Publisher of Financial Times operating profits grow to £55m in 2013 as owner Pearson announces overall slump of 21%Pearson has reported a 21% slump in its overall operating profit for 2013, as its core US education business continues to be hit by the "worst trading conditions" seen in decades. However, profits at the company's FT Group, home of the Financial Times, were up 17% to £55m.FT Group, which includes the Financial Times and Pearson's 50% stake in the Economist Group, reported sales of £449m, down 1% year-on-year, but operating profits were up 17% on 2012.Pearson chief finance officer Robin Freestone said that the FT is a profitable entity in its own right.Digital subscribers to FT.com grew 31% year-on-year to 415,000 and now represent almost two-thirds of the FT's total paying audience, powered by a 60% upsurge in corporate users.THE HTML app, which launched in 2011 and bypasses Apple iTunes so as to have a direct relationship with readers, was performing "extremely well", the group said.Mobile now accounts for nearly a quarter of all new subscriptions at the FT, it added.FT.com digital subscriptions of 415,000, more than offset the planned reductions in print circulation, the group said.However, the group said print advertising continued to be short-term and "generally weak", though the FT increased its market share with luxury and financial sectors.Overall, advertising revenues accounted for 37% of FT Group revenues in 2013, compared to 52% in 2008.Recent... Continue reading at 'The Guardian'
[ The Guardian | 2014-02-28 00:00:00 UTC ]
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HarperCollins UK has seen a 66% drop in profits for the year ending 30th June 2013, according to... Continue reading at The Bookseller
[ The Bookseller | 2014-01-02 00:00:00 UTC ]
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Lonely Planet saw turnover marginally decrease in 2013 but its profit rose by 17.6% to £663... Continue reading at The Bookseller
[ The Bookseller | 2014-01-02 00:00:00 UTC ]
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Value of film and TV downloads, streams and subscriptions rises to £621m, and number of tracks streamed doubles to 7.4bnAfter five years of decline, sales of entertainment products such as music, films and video games were growing again last year because of booming digital services such as... Continue reading at The Guardian
[ The Guardian | 2014-01-01 00:00:00 UTC ]
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Molhem Barakat, a freelance photographer reputed to be just 17 years old, has been killed while covering the conflict in Syria.He died on Friday (20 December) in Aleppo during a battle at Kindi hospital between rebel groups and forces loyal to the president, Bashar al-Assad.Dozens of Barakat's... Continue reading at The Guardian
[ The Guardian | 2013-12-24 00:00:00 UTC ]
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In her year-end letter to employees, Simon & Schuster CEO Carolyn Reidy said that the publisher is on track to “deliver record profits, a healthy gain in revenues, and our best-ever margins.” Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-12-23 00:00:00 UTC ]
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Revenue at Scholastic rose 1.5% in the second quarter ended November 30, to $623.2 million, and net income declined to $58.3 million from $61.8 million in the second quarter of fiscal 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-12-19 00:00:00 UTC ]
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A Switzerland-based standards group wants to stop the madness of having a different charger for every laptop, and will publish a technical specification for universal laptop chargers early next year. The specification from the International Electrotechnical Commission will cover “a wide range of... Continue reading at PC World
[ PC World | 2013-12-18 00:00:00 UTC ]
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A customer representing the Poarch Band of Creek Indians walked into Barnes & Noble in Spanish Fort, Ala., and bought an entire display in the children's section. As a result, nearly 500 children in the tribe will receive at least one new book this holiday season. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-12-17 00:00:00 UTC ]
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Daily Mail and Daily Mirror parent companies to get share of weather information business's €190m sale to General AtlanticThe owners of the Daily Mail and Daily Mirror are among a group of publishers sharing a pre-Christmas windfall of £50m, thanks to PA Group's €190m (£126m) sale of its weather... Continue reading at The Guardian
[ The Guardian | 2013-12-16 00:00:00 UTC ]
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The charitable arm of education publisher Pearson, the Pearson Foundation, will pay $7.7m (... Continue reading at The Bookseller
[ The Bookseller | 2013-12-13 00:00:00 UTC ]
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News Corp. is looking for a buyer for its Brooklyn-based local newspaper operation. Capital has learned that the global publishing conglomerate, which also owns The Wall Street Journal and the New York Post, has issued a prospectus to potential b ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-12-11 00:00:00 UTC ]
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Barnes & Noble has turned a profit in its second quarter of trading, but sales in its Nook... Continue reading at The Bookseller
[ The Bookseller | 2013-11-26 00:00:00 UTC ]
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Sales for the third quarter ended November 2 at Books-A-Million fell 3.5%, to $100.4 million, and its net loss deepened to $7.1 million, from $2.8 million in the third period of 2012. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-11-26 00:00:00 UTC ]
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Barnes & Noble returned to a profit in the fiscal second quarter as it invested less in its Nook ebook reader and cost cuts offset lower sales.Its sales missed expectations, however, and its shares dropped more than 3% in premarket trading. The report comes as the crucial holiday season... Continue reading at Crains New York
[ Crains New York | 2013-11-26 00:00:00 UTC ]
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The Quarto Group has completed the consolidation of its three London offices into two, with a... Continue reading at The Bookseller
[ The Bookseller | 2013-11-14 00:00:00 UTC ]
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Spurred by revelations of how the National Security Agency is collecting information on citizens, the Campaign for Reader Privacy has issued a statement calling for Congress to pass the USA Freedom Act. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-11-14 00:00:00 UTC ]
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HarperCollins reported a decline in quarterly revenue with total sales down 7%, to $328 million, for the first period ended September 30, 2013. EBITDA, however, rose 8%, to $43 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-11-11 00:00:00 UTC ]
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Simon & Schuster has reported a third quarter revenue rise, said to reflect the rise in... Continue reading at The Bookseller
[ The Bookseller | 2013-11-07 00:00:00 UTC ]
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At Books in Browsers 2013, the summit kicked off with several discussions about how readers, both as consumers and creators of content, are transforming the book publishing industry. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-10-25 00:00:00 UTC ]
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OpenGate Capital, a global private buyout firm, splashed into media with the acquisition of TV Guide Magazine five years ago. Continue reading at Folio Magazine
[ Folio Magazine | 2013-10-24 00:00:00 UTC ]
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