Medium founder and CEO Ev Williams disclosed today in a blog post that his four-and-a-half-year-old company is eliminating 50 jobs and shutting down offices in New York and Washington, D.C. In a philosophical letter to the public, he recounted how his team's ultimate goals had gotten off course thanks to the monetization model known as advertising. "We set out to build a better publishing platform—one that allowed anyone to offer their stories and ideas to the world and that helped the great ones rise to the top," Williams wrote. "In 2016, we made big investments in teams and technology aimed at attracting and migrating commercial publishers to Medium. And in order to get these publishers paid, we built out and started selling our first ad products. This strategy worked in terms of driving growth, as well as improving the volume and consistency of great content." While it appears Medium is doing away with its sponsored posts ads product, he wrote that 2016 was his company's best year in terms of key metrics. For instance, published posts jumped roughly 300 percent year over year, and monthly visitors reportedly reached 60 million in December, representing a 140 percent year-over-year increase. Medium, a digital storytelling platform, has even attracted scores of public figures—most notably President Barack Obama—to get their messages out. Meanwhile, publishers of all sizes have been able to try to make money off their Medium stories, which have been sponsored in... Continue reading at 'AdWeek'
[ AdWeek | 2017-01-05 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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This story first appears on FOLIO: sister site, minonline. Meredith Corp. chairman/CEO (since July 2004) Steve Lacy announced that the board of directors approved a $1.02-to-$1.53 per-share increase in the quarterly dividend paid to investors and authorized the repurchase of $100 million of... Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-27 00:00:00 UTC ]
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Written By: Philip Jones Publication Date: Fri, 14/10/2011 - 14:30 Literary agent Andrew Wylie believes a 50% digital royalty rate will become widely accepted by publishers once the digital "shake-out" settles down. Speaking to The Bookseller from the Frankfurter Hof, Wylie said digital... Continue reading at The Bookseller
[ The Bookseller | 2011-10-14 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Thu, 29/09/2011 - 12:08 Hachette UK is opening a sales and marketing office in Dubai to cover the Middle East, with Matt Cowdery taking on the role of sales manager, Middle East. Group commercial director Richard Kitson said: "The establishment... Continue reading at The Bookseller
[ The Bookseller | 2011-09-29 00:00:00 UTC ]
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Written By: Benedicte Page Publication Date: Mon, 05/09/2011 - 13:05 Quercus has bought a children's book by US rapper 50 Cent. Playground, for the 12-plus age group, is a semi-autobiographical novel on the subject of schoolyard bullying. Children's editorial director Roison Heycock bought UK... Continue reading at The Bookseller
[ The Bookseller | 2011-09-05 00:00:00 UTC ]
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Written By: Benedicte Page Publication Date: Mon, 05/09/2011 - 13:05 Quercus has bought a children's book by US rapper 50 Cent. Playground, for the 12-plus age group, is a semi-autobiographical novel on the subject of schoolyard bullying. Children's editorial director Roison Heycock bought UK... Continue reading at The Bookseller
[ The Bookseller | 2011-09-05 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Wed, 24/08/2011 - 14:46 Private Eye is marking its 50th anniversary by publishing a book looking back at the history of the satirical institution. Private Eye: The First 50 Years is written by Adam Macqueen, a journalist on the magazine since 1997. It... Continue reading at The Bookseller
[ The Bookseller | 2011-08-24 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Wed, 24/08/2011 - 08:53 Derwent Bookshop in Cumbria has become the latest independent bookshop to signal its closure, blaming competition from other vendors, the existence of ebooks and internet bookselling for its demise. The Workington-based shop,... Continue reading at The Bookseller
[ The Bookseller | 2011-08-24 00:00:00 UTC ]
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Former Schofield Media employees are still wondering if there is a chance that select brands may be revived after the company shut down last week as a result of lender Wells Fargo pulling financing. Continue reading at Folio Magazine
[ Folio Magazine | 2011-07-28 00:00:00 UTC ]
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Bonnier announced that Sean Holzman is now its chief brand development officer, a newly created role in the company. Holzman comes from Source Interlink Media, where he acted as president of the enterprise division. Continue reading at Folio Magazine
[ Folio Magazine | 2011-06-28 00:00:00 UTC ]
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Written By: Benedicte Page Publication Date: Tue, 31/05/2011 - 11:30 New Cross library remained closed on its scheduled final day of opening, Saturday 28th May, because of council fears that protestors would occupy the building. A council notice fixed to the shutters told library users: "We... Continue reading at The Bookseller
[ The Bookseller | 2011-05-31 00:00:00 UTC ]
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Andy Sareyan, chief brand officer and executive vice president of consumer brands with Meredith Corp., has left the company. Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-24 00:00:00 UTC ]
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Is the time ripe to place a bet on a brighter and profitable future for the grand dame of the publishing world? Continue reading at Editor & Publisher
[ Editor & Publisher | 2011-05-24 00:00:00 UTC ]
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Written By: Philip Jones Publication Date: Fri, 20/05/2011 - 12:10 Random House UK is to publish veteran author Tom Sharpe's backlist digitally after making a direct approach to the author without the involvement of his agent Sonia Land, chief executive of Sheil Land Associates. read more Continue reading at The Bookseller
[ The Bookseller | 2011-05-20 00:00:00 UTC ]
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The New York Times may be starting to experience the price of their paywall, as page views for The New York Times Online fell 24.4 percent in April from March numbers. Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-12 00:00:00 UTC ]
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High-impact ad pages saw a mixed usage among MPA-member magazines in the first quarter of 2011, according to data gathered by Mag Radar. Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-10 00:00:00 UTC ]
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Joining the line of publishers who are entering the e-commerce space is New York magazine and NY.com; theyve announced a New York City-specific online deals program that is set to launch in May. Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-03 00:00:00 UTC ]
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Independent booksellers may have dreaded Borders's arrival in New York City in 1996, but it was Barnes & Noble that tried to keep its longtime rival out by leasing every available 40,000-sq.-ft. space on its home turf. Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-04-25 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Thu, 21/04/2011 - 15:43 W H Smith plans to open 50 stores in specially identified UK catchment areas over the next six years, with a "pragmatic" international expansion programme also planned. The high street retailer has bought 22 former British... Continue reading at The Bookseller
[ The Bookseller | 2011-04-21 00:00:00 UTC ]
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The New York Times today introduced its new digital subscription plan for charging the heaviest users of its site. The plan takes effect with readers in Canada today, and in the U.S. and the rest of the world on March 28. The plan offers three digital subscription plans across a variety of devices. Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-18 00:00:00 UTC ]
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