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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#deeply affected
#uniquely positioned
#renewed growth
#digital publishing
Marc Pritchard has asked a lot from digital media the past two years, but his latest ask may be the hardest to get — civility. In a speech to the Association of National Advertisers Media Conference in Orlando on Thursday, Procter & Gamble Co.’s chief brand officer called for a “New Media... Continue reading at Advertising Age
[ Advertising Age | 2019-04-11 00:00:00 UTC ]
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The London Symphony Orchestra (LSO) is creating a musical performance based on the Elmer book, Elmer’s Walk, to celebrate the patchwork elephant’s 30th anniversary. Continue reading at The Bookseller
[ The Bookseller | 2019-04-11 00:00:00 UTC ]
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#30th anniversary
The veteran media executive helped validate digital media in the eyes of marketers and publishers. His new job will ask him to do something very different. The post ‘A builder and fixer’: New Gizmodo boss Jim Spanfeller is an old school digital media vet appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2019-04-10 00:00:00 UTC ]
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Circle Media Group has sold its interest in one of Europe’s largest book printers, CPI, to a private investor, after less than nine months of ownership. Continue reading at The Bookseller
[ The Bookseller | 2019-04-10 00:00:00 UTC ]
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The United Kingdom joined a growing global backlash against technology companies such as Facebook Inc. and Twitter Inc., proposing fines and bans if social-media platforms fail to curb illegal activity. The government outlined plans for an industry-funded regulator that would police the... Continue reading at Baltimore Sun
[ Baltimore Sun | 2019-04-08 14:25:00 UTC ]
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#technology companies
#zealand attack
#proposing fines
#industry-funded regulator
The United Kingdom joined a growing global backlash against technology companies such as Facebook Inc. and Twitter Inc., proposing fines and bans if social-media platforms fail to curb illegal activity. The government outlined plans for an industry-funded regulator that would police the... Continue reading at Baltimore Sun
[ Baltimore Sun | 2019-04-08 14:25:00 UTC ]
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#technology companies
#zealand attack
#proposing fines
#industry-funded regulator
Hachette has announced the next phase of its publishing series for video game sensation "Fortnite". Continue reading at The Bookseller
[ The Bookseller | 2019-04-04 00:00:00 UTC ]
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Everybody has their own hot take on the media. The coldest eye likely comes from (or probably should come from) those who put their own money on the line. Publicly-traded media companies share a lot of mandatory financial information, but what drives the perspectives of those looking a bit... Continue reading at Folio Magazine
[ Folio Magazine | 2019-04-04 00:00:00 UTC ]
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#market ripe
#high-quality news
Bologna Children's Book Fair organizer BolognaFiere announces a new relationship with Moscow International Book Fair and an homage to author Gianni Rodari. The post Bologna Children’s Book Fair Announces Moscow Book Fair Partnership appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-04-03 00:00:00 UTC ]
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#bologna children
The Economist Group has relaunched its quarterly lifestyle title, 1843, with a new editor and new design, promising deep dives into style, food, travel and technology—feature articles on the topics that might interest readers of the company's flagship magazine, but wouldn't necessarily appear in... Continue reading at Folio Magazine
[ Folio Magazine | 2019-04-02 00:00:00 UTC ]
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#classic app
#visual storytelling
#global circulation
As independent bookstores continue to deepen their ties with romance readers, a group of enthusiast booksellers has announced the first Bookstore Romance Day to be held on August 17, 2019. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-04-02 00:00:00 UTC ]
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#booksellers announce
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Enthuse Group, a specialist international publishing firm, has announced the acquisition of a 51% stake in AA Media Ltd. Continue reading at The Bookseller
[ The Bookseller | 2019-04-02 00:00:00 UTC ]
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#51% stake
As independent bookstores continue to deepen their ties with romance readers, a group of enthusiast booksellers has announced the first Bookstore Romance Day to be held on August 17, 2019. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-04-02 00:00:00 UTC ]
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#booksellers announce
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The Women’s National Book Association has announced the winners of its 2019 Pannell Awards, which are presented annually to two bookstores that enhance their communities by fostering a love of reading. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-03-28 00:00:00 UTC ]
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#presented annually
[caption id="attachment_153707" align="alignright" width="290"] Creative from "Merrell Magic," a custom-content campaign by AIM's Catapult Creative Labs and Backpacker magazine.[/caption] Requiring deeper insights and data, broader access to audiences and agency-like services from publishers,... Continue reading at Folio Magazine
[ Folio Magazine | 2019-03-27 00:00:00 UTC ]
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#email newsletters
Two-year-old female-focused Freeda Media has worked with 150 brands on branded content campaigns, and revenue has seen triple-digit growth. The post Inside Facebook-born Freeda Media’s distributed publishing strategy appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2019-03-27 00:00:00 UTC ]
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Alphabet Inc.’s Google, Facebook Inc. and freedom of speech activists suffered a blow after the European Parliament rubber-stamped new rules that could curb access to online media in Europe. Once in effect, the rules will likely encourage publishers and music and movie producers to pursue money... Continue reading at Los Angeles Times
[ Los Angeles Times | 2019-03-26 00:00:00 UTC ]
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#copyright rules
#online media
#encourage publishers
#movie producers
BNP Media is shuttering five of its trade magazines and merging others in a round of downsizing that will see several employees let go over the coming weeks. Appliance Design, Ceramic Industry, Hotel F&B, Reeves Journal and the Spanish-language Industria Alimenticia will each shut down by... Continue reading at Folio Magazine
[ Folio Magazine | 2019-03-26 00:00:00 UTC ]
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#media brand
#regional magazine
#careful consideration
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Managing director says book chain ‘simply not profitable enough’, as Sally Rooney, Val McDermid and other authors write to protestMore than 1,300 writers including Kerry Hudson, David Nicholls, Sally Rooney, Michael Rosen and Val McDermid have backed a campaign for Waterstones booksellers to be... Continue reading at The Guardian
[ The Guardian | 2019-03-26 00:00:00 UTC ]
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#book chain
#james daunt
#spare time
Welcome to the latest edition of Ad Age Publisher's Brief, our roundup of news from the world of content producers across digital and print. Got a tip? Send it our way. Joining us late? Here's the previous edition.The news from Cupertino: "Apple's string of new subscription services pushes... Continue reading at Advertising Age
[ Advertising Age | 2019-03-26 00:00:00 UTC ]
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#meredith magazines
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#troy young
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