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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Publishers are getting smarter about their mobile apps, recognizing their mistaken assumptions and altering their app strategies as a result. The post The mistakes publishers make with mobile apps appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2014-11-26 00:00:00 UTC ]
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Web publishers for 15 years have struggled with getting readers to pay for content they are accustomed to acquiring for free. Pay walls have been built and dismantled, print-and-digital packages have launched and often failed, but Google's going to see if viewers are happy to throw coins into... Continue reading at AdWeek
[ AdWeek | 2014-11-21 00:00:00 UTC ]
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The publisher is opening up its ebook lending program to all libraries. Previously, the S&S catalog was available only to those libraries participating in the house's “Buy It Now” merchandising program. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-11-20 00:00:00 UTC ]
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Sam Missingham explains how HarperCollins UK's recent Virtual Sci-fi Festival leveraged new platforms to connect backlist authors with new readers. The post Virtual Sci-Fi Book Festival Makes Backlist Sexy Again appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-11-20 00:00:00 UTC ]
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Buyer beware: Ad analytics platform Pixalate says fraudulent ad networks are increasingly joining open, real-time-bidding (RTB) marketplaces and then selling brands fake space on premium sites like YouTube, The Weather Channel and Yahoo. While the victims think their messages will appear on the... Continue reading at AdWeek
[ AdWeek | 2014-11-19 00:00:00 UTC ]
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Terms of Service ingeniously harnesses the power of comics to keep readers engaged.Terms of Service is a newly published digital graphic novel from Al Jazeera that explores the turbulent relationship technology users today have with services provided by big data companies.Read Full Story Continue reading at Fast Company
[ Fast Company | 2014-11-17 00:00:00 UTC ]
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In the digital age companies should chase audiences rather than revenues, Carla Buzasi, global c.e.o. of WGSN, told the FutureBook conference today (14th November). Speaking about her former role as founding editor of The Huffington Post, Buzasi said: “I didn’t have to think about print [versus... Continue reading at The Bookseller
[ The Bookseller | 2014-11-15 00:00:00 UTC ]
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Every weekday, we bring you the Ad Age/iSpot Hot Spots, new and trending TV commercials tracked by iSpot.tv, a company that catalogs, tags and measures activity around TV ads in real time. The New Releases here ran on TV for the first time yesterday. The Most Engaging ads are showing sustained... Continue reading at Advertising Age
[ Advertising Age | 2014-11-14 00:00:00 UTC ]
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The author of The Gruffalo earned more than JK Rowling and Dan Brown in UK, making her the fourth biggest-selling writer in British historyA dancing chorus of giants and snails, witches and Gruffalos have propelled Julia Donaldson into uncharted territory, as the former childrens laureate... Continue reading at The Guardian
[ The Guardian | 2014-11-14 00:00:00 UTC ]
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Every weekday, we bring you the Ad Age/iSpot Hot Spots, new and trending TV commercials tracked by iSpot.tv, a company that catalogs, tags and measures activity around TV ads in real time. The New Releases here ran on TV for the first time yesterday. The Most Engaging ads are showing sustained... Continue reading at Advertising Age
[ Advertising Age | 2014-11-14 00:00:00 UTC ]
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Bertelsmann has reported its highest revenues in seven years, at €11.82bn for the first nine months of 2014, up 4.3% year-on-year from €11.33bn, with the formation of Penguin Random House among factors contributing "significantly" to the increase. Operating EBITDA was €1.48bn to the end of... Continue reading at The Bookseller
[ The Bookseller | 2014-11-14 00:00:00 UTC ]
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Following the appointment of Sabrina McCarthy as senior v-p, group sales at Perseus Books, part of CEO David Steinberger's restructuring efforts, the publisher announced further reorganization to its sales division. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-11-12 00:00:00 UTC ]
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Alison Rich, v-p and executive director of publicity for Doubleday, will take on the additional role of associate publisher for Knopf Doubleday imprint Nan A. Talese Books. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-11-11 00:00:00 UTC ]
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Authors James Dawson, Damian Barr and Matt Cain are listed in the Independent on Sunday’s Rainbow list of the top 101 LGBT people, published yesterday (9th November). Both Cain and Dawson are new entries this year, with Cain taking the number 62 spot and Dawson coming in at 82. Continue reading at The Bookseller
[ The Bookseller | 2014-11-11 00:00:00 UTC ]
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Jaguar has a clever way to take you inside the plot of its latest villain-themed campaign. Today, the brand is linking print ads in Condé Nast's Vanity Fair, Condé Nast Traveler, GQ and Wired magazines to digital content through the Blippar app for Google Glass and mobile devices. The app is... Continue reading at AdWeek
[ AdWeek | 2014-11-11 00:00:00 UTC ]
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A new breed of independent foreign rights professionals specialized in children’s book rights sales has emerged, and they are finding new homes abroad for kids' literature. The post Expanding the International Rights Market for Children’s Books appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-11-07 00:00:00 UTC ]
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Independent publisher Nosy Crow has published a picture book based on the John Lewis Christmas advertisement for the third time. Monty’s Christmas is a rhyming hardback picture book that tells the story of the advert, in which a young boy finds his a soulmate for his penguin. The advert... Continue reading at The Bookseller
[ The Bookseller | 2014-11-07 00:00:00 UTC ]
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Twenty years ago last month, a team of well-meaning designers, coders and magazine publishers inadvertently unleashed on an unsuspecting world one of the most misguided and destructive technologies of the Internet age: the web banner ad. If th ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2014-11-06 00:00:00 UTC ]
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The Associated Press will continue its efforts to retain U.S. newspaper publishers next year, adding an intermediate service level and a “shared news desk” for increased state coverage, says President and CEO Gary Pruitt. E ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2014-11-04 00:00:00 UTC ]
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Brazil’s Bookcase Literary Agency has made a name for itself after just one year in business by connecting talented, independent authors with international publishers. The post Bookcase Literary Agency Makes a Global Splash with Self-Publishing appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-11-04 00:00:00 UTC ]
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