In a turbulent year for print titles, only ten magazines managed to show a positive gain for the number of their ad pages. According to min Online, five of those titles happen to belong to the Meredith Corporation, including Family Circle, Better Homes and Gardens, Ladies’ Home Journal, Fitness, and More.
Posts Tagged ‘Advertising Age’
Meredith Corp., publisher of Better Homes and Gardens and Ladies’ Home Journal, released its first quarter 2010 earnings results this morning, reporting revenues were down to $332 million during the quarter, compared to $364 million last year.
However, the company’s national media group saw profits rise 14 percent to $39 million, although revenues dropped to $272 million during the quarter compared to $294 million during the same period last year. Advertising revenues also dropped five percent to $137 million, although the company was quick to point out that the first quarter was “the third consecutive quarter of advertising performance improvement.”
Last summer Meredith Corp, publisher of Better Homes and Gardens and Ladies’ Home Journal, was in dire straights. Before we knew of the great magazine downturn, Meredith was doing frantic damage-control after letting go dozens of employees over the summer, as well as the folding of Country Homes in January of ’08.
That’s why Meredith’s extensive turnaround has earned the corporation Publisher of the Year award from Advertising Age.
Advertising Age‘s Simon Dumenco expressed his distaste for the Mirror Awards and Arianna Huffington earlier this week, but we think he would have a hard time finding fault in this new journalism award.
Starting in July, the Sidney Hillman Foundation will present “The Sidney,” an award honoring socially-conscious journalism, every month. The winner, which can be a magazine, newspaper, Web site, photo essay or any broadcast outlet, will win $500 and “a bottle of union-made wine,” the foundation said. Nominations can be submitted through the foundation’s Web site.
Meanwhile, the debate about Huffington’s legitimacy as the recipient of this year’s Fred Dressler Lifetime Achievement Award at the Mirror Awards luncheon next week continues. Yesterday, Richard Prince interviewed Lorraine Branham, dean of the Syracuse University’s S.I. Newhouse School of Public Communications, which presents the Mirror Awards, who stood by the school’s decision to honor Huffington.
“I spent 25 years in the newspaper business and I certainly believe journalists should be paid for their work,” Branham said, according to Prince’s online column Journal-isms. “But I am also a realist who can plainly see what is happening to the profession I know and love. It has changed and will continue to do so, and at a frightening pace…The old revenue model is in shambles and I don’t think we can lay the blame for this at the doorstep of the Huffington Post.”