MediaFile

Tuesday media highlights

Here are some of the day’s top stories in the media industry:

U.S. business magazines face a shakeout (Reuters)
Robert MacMillan writes: “Business news publishers rubbed their hands in glee when the financial crisis grabbed headlines last fall, saying the meltdown would deliver a windfall blown in by widespread interest in their stories. It did not turn out that way. Appetite for news does not always translate into revenue, especially at a time when blogs, wire services such as Bloomberg and Thomson Reuters and other outlets crowd into news analysis territory that the big magazines had long claimed.”

McClatchy quarterly profit rises on cost cuts (Reuters)
“U.S. newspaper publisher McClatchy Co reported higher quarterly income on Tuesday because of cost cuts, pushing shares up as much as 67 percent, even as advertising revenue fell by nearly a third. McClatchy, publisher of The Miami Herald and Sacramento Bee, also said it reduced the amount of debt that it owes and sought to reassure investors that it will not violate the terms of its lending agreements,” reports Robert MacMillan.

Economist Group Buys Congressional Quarterly (WSJ)
Kevin Kingsbury writes: “The deal, terms of which weren’t disclosed, will create a new company called CQ-Roll Call Group. Roll Call is owned by the Economist Group, the London-based publisher of its namesake magazine. Roll Call is buying Congressional Quarterly from Times Publishing Co., whose primary operations is the St. Petersburg Times and related assets.”

James Murdoch Approved Payment to Phone Tap Victim (Bloomberg)
“James Murdoch, the son of News Corp. Chairman Rupert Murdoch, agreed to a 700,000-pound ($1.1 million) payment to a victim of phone-tapping by the News of the World, the editor of the company’s newspaper said,” writes Robert Hutton.
> Ex-Murdoch paper editor says phone taps not policy (Reuters)

Conde Nast September Monthlies Lose 1,680 Ad Pages (NYO)
“Vogue
tumbled to 427 pages total, down 36 percent from last September. W is down 53 percent; Allure and Gourmet are down 51 percent; and Self is down 50 percent. Vanity Fair came in just above average for the company, dropping 36 percent,” writes John Koblin.

“Forget her, check out that digital billboard!”

octoberfest.jpgMore than just the cute guy or girl catches your eye at the bar these days.

Nearly 80 percent of people surveyed in a recent study recalled at least one of four advertisements running on digital billboard screens at bars where they were partying. That’s not a bad number considering the audience surveyed by Arbitron and Zoom Media & Marketing — 500 people aged 21 to 34.  That’s a demographic that advertisers love.

It shouldn’t be overlooked that Zoom Media is an advertising company with a big digital presence in bars and nightclubs. Still, the survey suggest that digital billboards really are getting eyeballs.

Another finding from the survey: “Consumers who were exposed to the advertising were much more likely to consider certain brands as category leaders. For example, when asked what they thought the top new video games were, twice as many people were likely to answer Assassin’s Creed — which was one of the commercials used in the survey — compared to those not exposed to the ad.”