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
Penguin UK's focus on brand strategy and going direct to the consumer will continue into the... Continue reading at The Bookseller
[ The Bookseller | 2012-07-27 00:00:00 UTC ]
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#brand strategy
Total book sales fell 2.5% in 2011, to $27.2 billion, according to the latest figures released by BookStats. Revenue was down in three of the four major segments measured by BookStats—k–12, higher education, and professional/scholarly—and up slightly in trade. Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-07-20 00:00:00 UTC ]
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#higher education
The Atlantic has returned to Reddit. A month after the social news site kicked out the news magazine and dozens of other sites —including Bloomberg BusinessWeek, and Discovery News—for spam, Reddit has welcomed many back into th ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-07-10 00:00:00 UTC ]
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#news magazine
Led by big dollar gains at Amazon and Walt Disney Co., the Publishers Weekly Stock Index rose 16.7% in the first six months of 2012, almost triple the increase posted by the Dow Jones Industrial Average. Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-07-06 00:00:00 UTC ]
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#industry stocks
#walt disney
Foyles and Blackwell bookshops have reported sales and footfall increases following their... Continue reading at The Bookseller
[ The Bookseller | 2012-07-04 00:00:00 UTC ]
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#reported sales
Publishing giants The New York Times and The Wall Street Journal firmed up exclusive deals with Flipboard and Pulse earlier in the week for exclusive content to go out to these third-party mobile apps, but as one Flipboard rival explains, this news c ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-07-02 00:00:00 UTC ]
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#media industry
#exclusive content
Constable & Robinson and the University of East Anglia have set up the Corsair Bursary, an... Continue reading at The Bookseller
[ The Bookseller | 2012-06-28 00:00:00 UTC ]
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#constable robinson
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Catherine Bell is to join Scholastic as co-managing director and head of publishing, marketing... Continue reading at The Bookseller
[ The Bookseller | 2012-06-27 00:00:00 UTC ]
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Shares in News Corporation rise 2.4% in Australia following reports that it may split its entertainment businesses from its publishing interests. Continue reading at BBC News
[ BBC News | 2012-06-26 00:00:00 UTC ]
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#entertainment businesses
Penguin, Macmillan and Apple must wait just under a year for the ruling on the ebook price... Continue reading at The Bookseller
[ The Bookseller | 2012-06-25 00:00:00 UTC ]
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A US judge on Friday set a 2013 trial date for a lawsuit from the US government accusing Apple and book publishers of conspiring to fix the prices of electronic books. Continue reading at Stuff
[ Stuff | 2012-06-25 00:00:00 UTC ]
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#book publishers
#electronic books
The Justice Department meant business when it accused Apple and five other publishers of price-rigging ebooks, and are officially taking Cupertino and two publishers to court. In a hearing on Friday, Judge Denise Cote set a bench trial for June 3, 2012, putting Apple, Macmillan and Penguin Group... Continue reading at Engadget
[ Engadget | 2012-06-23 00:00:00 UTC ]
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#accused apple
#penguin group
#agency pricing
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The struggling conglomerate, which has a 30 percent market share in Australia, publishes The Sydney Morning Herald, the Australian Financial Review and The Age in Melbourne. Continue reading at The New York Times
[ The New York Times | 2012-06-18 00:00:00 UTC ]
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HarperCollins has set up a global publishing programme, HarperCollins 360, which aims to make... Continue reading at The Bookseller
[ The Bookseller | 2012-06-13 00:00:00 UTC ]
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Atlantic Books publishing director Margaret Stead has bought an "heroic" memoir by... Continue reading at The Bookseller
[ The Bookseller | 2012-06-06 00:00:00 UTC ]
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Random House's Square Peg is lining up two in-house projects for the second half of 2012,... Continue reading at The Bookseller
[ The Bookseller | 2012-05-21 00:00:00 UTC ]
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#square peg
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He's rumoured to be worth £10 million ($20 million), insured for £1 million, with a book deal in the works and an offer to be the face of an advertising campaign. Continue reading at Stuff
[ Stuff | 2012-05-16 00:00:00 UTC ]
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#worldwide fame
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Two New York meetings—the annual Book Industry Study Group (BISG) Making Information Pay... Continue reading at The Bookseller
[ The Bookseller | 2012-05-11 00:00:00 UTC ]
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#big data
Booksellers including Foyles, Newham Books, Pages of Hackney and The Book Box will be among those... Continue reading at The Bookseller
[ The Bookseller | 2012-05-10 00:00:00 UTC ]
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#book box
Leaders from the world of magazine publishing are set to tackle the industry's multiplatform future on Wednesday (9 May) at Publishing+, the PPA's conference at the Hilton Metropole. Continue reading at Media Week
[ Media Week | 2012-05-04 00:00:00 UTC ]
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