Vox Media has confirmed what CNBC reported earlier this week, that it is indeed about to undergo a round of layoffs that will eliminate 72 positions, which accounts for 6% of its total staff of 1,200. In a letter to staff, CEO Jim Bankoff, broke the difficult news to his employees candidly, opening with: “With deep sadness, and as a consequence of the pandemic and its devastating impact on the economy, I am writing to let you know that today we will be informing some of our colleagues that they will no longer have jobs at Vox Media.” According to CNBC, Vox has struggled to generate enough revenue due to the economic downturn that has been caused by the COVID-19 pandemic. At current pace, it is expected to miss its full-year revenue goal by 25%. The publisher, who’s portfolio includes Vox.com, New York Magazine, The Cut, The Verge, Recode, SB Nation, Eater and Polygon and others, was considered a digital publishing role model by many media pundits for its ability to launch new brands and make smart acquisitions that fit into its core business model. But as we’ve seen recently with companies like Atlantic Media and Quartz, two organizations that were also celebrated for their innovative business models, nobody is immune to the current market conditions. According to Bankoff, the coming cuts will be a majority of staffers who were furloughed in May, but some who stayed on through the pandemic will also be laid off. No specifics as of yet to which departments will be... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-07-16 14:53:51 UTC ]
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Business and financial news publisher Bloomberg Media is restructuring its sales and marketing divisions around industries like tech, finance, auto, luxury and consultancy, rather than geography, to streamline operations and strengthen its appeal to advertisers, according to chief revenue... Continue reading at AdWeek
[ AdWeek | 2023-09-28 10:30:00 UTC ]
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Publishers who attended the Digiday Publishing Summit opened up about their top challenges, concerns and curiosities during closed-door, anonymous town hall meetings. Continue reading at Digiday
[ Digiday | 2023-09-21 04:01:00 UTC ]
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The six-book shortlist for this year's Booker Prize for Fiction includes books by the Americans Jonathan Escoffery and Paul Harding. The winner will be announced on November 26. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-21 04:00:00 UTC ]
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During the Digiday Publishing Summit, the COO of VMG’s news and entertainment arm explained how its publishing business plans to bounce back over the next 12 to 18 months. Continue reading at Digiday
[ Digiday | 2023-09-20 04:01:00 UTC ]
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The awards ceremony for the German Book Prize is set for Frankfurt on October 16 before the start of Frankfurter Buchmesse. The post The German Book Prize Announces Its 2023 Shortlist appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-09-19 18:55:02 UTC ]
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Kara Welsh, president of PRH’s Ballantine Group—home of the Ballantine Bantam Dell imprints—announced a number of editorial promotions within the group. Those include the promotion of Kara Cesare to v-p and editor-in-chief of BBD. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-19 04:00:00 UTC ]
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The three-day Publishers Conference professional program this year runs October 29 to 31, just ahead of Sharjah International Book Fair. The post Sharjah Book Authority Announces its 2023 Publishers Conference appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-09-18 17:22:40 UTC ]
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The National Book Foundation is announcing the 2022 National Book Award longlists this week. Five finalists in each of the five categories will be named on October 3, and the winners will be announced during the awards ceremony on November 15. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-13 04:00:00 UTC ]
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The National Book Foundation has revealed the 2023 National Book Award longlist for Young People's Literature. The five finalists will be named on October 3, and the winner will be announced during the awards ceremony on November 15 in New York City. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-13 04:00:00 UTC ]
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'Guernica,' 'Mizna,' 'Orion,' the 'Paris Review,' the 'Los Angeles Review of Books,' 'n+1,' and 'Oxford American' are the winners of this year's Whiting Literary Magazine Prizes. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-12 04:00:00 UTC ]
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25 new novels we think you should read this fall. | Lit Hub Reading Lists Yiyun Li muses on class, money, joy, and luxury—for writers and their characters. | Lit Hub Memoir Where creatives went to play: Jonathan Miles captures the “potent cultural cocktail” of the French Riviera. | Lit Hub... Continue reading at Literrary Hub
[ Literrary Hub | 2023-09-06 10:30:23 UTC ]
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It was a hot summer of activity within the digital media space as publishers experimented with new technology, rode the social media rollercoaster and looked for ways to offset the hits to ad revenue. Continue reading at Digiday
[ Digiday | 2023-08-31 04:01:00 UTC ]
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The unionized employees of the Barnes & Noble location in Hadley, Mass., staged a walkout on August 25 to highlight concerns over understaffing after filing an Unfair Labor Practice complaint. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-28 04:00:00 UTC ]
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Today, the National Book Foundation announced the inaugural recipients of the NBF Teacher Fellowship, “a new initiative to support and celebrate 6th-12th grade teachers using innovative methods to make reading for pleasure a part of their students’ school day experience.” “The NBF Teacher... Continue reading at Literrary Hub
[ Literrary Hub | 2023-08-16 14:00:44 UTC ]
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Revenue fell to a three-year low as insurance carriers downsized their advertising budgets. Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2023-08-16 10:33:50 UTC ]
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Five schools, each located in states affected by book bans, will receive up to $5,000 in diverse titles for students and libraries from We Need Diverse Books. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-15 04:00:00 UTC ]
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Publishers take a collaborative, multiplatform approach in adapting video game IP into comics. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-11 04:00:00 UTC ]
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Comics source storytelling inspiration from all manner of media—video game–based graphic novels are a growing trend, but there have also been recent adaptations from such unexpected originals as a suppressed WWII opera and a 1980s cult classic film. These media tie-ins promise a timely remix in... Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-11 04:00:00 UTC ]
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The deal with KKR, a private equity firm, is said to be valued at roughly $1.62 billion, and could be announced as soon as Monday. Continue reading at The New York Times
[ The New York Times | 2023-08-07 03:00:57 UTC ]
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Lifestyle and comedy publisher Betches, which chronicles dating and pop culture for a predominantly female audience, just introduced digital advertising to its newly redesigned website in late July. The move is part of a broader effort to diversify its business and signal a new chapter for the... Continue reading at AdWeek
[ AdWeek | 2023-08-03 11:50:06 UTC ]
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