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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Local newspaper publisher reports operating profits down 4.3% to £27m in first half to 3 July, but digital audience grows by more than 20%Johnston Press has said it has seen an improvement in trading since issuing a warning to investors that sent its shares tumbling last month, although ad... Continue reading at The Guardian
[ The Guardian | 2015-08-11 00:00:00 UTC ]
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The New York Times Co. posted second-quarter profit that topped analysts' estimates after the publisher cut expenses faster than revenue declined.Earnings excluding some items were 13 cents a share, the New York-based company said in a statement. That compares with the 11-cent average of... Continue reading at Advertising Age
[ Advertising Age | 2015-08-06 00:00:00 UTC ]
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The tech giant is targeting YouTube's clients with a new ad revenue sharing program for video publishers.Facebook has just made another change to its burgeoning video advertising business. Effective today, Facebook is testing out sharing video ad revenue with video partners. The move is similar... Continue reading at Fast Company
[ Fast Company | 2015-07-02 00:00:00 UTC ]
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Scribd has announced to publishers and distributors that it is "making some adjustments, particularly to romance" in its $8.99-per-month ebook subscription service. Continue reading at The Bookseller
[ The Bookseller | 2015-07-01 00:00:00 UTC ]
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Add AOL to the list of publishers that have gone from selling ads to making ads.AOL has created an internal division called Partner Studio that is charged with creating content for advertisers. Both the name and type of work may sound familiar. AOL-owned Huffington Post has its own in-house... Continue reading at Advertising Age
[ Advertising Age | 2015-06-16 00:00:00 UTC ]
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Just as it has for airlines, yield management -- controlling inventory availability in a way that affects prices and maximizes revenue -- will significantly improve revenue for online publishers. A unified yield management platform will give publishers a unified marketplace in which all buyers... Continue reading at Digiday
[ Digiday | 2015-06-10 00:00:00 UTC ]
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Traditional media companies will continue to feel a financial squeeze over the next four years, as flat or declining revenues are expected at magazine and newspaper publishers even as they post gains in digital advertising and subscriptions, a new report shows.Consumer magazine revenue will be... Continue reading at Advertising Age
[ Advertising Age | 2015-06-03 00:00:00 UTC ]
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Time Inc., the nation's largest magazine publisher, now generates 20% of its ad revenue through digital sales, the company said today.The company sold $73 million worth of digital ads in the first quarter, up 1% over the quarter a year earlier, Time Inc. executives told Wall Street investors as... Continue reading at Advertising Age
[ Advertising Age | 2015-05-07 00:00:00 UTC ]
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Two-thirds of the content that people post to Pinterest are originally from businesses, like product images from a retailer's site. But it hasn't been that easy for brands themselves to post that content, let alone pay to promote those organic posts as ads on Pinterest. Pinterest is now trying... Continue reading at Advertising Age
[ Advertising Age | 2015-04-27 00:00:00 UTC ]
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The Holy Grail in the publishing world is to harness our ability to maintain a direct relationship with our customers when using various third-party data providers and applications. Publishers such as us – The Columbus Dispatch & ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-04-07 00:00:00 UTC ]
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2014 acquisitions Profiles International and Crossknowledge helped John Wiley & Sons to a third quarter revenue rise of 5% on a constant currency basis (2% including the impact of foreign exchange), at $465m. However, the company said organic revenue – excluding the impact of the buys - was... Continue reading at The Bookseller
[ The Bookseller | 2015-03-11 00:00:00 UTC ]
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Native advertising was supposed to be marketers’ answer to banner blindness by creating ads that consumers would want to read and share. But by the time a native ad gets through all the necessary approvals and is shaped in a way that can sc ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-03-03 00:00:00 UTC ]
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Newspaper revenue in the UK, the US and Australia is down despite a rise in the company’s overall revenue thanks to book publishing and real estate divisionsDeclining sales, advertising and subscriptions hurt revenues at Rupert Murdoch’s newspaper business in the final quarter of last year, News... Continue reading at The Guardian
[ The Guardian | 2015-02-06 00:00:00 UTC ]
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Facebook continues to do what few digital publishers can pull off: Over each of the last five quarters, the social network has been able to boost revenue even as it sells fewer ads.The ability to raise prices has rocketed Facebook's overall revenue to $3.85 billion in the most recent quarter. In... Continue reading at Advertising Age
[ Advertising Age | 2015-01-29 00:00:00 UTC ]
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With the content marketing and native advertising scene getting increasingly crowded with tech players such as Outbrain, Sharethrough and Nativo, just to name a few, OneSpot thinks it's found an edge on those competitors. The Austin, Texas-based marketing vendor, which has big clients such... Continue reading at AdWeek
[ AdWeek | 2014-11-21 00:00:00 UTC ]
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Google, the biggest seller of online ads, has created a way for publishers to make money without ads.Google on Thursday introduced an invitation-only crowdfunding program called Contributor that lets people pay $1 to $3 each month to visit sites devoid of ads. The Onion, Mashable, WikiHow, Urban... Continue reading at Advertising Age
[ Advertising Age | 2014-11-21 00:00:00 UTC ]
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For decades, ad pages were one of the key metrics for gauging the overall health of a magazine. But as magazine brands have come to encompass more than just a printed product, publishing industry insiders have been looking for new data that better reflect those changes. This week MPA–The... Continue reading at AdWeek
[ AdWeek | 2014-09-29 00:00:00 UTC ]
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At the Digiday Publishing Summit, Trevor Fellows, the Journal's global head of advertising sales, outlined five key elements to making that process less "painful." The post The Wall Street Journal’s guide to making great native ads appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2014-09-19 00:00:00 UTC ]
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In addition to the American contenders Karen Joy Fowler for 'We Are All Completely Beside Ourselves' and Joshua Ferris of 'To Rise Again at a Decent Hour,' other nominees include Richard Flanagan for 'The Narrow Road to the Deep North' and Ali Smith for 'How to Be Both.' Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2014-09-11 00:00:00 UTC ]
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Second-quarter advertising revenue at Time Inc., the nation's largest magazine publisher, increased 3% compared to the second quarter of 2013, the company said Tuesday in its first quarterly earnings announcement since spinning off from Time Warner in June. Growth was driven partly by a 12%... Continue reading at Advertising Age
[ Advertising Age | 2014-08-05 00:00:00 UTC ]
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