The Meredith Corporation, the publisher of magazines like Family Circle and Better Homes and Gardens, laid off about 100 employees on Tuesday as part of a broader revamping.
The layoffs, which will reduce Meredith's work force to about 3,900, affected employees across all divisions of the company, with the majority coming from its offices in New York and its headquarters in Des Moines.
"We did have a reduction today," said Patrick Taylor, a spokesman for Meredith's National Media Group.
Advertising technologies such as real-time bidding and automated auctions are driving digital revenue downward at Meredith Corp.'s National Media Group, which includes the company's magazines like Better Homes & Gardens as well as websites such as AllRecipes.com.
Digital ad revenue fell 4% at the National Media Group during the quarter ending June 30, Meredith said in an earnings release today. The decline comes despite Meredith's 2012 acquisition of AllRecipes.com, a large website in a popular area, and is partly to blame on the shift to programmatic ad-buying, executives said during a call with analysts to discuss the results.
The 131-year-old "Seven Sister" title Ladies' Home Journal was consigned today to the magazine industry's version of the old folks' home - "special interest publication."
Meredith announced it will discontinue publishing the 3.2-million-circulation magazine as a monthly and transfer its subscribers to other Meredith titles.
The magazine industry is getting off to a rocky start in 2014. While magazine ad pages declined in large part thanks to weakness in two key advertising categories, the tide also appears to have turned for tablet advertising, one of the lone bright spots in recent years.
Print magazine ad pages fell 4 percent in the first quarter of 2014, according to the latest report from the Publishers Information Bureau, a division of the MPA-The Association for Magazine Media.
Although Wall Street mostly yawned when Quad/Graphics announced this week it is acquiring Brown Printing, the pending transaction is a big deal for many major publishers. And it provides some interesting insights into the U.S. printing and publishing industries and even into the U.S. Postal Service.
For publishers of major magazines and catalogs - those with a print order of at least, say, 200,000 copies - the country's third largest magazine printer has been the chief supplier of Duopoly Insurance.
Legacy print publishers are under assault from all sides. Marketers are putting less money into print advertising just as readers are increasingly becoming mobile-first. U.S. consumer magazine circulation revenue declined to $7.5 billion in 2013 from $9.8 billion in 2008, according to PricewaterhouseCoopers.
But publishers are fighting back with big data. More than ever, they're applying science to the numbers to rope in new consumers, keep them engaged and get them to buy more products.
In the latest season of HBO’s “Girls,” the lead character played by Lena Dunham takes a job at a major magazine publisher, writing promotional stories on behalf of an advertiser. Before the season is over, she is out, frustrated the job doesn’t live up to her creative ambitions.
Good Housekeeping is a monster brand for parent company Hearst. The 129-year-old magazine is among its largest in terms of revenue, with more than 4.4 million subscribers. Consumers place enormous trust in the Good Housekeeping Seal.
But it faces a looming challenge, inherent in its very name -- Good Housekeeping?
The moniker is old-fashioned, calling to mind 1950s housewives. It's hardly the kind of image that attracts the younger, modern woman Good Housekeeping must reach to remain vital.
The editing service Grammarly looked at articles in top men's and women's magazines, checking for "spelling, grammar and punctuation errors." The most accurate men's magazine it found was GQ. Ladies' Home Journal was the most accurate women's title. Playboy was No. 4 on Grammarly's list of accurate men's magazines, the same position held by Family Circle on its list of women's mags.
DES MOINES, Iowa and SEATTLE , July 15, 2013 /PRNewswire/ -- Meredith Corporation (NYSE:MDP, www.meredith.com ) , the nation's leading media and marketing company serving 100 million American women, announced today it will launch Allrecipes magazine, a print extension of the company's highly popular Allrecipes.com digital destination. This represents the media industry's first large-scale digital-to-subscription magazine print brand extension.
Allrecipes magazine will be published six times per year with an initial rate base of 500,000. The December 2013 premiere issue will debut in mid-November, just in time for the busy holiday cooking season.