FishbowlDC TVNewser TVSpy LostRemote AgencySpy PRNewser GalleyCat SocialTimes

Posts Tagged ‘ad sales’

Morning Media Newsfeed: Reuters to Cut 3,000 Jobs | NY Post Goes to Trial | NYT Ad Woes

Click here to receive Mediabistro’s Morning Media Newsfeed via email.


Thomson Reuters Beats Wall Street’s Expectations, Plans to Cut 3,000 Positions (JimRomenesko.com)
Thomson Reuters on Tuesday reported a third-quarter profit of 48 cents per share, beating Wall Street expectations by 4 cents. “Our Financial business achieved positive net sales for the first time in more than two years,” CEO Jim Smith tells employees. He adds in his memo: “We will eliminate approximately 3,000 positions as we continue to reduce product and operational complexity across our company.” WSJ The cuts, equivalent to about 5 percent of Thomson Reuters’ workforce of about 60,000, were disclosed on the same day that the financial data and news firm reported a 38 percent drop in third-quarter earnings, due to weaker revenue. The Guardian The news and information company said most of the jobs would be lost from its financial and risk arm, which sells data terminals and other services to investment banks and brokers. The losses are on top of 1,000 cuts announced earlier this year. Including staff leaving and sales of businesses the company’s workforce will shrink by 5,500, or 9 percent, from the start of the year. The Globe & Mail “I think everybody in the world is trying to do more with less,” Smith said. “I don’t think the pressure on costs and keeping them under control is going to lessen. That said, what I hope is this strategy gives us a more predictable path in the future.”

Read more

Mediabistro Course

Freelancing 101

Freelancing 101Learn how to manage a top-notch freelancing career! Starting December 1, you'll hear from our expert speakers on the best practices for launching a freelancing career, from the first steps of self-advertising and marketing, to building your schedule and managing clients. Register now!

Magazine Ad Spending Drops 6.8 Percent in 4Q

Despite The Atlantic’s good news earlier, most of the magazine world is feeling down lately. According to min, ad sales dropped 6.8 percent during the fourth quarter. The downturn hurts because a lot of publishing executives expected things to pick up after ad sales ended in the black last year.

The reasons for the decline are obvious. The economy is tanking, so companies simply aren’t buying as many ads as they had in the past. And while Robin Steinberg, a media buyer at MediaVest, tried to sound optimistic about magazines — the drop “is primarily focused on economic challenges, not necessarily the effectiveness of the platform” — it’s yet another sign that people don’t value print anymore.

But thanks for trying Robin. We appreciate it.

The Sad State Of Business Mag’s Advertising

Following on the heels of the news last week that magazine advertising revenues were down last quarter (big surprise there), we then learned that BusinessWeek was up for sale. Could there possibly be some correlation?

Well, see for yourself. Nat Ives at AdAge.com has put together this depressing chart, marking how ad sales at business magazines — BusinessWeek, Forbes and Fortune — have plummeted over the past decade.

“Since 1999, the number of ad pages the three major business titles booked for the first half of the year has fallen by 64 percent,” Ives reports. “In 1999, BusinessWeek, Forbes and Fortune carried 6,193 ad pages in the first six months of the year. In 2009, that number shrank to 2,204. That means it’s likely the final year tally for the three won’t crack 4,500, a benchmark that all three managed to surpass on their own in 1999.”

Ouch.