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
From editorial assistants to senior VP’s, this is how much people who work in publishing reported earning last year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-10-16 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#publishing industry
#senior vp
Memoirs by the musician and the artist were among the forthcoming books causing excitement at the industry’s international trade eventA memoir from Chinese artist and activist Ai Weiwei, a “devastating” critique of austerity from former Greek finance minister Yanis Varoufakis and a “warts and... Continue reading at The Guardian
[ The Guardian | 2015-10-16 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#largest gathering
#bodley head
#hundred years
#life story
A digital publisher is using Google’s new technology to ensure ads are 100 percent viewable, attempting to eliminate one of the big obstacles in the way of brands shifting more money online. The publisher IDG Communications ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-10-16 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#digital publisher
The Interactive Advertising Bureau today said the digital publishing industry has cared too much about revenues and too little about user experience and needs therefore to accept blame for the rising popularity of ad blockers. So it's launching an effort called L.E.A.N. Ads, with the acronym... Continue reading at AdWeek
[ AdWeek | 2015-10-15 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#content providers
Axel Springer has told the readers of Germany's most popular online news site to turn off their ad blockers or pay a fee as Europe's biggest newspaper publisher steps up efforts to protect advertising income.Readers of Bild.de, the Web version of Europe's top-selling newspaper, have to disable... Continue reading at Advertising Age
[ Advertising Age | 2015-10-13 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#axel springer
#web version
#access content
Facebook is looking to sell retailers on selling more products through Facebook.After rolling out its "buy" button and adding e-commerce shops to companies' Facebook pages, the social network plans to start testing two new ways for merchants to market their wares on the social network, including... Continue reading at Advertising Age
[ Advertising Age | 2015-10-12 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#facebook --
#start testing
Every second counts with often impatient mobile users, so Google wants to help publishers reduce the time it takes their articles to load when viewed on smartphones. On Wednesday, Google launched a program called Accelerated Mobile Pages, or AMP, which speeds up load times by plugging a piece... Continue reading at AdWeek
[ AdWeek | 2015-10-08 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#media brands
#reading experience
#wild west
#ve made
While Facebook's video ad service is still in its infancy -- about 18 months old -- it's already prefered by marketers over YouTube, according to a recent study published by RBC Capital Markets in partnership with Ad Age.Of the 1,000 advertising professionals surveyed, about 11% felt Facebook... Continue reading at Advertising Age
[ Advertising Age | 2015-10-08 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#investment perspective
#25% felt
#video ads
#video advertising
Alarmed by the rise of ad blocking software use, publishers are starting to recognize their contribution to the problem. At Digiday's Europe Publishing Summit in Barcelona this week, leading European publishers talked about the need to restore the reader experience. As News U.K.'s Alessandro de... Continue reading at Digiday
[ Digiday | 2015-10-08 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#uk publishers
#ad blocking
#reader experience
Google on Wednesday introduced a publishing platform designed to make news articles on smartphones load faster, which will compete with similar services from Facebook and Apple.Google's new project, called the "Accelerated Mobile Pages Project," is aimed at loading mobile web pages instantly... Continue reading at Advertising Age
[ Advertising Age | 2015-10-07 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#publishing partners
#daily mail
#conde nast
#huffington post
#vox media
Facebook is instituting something akin to employee performance reviews for app publishers in its ad network, grading how well their inventory achieves advertiser objectives like driving downloads or selling product.The company already uses that information to decide which ad buys it doles out to... Continue reading at Advertising Age
[ Advertising Age | 2015-10-06 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#ad network
#ad buys
#audience network
#ad units
#app developers
It’s a growing problem for ad-supported publishers: How do you get people to stop using ad blocking software? Short of forcing them to see ads they don’t want to, many publishers including The Washington Post and Atlantic are trying to appeal to them with polite entreaties. But some say the soft... Continue reading at Digiday
[ Digiday | 2015-10-06 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#work appeared
#soft-sell approach
#growing problem
#ad-supported publishers
#publishers including
It’s a growing problem for ad-supported publishers: How do you get people to stop using ad blocking software? Short of forcing them to see ads they don’t want to, many publishers including The Washington Post, Atlantic and ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-10-06 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#soft-sell approach
#growing problem
#ad-supported publishers
#publishers including
New research from the U.K.'s Association of Online Publishers shows that 65 percent of publishers count ad blocking as a serious threat. We asked publishers including Condé Nast and the Economist, how to solve the problem. The answers range from a call for industry standards to moving toward a... Continue reading at Digiday
[ Digiday | 2015-10-02 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#industry standards
#display advertising
Newsstand-only title Beekman 1802 Almanac will have a 200,000 circ. The post Meredith Partners with Beekman 1802 to Launch New Magazine appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2015-10-02 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#magazine appeared
The 16-year-old virtual campus bookseller is on target for $100 million in revenue this year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-10-02 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#$100 million
A move from Paris to Los Angeles has bolstered graphic novel publisher Humanoids's standing in the film world. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-10-02 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#publisher humanoids
Traditional publishers, tired of competing with Facebook and Google for digital ad dollars, are taking steps to get more personal with their advertising. Among the big topics discussed during Advertising Week was how media companies like News Corp and Condé Nast are getting into the ad tech... Continue reading at Digiday
[ Digiday | 2015-10-02 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#publishers step
#traditional publishers
#taking steps
#media companies
#ad targeting
The U.S. Copyright Office is soliciting public comments on a massive 234-page report and legislative proposal dealing with one of copyright’s central problems—orphan works. But with a week left in the comment period, librarians and archivists—groups that once supported orphan works... Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-10-02 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#copyright office
#week left
Experience on the buy side and sell side of media brought David Katz to where he is today, running ad solutions at Hearst's Core Audience, the programmatic ad buying division of the publishing giant. The senior director of ad solutions works with hundreds of salespeople, arming them with data... Continue reading at Advertising Age
[ Advertising Age | 2015-09-30 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#core audience
#publishing giant
#senior director
#media world