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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A new ebook co-authored by Wharton professor Kevin Werbach offers ideas for using game elements to engage customers, employees and others. Continue reading at Knowledge@Wharton
[ Knowledge@Wharton | 2015-06-26 00:00:00 UTC ]
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For advertisers and online publishers, combating ad fraud today is akin to a retailer trying to fight shoplifters by catching them in the act. But one ad- tech company has come up with an approach that's more like bouncing shoplifters before they can even enter the store.Ad-fraud prevention firm... Continue reading at Advertising Age
[ Advertising Age | 2015-06-23 00:00:00 UTC ]
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Catalonia, which sits in the northeast region of Spain, counts 7 million inhabitants. But, with a population that reads as readily in Spanish as it does in Catalan, local publishers face numerous hurdles. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-06-23 00:00:00 UTC ]
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As mobile usage and ad spend continues to climb, a handful of new reports show how far it can go. By 2018, mobile ad spend will overtake that of desktop, according to a recent report from PwC. ZenithOptimedia says that that growth will come at the expense of newspapers, magazines and even... Continue reading at Digiday
[ Digiday | 2015-06-23 00:00:00 UTC ]
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Abril Educação has acquired Editora Saraiva in a deal that brings together the two largest publishing operations in Brazil. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-06-22 00:00:00 UTC ]
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Digital Comics marketplace Comixology has renewed its exclusive sales agreement with Marvel Comics, and expanded the deal to include sales via Amazon's Kindle Platform. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-06-19 00:00:00 UTC ]
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Ello's mobile app will hit the Apple App store Thursday, about eight months after the ad-free social network launched as an invite-only alternative to Facebook. Continue reading at Los Angeles Times
[ Los Angeles Times | 2015-06-18 00:00:00 UTC ]
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Amazon's domination of digital comics distribution continues with Marvel's new deal to sell single issues through Kindle.Last April, Amazon took steps to own the comic book industry's digital transition by purchasing comiXology, the leading platform for buying and reading digital comics. Today... Continue reading at Fast Company
[ Fast Company | 2015-06-18 00:00:00 UTC ]
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Artist Jonathan Case shares an exclusive look at the art process for 'The New Deal,' his historical graphic novel due this fall from Dark Horse. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-06-17 00:00:00 UTC ]
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A Kindle is no match for the Italian artist and graphic designer's mixed-media tomes.With some books, reading on a screen is virtually the same as on paper. Swipe or turn a page and you'll see words organized into sentences organized into paragraphs organized into chapters. Not so with the work... Continue reading at Fast Company
[ Fast Company | 2015-06-17 00:00:00 UTC ]
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Google is bringing a clearer picture of advertising to the mobile world with three tech advancements it announced at a company conference in the Florida Keys today. With Neal Mohan still at the helm of the display ad business, Google unveiled new services that help advertisers more effectively... Continue reading at AdWeek
[ AdWeek | 2015-06-17 00:00:00 UTC ]
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Although marketers continue to shift print budgets to digital media, most magazine companies still generate the bulk of their revenue from selling print ads. About 20% of Time Inc.'s ad revenue, for instance, comes from selling digital ads. But industrywide the shift from paper is underway, with... Continue reading at Advertising Age
[ Advertising Age | 2015-06-17 00:00:00 UTC ]
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Bonnier Publishing is looking to expand its fiction division and is recruiting for five managerial roles. The division, which includes children’s imprints Hot Key Books and Piccadilly Press and adult fiction imprints Zaffre and Twenty7, is looking to hire a director/head of export sales, key... Continue reading at The Bookseller
[ The Bookseller | 2015-06-13 00:00:00 UTC ]
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Life is about to get that little bit harder for digital publishers, thanks to Apple. Continue reading at Stuff
[ Stuff | 2015-06-13 00:00:00 UTC ]
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I started the year with a problem: small news organizations don’t have enough time to keep their digital publishing and ad sales practices up to date. This is how I started to develop a solution. At the end of January 2015, I b ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-06-11 00:00:00 UTC ]
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Reuters, citing "the unprecedented shift to digital publishing and online news consumption," is making some of its original news content—text, pictures, video and multimedia packages—available for free to publishers, the c ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-06-10 00:00:00 UTC ]
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I spent this past weekend in Philadelphia at the Local Independent Online News Publishers conference with local journalists and publishers from around the United States. Speakers discussed everything from online audience trends, revenue generation id ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-06-10 00:00:00 UTC ]
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Google’s buy button and other mobile tech can allow advertisers to leave behind the “spray and pray” approach of days gone byLike many children of the 1970s, I spent many hours immersed in the futuristic visions of the comic book 2000AD, whose Judge Dredd stories were compellingly dystopian. One... Continue reading at The Guardian
[ The Guardian | 2015-06-10 00:00:00 UTC ]
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Global newspaper circulation revenues are larger than newspaper advertising revenues for the first time this century, according to the annual World Press Trends survey released Monday by the World Association of Newspapers and News Publishers (WAN-IF ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-06-02 00:00:00 UTC ]
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Snapchat has been a lot more ad friendly of late. It still lacks some features brands love—giving users an easy way to follow their accounts and like their content, for instance—but it finally implemented the ability to share. Sharing is limited to the Discover section, where 12 digital... Continue reading at AdWeek
[ AdWeek | 2015-05-27 00:00:00 UTC ]
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