Facing what it called "a significant decline in advertising revenues" as a result of the COVID-19 pandemic, Meredith Corp. says it's implementing sweeping pay cuts across 60% of its approximately 5,000 employees, suspending quarterly dividends and withdrawing the 2020 fiscal outlook it communicated to investors on its most recent earnings call in early February. Effective May 4 and continuing through early September, 45% of the company (approximately 2,250 staffers) will have their pay reduced by 15%, while an additional group representing about 750 of the company's highest-paid employees will see pay cuts starting at 20% and ranging up to 40% for president and CEO Tom Harty and the Board of Directors. Salaries for the remaining 2,000 or so employees will not be impacted. Additionally, Meredith says those employees whose salaries are being reduced will be given one day of unpaid leave per week until September 4. Effective immediately, the company is also implementing a wage, salary and hiring freeze as well as "a significant reduction in temporary and freelance usage." "The COVID-19 crisis has created an extremely challenging business environment, including significant advertising campaign cancellations and delays," said Harty in a statement. "While our financial position is strong, given the impact on advertising—which represents approximately half of our revenue mix—we are proactively taking aggressive actions to strengthen our liquidity and enhance our financial... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-04-20 17:45:12 UTC ]
News tagged with:
#homes gardens
#magnolia journal
#sweet july
BuzzFeed's made a name for itself with a cross-platform distribution model that relies heavily on publishing to social platforms. Now, it's looking to leverage that reach for more brand dollars. During a keynote at South by Southwest Interactive, BuzzFeed's marketing chief Frank Cooper unveiled... Continue reading at AdWeek
[ AdWeek | 2016-03-13 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#ad unit
#amy poehler
#small portion
#third-party measurement
With a global reach to 34,000 libraries and institutions, digital library lending service OverDrive expands its service to Germany, Austria and Switzerland. The post OverDrive Expands Ebook Library Lending to Germany, Austria and Switzerland appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2016-03-11 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#global reach
Wiley has reported third quarter revenue of $436m, a 3% decline year-on-year excluding foreign exchange fluctuations (a 6% decline without that exclusion). Continue reading at The Bookseller
[ The Bookseller | 2016-03-11 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#quarter revenue
#6% decline
If you visit Playboy.com between now and St. Patrick's Day (March 17), you'll see ads for Tullamore D.E.W., the blended Irish whiskey. Then, if you jump onto Instagram, you'll be retargeted with a 30-second video commercial from the same marketer. Such retargeting isn't at all new, but... Continue reading at AdWeek
[ AdWeek | 2016-03-08 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#months ahead
#native advertising
#social giant
#social platform
Publishers are divided about what to do about ad blocking, whether it’s follow in the steps of Axel Springer’s Bild and toe the hard line, or unite together and make a stand against to block ad blockers. At Digiday’s Publishing Summit in Bologna this week, we asked Europe's top publishers what... Continue reading at Digiday
[ Digiday | 2016-03-08 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#post europe
#top publishers
#ad blocking
#axel springer
#hard line
#publishing summit
#news uk
At Digital Book World, Kelly Gallagher showed just how effective data analysis can be and how it can help you make decisions that will lead to more book sales. The post Kelly’s Efficiency Index, or Using Data to Make Smarter Publishing Decisions appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2016-03-08 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#make decisions
#book sales
http://www.thebookseller.com/news/baileys-renews-women-s-prize-fiction-sponsorship-323395Kate Atkinson and Hanya Yanagihara are among the 20 longlisted authors for the Baileys Women's Prize for Fiction, announced today. Continue reading at The Bookseller
[ The Bookseller | 2016-03-08 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#prize longlist
#hanya yanagihara
#baileys women
#announced today
Typically it's tougher for paywalled publishers to capitalize on the additional scale the likes of third-party platforms like Facebook can offer. But the Financial Times is "experimenting in earnest" with new ways to unlock the reach potential of the major platforms, but without undermining its... Continue reading at Digiday
[ Digiday | 2016-03-07 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#post reach
#financial times
#third-party platforms
#major platforms
Facebook Atlas, the social platform's ad server that extends far beyond its own site and apps, is getting a few noteworthy updates today. The Menlo Park, Calif.-based company is announcing Offline Actions, which lets Atlas-using marketers upload their own point-of-sale data and view it... Continue reading at AdWeek
[ AdWeek | 2016-03-07 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#social giant
#mobile devices
Formerly regional sales director, Joe Murray has been promoted to associate publisher at Publishers Weekly, while Julia Molino joins the company as regional sales director. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-07 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#associate publisher
Scholastic and the non-profit organization We Need Diverse Books has announced that they are expanding their collaboration in order to put more books by diverse authors with diverse characters into schools. The post Scholastic and We Need Diverse Books Expand Collaboration appeared first on... Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2016-03-07 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#post scholastic
#diverse books
#non-profit organization
#diverse authors
#diverse characters
Mary Beard and James Shapiro are among the authors who have made the English PEN Hessell-Tiltman Prize for History shortlist. Continue reading at The Bookseller
[ The Bookseller | 2016-03-04 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#mary beard
An increasing aversion to online ads amongst British adults is posing a threat to online publishers, new figures show. The latest figures from IAB in conjunction with YouGov reveal that more than one in five British adults, or 22 percent, are now using ad-blockers, representing a four percent... Continue reading at Betanews
[ Betanews | 2016-03-03 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#online ads
#online publishers
#figures show
#latest figures
There are a lot of famous faces in this week’s compilation of new adverts including an appearance for IBM by Carrie Fisher; William H Macy in a Samsung commercial; Benicio Del Toro for Heineken; Joey Essex for Batchelors Cup a Soup; and Prince Charles and the Queen for The Body Shop! And once... Continue reading at The Guardian
[ The Guardian | 2016-03-03 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#carrie fisher
#joey essex
#prince charles
#idle hands
Demand for DC’s Super Hero Girls line has been so high the publisher is adding a second book to the program months before the first book in the series even publishes. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-03 00:00:00 UTC ]
More news stories like this |
These days, it's rare for any publication to double down on print. But that's just what Bloomberg Pursuits magazine is doing, increasing in frequency to six times a year, starting with its March issue.The magazine, which focuses on "intelligent luxury" and goes out to subscribers of the... Continue reading at Advertising Age
[ Advertising Age | 2016-03-01 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#biannual magazine
#bloomberg tv
#march issue
The IAB and YouGov has found that 22 percent of U.K. adults have installed ad blockers, up from 18 percent in October. Although a silver lining for publishers is that 54 percent of users would turn off blockers in order to read content. Martin Ashplant, digital director at the Metro, points out... Continue reading at Digiday
[ Digiday | 2016-03-01 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#post study
#read content
#silver lining
#martin ashplant
#digital director
#john barnes
As Snapchat’s ad platform evolves, the top publishers that helped pioneer advertising there could lose some autonomy to strike their own deals. The messaging and media app wants to stop looking at Discover, where publishers like BuzzFeed, Vox, Cosmo, IGN, MTV and others post daily editions, as... Continue reading at Digiday
[ Digiday | 2016-02-29 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#discover publishers
#post snapchat
#top publishers
#discover channels
#media app
#sources familiar
Canvas ads mimic the features of Facebook's Instant Articles platform.Facebook has officially rolled out its Canvas ad platform. Canvas has been in testing since last year and has often been referred to as "instant ads" because of the way it mimics Facebook's Instant Articles platform for... Continue reading at Fast Company
[ Fast Company | 2016-02-26 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#officially rolled
Native advertising is paying off for writers of the coveted, mobile demographic at Wattpad. Ashleigh Gardner speaks at London Book Fair's (#LBF16) Quantum Conference (#Quantum16) in April. The post Native Ads at a Mecca for Millennials: Wattpad’s ‘Brand Stories’ appeared first on Publishing... Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2016-02-26 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#native ads
#native advertising