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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Just ask Bilbo Baggins — there’s something very appealing about having one ring to rule them all. So it goes with the Facebook Audience Network, which was launched in 2014 to help digital marketers place ads across all mobile apps — not just Facebook’s — using a single platform while making it... Continue reading at Digiday
[ Digiday | 2015-02-18 00:00:00 UTC ]
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Publisher continues exploring the limits of native ads. The post Forbes Puts an Ad on its Cover appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2015-02-18 00:00:00 UTC ]
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Citing the need to develop a new approach to the U.S. market, the U.K. publisher Faber and Faber Ltd. has ended its affiliation with Farrar, Straus and Giroux that created the U.S.-based Faber and Faber Inc. imprint. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-02-17 00:00:00 UTC ]
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The Department for Culture, Media and Sport is investigating whether Lincolnshire County Council is providing a “comprehensive and efficient” library service. The investigation – a preliminary step to enable the Culture Secretary Sajid Javid to decide whether a local inquiry is necessary -... Continue reading at The Bookseller
[ The Bookseller | 2015-02-17 00:00:00 UTC ]
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Ad blocking technology presents a growing threat to digital publishers and ad-tech companies -- and they're starting to pay close attention.Ad blocking technology removes ads from the internet via a browser extension. There are a number of such extensions -- the two most notable being Adblock... Continue reading at Advertising Age
[ Advertising Age | 2015-02-13 00:00:00 UTC ]
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Bertelsmann is to “step up” its investments in the education and digital media sectors in Brazil, China and India. The company will also look to expand its existing activities in the areas of TV production, books, magazines and services in the three countries. Continue reading at The Bookseller
[ The Bookseller | 2015-02-13 00:00:00 UTC ]
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A native ad for Fidelity will appear on the cover of the latest issue of Forbes, which hits newsstands on Monday. The ad is on the actual cover -- it's not part of a foldout or second cover.Forbes was among the first publications to fully embrace native advertising -- a tactic where ads seek to... Continue reading at Advertising Age
[ Advertising Age | 2015-02-13 00:00:00 UTC ]
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David Carr, the well-known media columnist for The New York Times, died at work on Thursday, the paper reported last night. He was 58.Although he often used his Media Equation column to spotlight people doing things right, it also cut to the heart of the players, tactics and forces so vigorously... Continue reading at Advertising Age
[ Advertising Age | 2015-02-13 00:00:00 UTC ]
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The tepid ad market is continuing to give cable networks fits as they work to sell the commercial time they didn't book in the upfront, when advertisers shop for the upcoming TV season. Sales executives have been looking for strong growth in the so-called scatter market after a sluggish upfront... Continue reading at Advertising Age
[ Advertising Age | 2015-02-12 00:00:00 UTC ]
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Libraries in Cardiff have seen a reprieve from the city council, but major cuts to the Library of Birmingham are to go ahead. The ruling Labour group in Cardiff has confirmed that the seven libraries in the city that faced having their funding withdrawn will continue to be run and operated by... Continue reading at The Bookseller
[ The Bookseller | 2015-02-12 00:00:00 UTC ]
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Machines are now selling some print ads at Time Inc.The nation's largest magazine publisher -- owner of People, Time, Sports Illustrated and InStyle -- is letting marketers buy print ads with the same automated technology used to buy digital ads. This type of deal, where a computer facilitates a... Continue reading at Advertising Age
[ Advertising Age | 2015-02-10 00:00:00 UTC ]
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What if there were an ad that you just couldn't draw your eyes from? It's oddly captivating, almost hypnotic, and it would halt your thumb from scrolling farther down your Facebook feed. There's one such creative format that is only now catching on as the digital world's equivalent of the... Continue reading at AdWeek
[ AdWeek | 2015-02-10 00:00:00 UTC ]
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The Associated Press (AP) is expanding its live video offering as digital publishers from across the media spectrum look to show more live video online. Multiple live streams will now be available on AP's digital Video Hub platform, which ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-02-10 00:00:00 UTC ]
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For Thrillist, remnant advertising is non-existent and ads aren't sold programmatically. Instead, the digital publisher embraced ecommerce. That business is now three times the size of its ad business. Continue reading at AdAge.com Continue reading at Advertising Age
[ Advertising Age | 2015-02-10 00:00:00 UTC ]
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Waterstones cut its losses in its last financial year with managing director James Daunt describing it as year of “significant progress” and insisting that the business was edging towards profitability. It is the second consecutive year of reduced losses at Waterstones under Daunt, and includes... Continue reading at The Bookseller
[ The Bookseller | 2015-02-06 00:00:00 UTC ]
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We aslked Dazed Group, News U.K., Mashable and Monrif Group what they think about the ominous subject of ad blocking. The post European publishers assess the threat of ad blocking appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2015-02-06 00:00:00 UTC ]
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News Corp. continues to tout the strength of its legacy newspaper business even though most of the company's growth now stems from expansions in the real estate and book publishing markets. Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-02-06 00:00:00 UTC ]
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Protestors in Cardiff will use National Libraries Day this weekend to raise awareness of cuts facing the city's library service. Campaigners in Birmingham have already announced their own plans to protest on the day, forming a human chain "hugging" the threatened Library of Birmingham. Continue reading at The Bookseller
[ The Bookseller | 2015-02-05 00:00:00 UTC ]
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Protesters will use National Libraries Day on Saturday as a chance to campaign against planned cuts at the Library of Birmingham. Continue reading at The Bookseller
[ The Bookseller | 2015-02-04 00:00:00 UTC ]
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Facebook is allowing a new ad type in its yearly awards: Instagram campaigns. The Facebook Awards started taking submissions last week, and for the first time, Instagram ads are up for consideration, the social network said. This is the fourth year Facebook is hosting the ad awards, and Adweek... Continue reading at AdWeek
[ AdWeek | 2015-02-04 00:00:00 UTC ]
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