Just when you think things can’t possibly get any worse for newspapers, it somehow manages to get even bleaker. Today’s example is provided by the Washington Post Co and its flagship paper (and the online site Slate). The company reported third quarter earnings including results from its newspaper division today.
Print advertising revenue fell 20 percent to $57.6 million — quite a stunning plunge even as newspapers across the U.S. manage to post quarter after quarter of print ad revenue declines. Even more disturbing is that online revenue, which includes washingtonpost.com and Slate, plunged 14 percent to $23.3 million. Display online ad revenue dropped 17 percent.
Nov 3 (Reuters) – Barry Diller’s IAC/InterActiveCorp reported a higher-than-expected third-quarter profit
and said it would pay its first regular dividend.
Shares of the Internet holding company, parent of dating
site Match.com, search engine Ask.com and media site
CollegeHumor, rose 7.7 percent in morning trading on Thursday.
(Reuters) – AOL Inc’s third-quarter revenue dropped 6 percent because of its dwindling dial-up Internet access business though it beat analysts expectations and its stock rose more than 11 percent.
The company reported on Wednesday revenue of $531.7 million, ahead of analysts’ estimates of $524 million, according to Thomson Reuters I/B/E/S.
(Reuters) – Thomson Reuters Corp Chief Executive Tom Glocer, under pressure from the board to improve the company’s performance, said it may take until 2013 for the benefits of a recent reorganization to fully kick in.
“We’re not magicians,” Glocer said in an interview after the company reported a higher-than-expected rise in third-quarter profit and revenue.
(Reuters) – Thomson Reuters Corp reported a higher-than-expected 10 percent rise in third-quarter profit as strength in its Professional division offset weakness in its Markets business.
The news and data provider, which has announced several reorganizations in recent months, reaffirmed its outlook for 2011 as its margins improved.
NEW YORK (Reuters) – The crowded advertising technology sector may be about to shake out some losers.
With north of 150 companies — according to consultant and investment banker Luma Partners — in the relatively new online advertising industry, there are simply too many competitors seeking too much of a return on capital.
Some outfit called General Sentiment has set about the task of evaluating the media value of top global brands and then ranking those companies accordingly. Some brands made their way up the list because they ousted their head honcho.
To compile the rankings General Sentiment monitors the news, blogs, tweets and other social media for a brand’s “buzz” — negative or positive — to calculate the estimated cost to generate the same media exposure through traditional advertising.
There is some heartening data and some other data that should strike fear in the hearts of publishing executives about how people consume news on tablet devices, according to a new study from the Pew Research Center’s Project in Excellence in Journalism and the Economist Group.
Let’s get to the rosy stuff first. The survey polled about 1,200 tablet users and 900 people who use them to read the news. It turns out that consuming news — defined as skimming headlines to hunkering down and reading long-form articles – is one of the most popular tablet activities (at 53%) nearly edging out sending emails (at 54%) but definitely whopping social media activity (39%), gaming (17%), reading books (17%) and watching videos (13%).
(Reuters) – The New York Times Co said the number of subscribers to its flagship digital products increased in the third quarter though overall advertising revenue at the company slid sharply.
Paid digital subscribers at the nytimes.com and related digital products was 324,000 at the end of the third quarter, compared with 281,000 subscribers at the end of the second quarter.
Dropbox, one of the most watched companies in Silicon Valley, officially announced on Monday that it raised an astounding $250 million in a Series B round led by Index Ventures, reportedly valuing the virtual file cabinet company at a whopping $4 billion. This massive round stands in contrast to the first bit of money raised — about $7 million – from early investors including Sequoia Partners, Accel Partners, and Hadi and Ali Partovi.*
Founded in 2007, Dropbox is virtual storage that allows consumers to access documents, photos and videos from several devices. So if you happen to snap a picture on your Android operated phone and store it to your Dropbox, you can pull that same photo on your iPad or laptop, for example. It eliminates the need for thumb drives or even email as long as you download a storage box on each device.