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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#full ownership
#feel optimistic
#monthly traffic
#audience growth
Amazon.com announced the launch of an ebook lending library for Kindle users, that allows Amazon Prime members to borrow books for free, as frequently as a book... Continue reading at PC World
[ PC World | 2011-11-03 00:00:00 UTC ]
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American Media, Inc. (AMI) and Michael Esposito, Senior Vice President of Operations and Digital Production, think they've hit upon a recipe that could work across the magazine industry for rationalizing print publishing costs and scaling up on digital platforms. Continue reading at Folio Magazine
[ Folio Magazine | 2011-11-03 00:00:00 UTC ]
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#ve hit
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Written By: Charlotte Williams Publication Date: Fri, 28/10/2011 - 08:40 Kobo will move into publishing, its c.e.o. has announced, with plans to offer complete publishing services directly authors, Canadian CBC News reports. C.e.o. Michael Serbinis told the network that Kobo will roll out its... Continue reading at The Bookseller
[ The Bookseller | 2011-10-28 00:00:00 UTC ]
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#publishing arm
For the 12th consecutive quarter in a row, The Atlantic is reporting gains in print and online revenue. In third quarter 2011, overall advertising revenue is up 19 percent, with digital ad revenue soaring 41 percent and print up 3 percent over the third quarter of 2010. Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-24 00:00:00 UTC ]
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#ad revenue
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Written By: Benedicte Page Publication Date: Fri, 21/10/2011 - 08:20 Penguin is promising a "whole year of celebration" for Sue Townsend next year to mark the 30th anniversary of the publication of her most famous creation's diary. read more Continue reading at The Bookseller
[ The Bookseller | 2011-10-21 00:00:00 UTC ]
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#sue townsend
#30th anniversary
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Written By: Benedicte Page Publication Date: Fri, 21/10/2011 - 11:35 Vampirates author and long-time children's book publicist Justin Somper has set up Author Profile, a training company aimed at helping authors navigate the media and social networking. Writers including Damian Kelleher,... Continue reading at The Bookseller
[ The Bookseller | 2011-10-21 00:00:00 UTC ]
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#author profile
#social networking
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Releasing a book on one of the worlds largest publishing marketplaces could help your company. Here's a quick guide to the basics of self-publishing. Continue reading at PC World
[ PC World | 2011-10-19 00:00:00 UTC ]
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#quick guide
Specialist magazine publisher Future is launching a new monthly print and digital magazine, N-Photo, next month. Continue reading at Media Week
[ Media Week | 2011-10-12 00:00:00 UTC ]
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#digital magazine
Written By: Benedicte Page Publication Date: Tue, 11/10/2011 - 14:53 Atlantic Books made a loss of £1.8m on turnover of £6.9m in 2010, the company has confirmed. But chief executive Toby Mundy said the publisher was likely to grow 15% on 2010's figures this year and had also reduced its costs... Continue reading at The Bookseller
[ The Bookseller | 2011-10-11 00:00:00 UTC ]
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#corvus imprint
Written By: Philip Jones Publication Date: Tue, 11/10/2011 - 15:33 Publishers must take ownership of selling books or face quickly becoming irrelevant, former Borders UK chief Philip Downer told delegates at Tools of Change Frankfurt today (11th October). Downer said he was concerned that... Continue reading at The Bookseller
[ The Bookseller | 2011-10-11 00:00:00 UTC ]
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#selling books
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Written By: Philip Jones Publication Date: Mon, 10/10/2011 - 14:49 European publishers are becoming less resistant to the "digitisation tsunami" as local distribution networks are built and publishers await the arrival of global players such as Amazon, Apple and Google in their territories. ... Continue reading at The Bookseller
[ The Bookseller | 2011-10-10 00:00:00 UTC ]
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Written By: Paul Rigg Publication Date: Fri, 07/10/2011 - 15:11 The Spanish socialists pledge to reduce ebook VAT (IVA) to 4% has been welcomed by the director of the Spanish ebook platform Libranda. The announcement came from Alfredo Rubalcaba, who is the socialists candidate to become prime... Continue reading at The Bookseller
[ The Bookseller | 2011-10-07 00:00:00 UTC ]
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#prime minister
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Written By: Barbara Casassus Publication Date: Wed, 05/10/2011 - 08:51 Former French culture minister Jacques Toubon has said he has high hopes that France will be able to cut VAT on ebooks from 19.6% to 5.5% next January as planned without triggering the wrath of the European Commission.... Continue reading at The Bookseller
[ The Bookseller | 2011-10-05 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Fri, 23/09/2011 - 09:00 The Independent Alliance has launched a nationwide loyalty card scheme for independent bookshops, with 114 indies signed up so far. Love Your Indie, which will be run in association with the Guardian and Observer as part... Continue reading at The Bookseller
[ The Bookseller | 2011-09-23 00:00:00 UTC ]
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Earlier this week, it was reported that former Reader Digest Associations CEO Tom Williams was awarded $500,000 in a severance package. Continue reading at Folio Magazine
[ Folio Magazine | 2011-09-21 00:00:00 UTC ]
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Written By: Bookseller Staff Publication Date: Mon, 19/09/2011 - 09:39 A primary schools project that has helped thousands of struggling young pupils to read is being axed by the government, according to the National Association of Head Teachers (NAHT). The Reading Recovery Project involves... Continue reading at The Bookseller
[ The Bookseller | 2011-09-19 00:00:00 UTC ]
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#national association
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The long awaited launch of BookRiff, the system that promises to let people mix and match content from various sources to create their own book, is now slated for the end of September. Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-09-16 00:00:00 UTC ]
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Written By: Tom Tivnan Publication Date: Fri, 09/09/2011 - 14:54 Oxford University Press c.e.o. Nigel Portwood has signalled a new strategic direction for the publisher by saying he will be looking to acquire other businesses more ambitiously. read more Continue reading at The Bookseller
[ The Bookseller | 2011-09-09 00:00:00 UTC ]
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Written By: Benedicte Page Publication Date: Fri, 09/09/2011 - 11:02 The nationwide celebration of libraries and librarians that is to be National Libraries Day has been confirmed for Saturday 4th February. Author Alan Gibbons of Campaign for the Book, a prime mover behind the initiative, said... Continue reading at The Bookseller
[ The Bookseller | 2011-09-09 00:00:00 UTC ]
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#4th february
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Written By: Charlotte Williams Publication Date: Mon, 05/09/2011 - 07:30 Chatto & Windus will publish an illustrated edition of its The Hare with Amber Eyes by Galaxy New Writer of the Year 2010 Edmund de Waal, hoping to attract Christmas gift buyers. The book will include more than 100... Continue reading at The Bookseller
[ The Bookseller | 2011-09-05 00:00:00 UTC ]
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