Just two months after the company's fiscal 2019 earnings report saw its share price tumble 23% in a single day, Meredith Corp. revealed a somewhat optimistic forecast for the company's print magazine business in its Q1 2020 report, covering the period from July 1 to September 30. On an earnings call Thursday morning, executives said that while the company plans to center much of its investment around video and e-commerce going forward, it's also predicting rebounds in both newsstand revenue and print advertising for a magazine portfolio that's been streamlined through a series of divestments, frequency changes, repositionings and new launches over the past two years. Overall, Meredith maintained the more conservative outlook that it originally communicated in September at the end of its 2019 fiscal year, saying it still expects earnings from continuing operations to range from $197 to $212 million over fiscal 2020, or $2.58 to $2.88 on a per-share basis. In the national media group, which houses all of the company's magazines and related digital brands, Meredith reported an operating profit of $28 million for the quarter, up from $18.1 million a year ago, even as overall Q1 revenue slipped from $560.6 million last year to $532.9 million this year. The company says it reduced the group's expenses by a further 7% over the last three months, after spending much of the past two years selling off non-core assets and trimming staff in less profitable areas of the... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2019-11-07 19:16:37 UTC ]
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In another indication that consumers may be doing their holiday shopping early, unit sales of print books rose 12% last week over 2020. All major categories had increases. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-11-05 04:00:00 UTC ]
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Amazon has seen huge gains in sales and profits since the pandemic began, but growth in the third quarter was a modest 15%. The company is spending billions to cope with supply chain issues and labor shortages. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-10-29 04:00:00 UTC ]
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Dear Readers, In what feels like a never ending cycle of disappointing media news, last week we in the literary community were astonished to learn that after two decades The Believer magazine will discontinue publication. (Since 2017, The Believer has been published by the Black Mountain... Continue reading at Electric Literature
[ Electric Literature | 2021-10-28 11:05:00 UTC ]
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Hachette UK saw its revenues fall 3% in the third quarter of 2021 compared to the same period last year, although c.e.o. David Shelley said sales were still “extremely strong" and ahead of forecasts, with increased market share. Continue reading at The Bookseller
[ The Bookseller | 2021-10-27 21:59:40 UTC ]
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Unit sales of print books rose 2.7% for the week ended Oct. 16, 2021, over the comparable week in 2020, at outlets that report to NPD BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-10-22 04:00:00 UTC ]
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A small gain in adult nonfiction and more fiction increases led to a 2.7% increase in unit sales of print books last week over the comparable week last year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-10-21 04:00:00 UTC ]
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Welcome to Day 2 of Ad Age’s special edition Advertising Week newsletter. Whether you’re attending in-person at Hudson Yards or from the comfort of your home office, many marketers will likely be glad to see the return of Advertising Week New York. One of the biggest ad industry events has... Continue reading at Advertising Age
[ Advertising Age | 2021-10-20 13:34:45 UTC ]
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Publishers shared insights at the Digiday Publishing Summit at the end of September in Miami. The post Publishing Summit Recap: Publishers establish infrastructure to future-proof data sets appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2021-10-19 04:01:00 UTC ]
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Gains of 26% in both the adult fiction and young adult fiction categories combined to increase total unit sales of print books by 2% last week over the comparable week in 2020. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-10-15 04:00:00 UTC ]
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Unit sales of print books rose 2% in the week ended Oct. 9, 2021, over the comparable week in 2020, at outlets that report to NPD BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-10-15 04:00:00 UTC ]
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The time for a business-as-usual approach to the climate has long since passed, argues author, academic and activist Timothy Morton, and urgent steps need to be take to maintain a planet we can not only survive on, but thrive on. Continue reading at The Bookseller
[ The Bookseller | 2021-10-14 20:35:24 UTC ]
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Hearst builds a Youth + Wellness Group Airship to show advertisers potential opportunities for virtual, co-branded experiences that can reach young female gamers. The post Hearst launches blimp in the metaverse in a bid to show advertisers virtual co-branded opportunities appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2021-10-08 04:01:00 UTC ]
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The time has come for school librarians and their allies to abandon their traditional advocacy toolkits and to act boldly to secure the future of the profession. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-10-08 04:00:00 UTC ]
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The New Futures Initiative - launched at the end of September and announced in The Bookseller - is a scheme to reach out to individuals from underrepresented groups and encourage them - through mentoring and tangible support - to open a bricks and mortar bookshop. Continue reading at The Bookseller
[ The Bookseller | 2021-10-07 16:15:45 UTC ]
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Dotdash, the digital publisher owned by IAC, announced Wednesday evening that it has reached an agreement to acquire Meredith Corp., a holding company whose titles include iconic properties like People, Southern Living and Better Homes & Gardens. Dotdash will purchase Meredith at a price of... Continue reading at AdWeek
[ AdWeek | 2021-10-06 22:53:29 UTC ]
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The 12 winners have been revealed for this year's Creative Future Writers’ Awards, celebrating prose and poetry from underrepresented writers. Continue reading at The Bookseller
[ The Bookseller | 2021-09-28 13:27:24 UTC ]
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Unit sales of print books fell 3.6% in the week ended Sept. 18, 2021, from the comparable week in 2020, according to NPD BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-09-24 04:00:00 UTC ]
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Unit sales of print books fell 3.6% last week compared to 2020. The pattern was a familiar one—higher fiction sales offset by declines in nonfiction. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-09-23 04:00:00 UTC ]
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As the agency develops plans for exploring the moon and Mars, it's seeking cutting-edge research that could turn science fiction into reality. Continue reading at Wired
[ Wired | 2021-09-22 21:04:50 UTC ]
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Pupils will learn about footballer’s use of social media to highlight social and race issues he cares aboutMarcus Rashford’s much-lauded use of social media to pursue his campaign against child food poverty and persuade the UK government to expand free school meals is to be studied by pupils... Continue reading at The Guardian
[ The Guardian | 2021-09-22 08:45:43 UTC ]
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