeds Goes to... Continue reading at Literrary Hub
[ Literrary Hub | 2022-08-18 08:53:31 UTC ]
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Cookbook fans ‘heartbroken’ after John Clark’s derogatory outburst on social mediaThe cookbook author known as the Meal Prep King will no longer be published by Penguin Random House after he posted a misogynistic video on social media.John Clark, whose book The Meal Prep King Plan was a Sunday... Continue reading at The Guardian
[ The Guardian | 2022-08-16 17:55:17 UTC ]
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Newspaper publisher Gannett Co. confirmed Friday that it’s laying off some of its newsroom staff as part of a cost-cutting effort to lower its expenses as its revenue crumbles amid a downturn in ad sales and customer subscriptions Continue reading at ABC News
[ ABC News | 2022-08-12 21:45:49 UTC ]
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The Justice Department’s legal effort to block the merger of book publishing giants Penguin Random House and Simon & Schuster is more than just a showcase for the Biden administration’s tougher approach to corporate consolidation Continue reading at ABC News
[ ABC News | 2022-08-06 14:26:56 UTC ]
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NFT advocates often tout the technology's ability to grant the creator a cut of second-hand sales as one of its major attributes. Artists can earn from one of their digital creations years after first selling it. Others are looking at NFTs to earn a buck from the secondary market too, including... Continue reading at Engadget
[ Engadget | 2022-08-03 20:10:20 UTC ]
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A Virginia state judge has set an August 30 hearing for two lawsuits that seek to ban two popular books from bookshelves across the state, alleging they are “obscene” under an obscure state obscenity law. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-08-03 04:00:00 UTC ]
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Bestselling author Stephen King has testified in a federal antitrust trial in Washington Continue reading at ABC News
[ ABC News | 2022-08-03 00:28:27 UTC ]
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Year-to-date hardback revenues were down 7.5 percent in May at US$1.2 billion, paperbacks up 8.7 percent for $1.3 billion. The post American Publishers’ StatShot: US Industry Down 3.7 Percent in May appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-08-01 22:50:37 UTC ]
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The federal government’s civil suit to block the acquisition of Simon & Schuster by Penguin Random House is chugging along, with the trial set to begin on August 1. Exhibits to the joint pretrial motion, filed July 15, included lists of witnesses for both sides. Witnesses for both sides... Continue reading at Literrary Hub
[ Literrary Hub | 2022-07-20 16:13:34 UTC ]
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Looking at how industry professionals see the dynamics and value of book awards, Nielsen opens a new 10-minute survey. The post Nielsen BookData Opens a Third Annual Industry-Wide Awards Survey appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-07-18 21:18:55 UTC ]
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The Northwest, where I live and where my novel is set, is a big place and it is a lot of things. It is the damp, mossy woods of the coast, the high desert, and the snowy, jagged mountain ranges that divide the two. It is home to weird and real creatures like giant octopuses, […] The post 7... Continue reading at Electric Literature
[ Electric Literature | 2022-07-13 11:00:00 UTC ]
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The StatShot report from AAP shows United States trade book industry revenues falling 8.9 percent in April and 1 percent year-to-date. The post StatShot: US Industry Down 12.6 Percent in April; 2.3 Percent Year-to-Date appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-07-11 17:32:26 UTC ]
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With sales in all categories falling, publishers who provide results to AAP’s StatShot program reported a 12.6% decline in sales in April compared to a year ago, resulting in a 2.3% drop in industry sales through the first four months of 2021. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-07-11 04:00:00 UTC ]
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A week after authorizing a strike, some 250 unionized employees of HarperCollins said they will hold a one-day strike next Wednesday, July 20. They are requesting a "more accessible, equitable, and just workplace." Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-07-11 04:00:00 UTC ]
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