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 ]
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Mental Floss incorporates a Toyota-sponsored takeover into its December issue, boosts revenue over a standard issue by almost 40 percent. The post How One Publisher Handles Native Ads in Print appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2015-12-08 00:00:00 UTC ]
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A 60-year-old publication will be one of the new kids on the NewFronts block in 2016. Playboy will be among the 37 presenters during the fifth Digital Content NewFronts, where publishers make their case for a slice of the $3 billion digital-video advertising pie. Joining Playboy as first-time... Continue reading at AdWeek
[ AdWeek | 2015-12-08 00:00:00 UTC ]
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In-image advertising will arrive across the publisher's digital portfolio. The post Time Inc. Partners with GumGum to Overlay Ads on Images appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2015-12-04 00:00:00 UTC ]
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London Assembly members call on mayor to complain to chief executiveA motion attacking the regional newspaper publisher Newsquest/Gannett for its cutbacks has been tabled for discussion at tomorrow’s (Friday’s) London Assembly.The motion, which criticises job cuts at a range of London weekly... Continue reading at The Guardian
[ The Guardian | 2015-12-01 00:00:00 UTC ]
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Mitzi Angel has acquired a biography of eight women who worked in Mecklenburgh Square, London, during the interwar period as her first acquisition for Faber. Continue reading at The Bookseller
[ The Bookseller | 2015-12-01 00:00:00 UTC ]
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Trinity Mirror has come a long way digitally in the last year. Its acquisition of Local World last month makes it the biggest U.K. newspaper publisher and it expects to double its digital ad sales, which were £16.6 million ($25 mi ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-12-01 00:00:00 UTC ]
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Digital publishers are looking for all kinds of alternatives to the traditional banner ad. They've typically looked at new ways of fusing editorial and advertising -- sponsored articles, branded videos, etc. -- but Mashable has come up with a way to add e-commerce to the mix.On Cyber Monday... Continue reading at Advertising Age
[ Advertising Age | 2015-11-25 00:00:00 UTC ]
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The Publishers Association said it is “not expecting good news” from the Chancellor’s Spending Review tomorrow, while library campaigners have warned that further cuts to local councils could “all but destroy the public library service as we know it.” Continue reading at The Bookseller
[ The Bookseller | 2015-11-24 00:00:00 UTC ]
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The convergence of digital and linear business models and operations may be the hottest and most important strategic topic in the digital ad business today. Certainly, it is changing how major stakeholders -- publishers and media properties, brands, advertisers and agencies -- view the... Continue reading at Advertising Age
[ Advertising Age | 2015-11-23 00:00:00 UTC ]
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As phones grow to become an overwhelming majority of traffic, content has become increasingly aimed at playing the numbers gameThe internet was meant to be an amazing engine for invention and diversification in media. With the barriers to entry toppling, anybody could become a publisher, and,... Continue reading at The Guardian
[ The Guardian | 2015-11-21 00:00:00 UTC ]
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Does reading self-help books make a reader more stressed out and depressed – or are stressed, depressed people simply more likely to read self-help books? A study suggests either could be true. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2015-11-20 00:00:00 UTC ]
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For any brands still looking to do some holiday shopping, Facebook is making a list of people whose attentions they might want to buy.Starting on Thanksgiving and running through New Year's Day, Facebook and its photo-sharing app Instagram will let brands target ads to people who publish posts... Continue reading at Advertising Age
[ Advertising Age | 2015-11-20 00:00:00 UTC ]
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Facebook wants to help ease the burn of a breakup.The social media giant introduced new tools Thursday on its mobile app to help users see less of their exes.Now when you change your relationship status to “single,” Facebook will ask if you want to “take a break” from seeing pictures and posts... Continue reading at Los Angeles Times
[ Los Angeles Times | 2015-11-20 00:00:00 UTC ]
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Norwegian Wood, a lavishly illustrated how-to guide for chopping, stacking and burning, sets book charts on fire and cuts Jamie Oliver down to sizeA practical guide to chopping, stacking and burning wood the Norwegian way, detailing everything from the drying time of a birch tree felled in... Continue reading at The Guardian
[ The Guardian | 2015-11-16 00:00:00 UTC ]
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SilverDell Bookshop is to close after 15 years operating as a bookshop and ice cream store in Kirkham, Preston, but its owner Elaine Silverwood is set to continue as a freelance events organiser. Continue reading at The Bookseller
[ The Bookseller | 2015-11-16 00:00:00 UTC ]
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Jeanette Winterson has said that as a society "we've got our values all wrong" as she warned against further cuts to the arts ahead of the Chancellor’s autumn statement on 25th November. Continue reading at The Bookseller
[ The Bookseller | 2015-11-14 00:00:00 UTC ]
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Sainsbury’s has released its flagship Christmas television advert featuring children’s author Judith Kerr’s Mog character at its heart, in a bid to raise funds for Save the Children’s literacy campaign. Continue reading at The Bookseller
[ The Bookseller | 2015-11-13 00:00:00 UTC ]
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If you were wondering what Facebook's $2 billion Oculus Rift might mean for advertisers, we may have just been given a sneak peek. Today, the Menlo Park, Calif.-based company debuted the first virtual reality-style video ads for AT&T, Nestle, Mondelez and Samsung, among others. In... Continue reading at AdWeek
[ AdWeek | 2015-11-13 00:00:00 UTC ]
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Facebook is experimenting with new advertising approaches for its Instant Articles platform after publishers encountered challenges generating ad revenue because of restrictions imposed by the social network. Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-11-12 00:00:00 UTC ]
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"360-degree marketing" has been an industry buzzword for years, but what about 360-degree advertising?Facebook is starting to test 360-degree video ads with a handful of brands including AT&T, Samsung and Nestle, all of which can be seen below. Facebook officially introduced the virtual... Continue reading at Advertising Age
[ Advertising Age | 2015-11-12 00:00:00 UTC ]
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