Media and Money

Archive for the ‘Media Budgets’ Category

Third-quarter profit at The Washington Post Co. rose 69 percent compared with the same period last year reports a staff writer from the newspaper.

The Post Co. earned $17.1 million ($1.81 per share) on $1.14 billion in revenue during the period from July to September, the company said Friday morning, compared with $10.4 million ($1.08) on $1.12 billion in revenue in the third quarter of last year.
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Veronis Suhler Stevenson (VSS) announces the publication of its newest Communications Industry Forecast (CIF) covering the years 2003-2013. VSS predicts that total communications spending will decline 1% in 2009 to $882.6 billion, but grow 3.6% per year over the next five years to over $1 trillion making communications the third fastest-growing sector of the U.S. economy over that period. Segments driven by end user spending and targeted marketing services are gaining even as traditional advertising is shrinking.

2008 and 2009 witnessed a major shift in the spending patterns in the communications industry as advertising became the smallest of the four major sectors in 2008 — a first for advertising since VSS began tracking the industry in 1986. While this period culminated a decade-long trend away from traditional advertising vehicles and towards institutional and consumer end-user spending and marketing services, it also highlighted the emergence of institutional and consumer communications as the dominant sectors in U.S. communications spending. VSS forecasts that the institutional sectors and various alternative media segments will drive overall communications spending for the next five years. More specifically, institutional end-user spending will remain the largest and fastest-growing communications sector, rising by 5.6% annually as a result of strong gains in business information services, particularly in the marketing and financial services sub-segments, and the for-profit higher education sub-segment of educational and training media and services. Alternative marketing segments – including branded entertainment and word-of-mouth marketing – will grow at 12.6% annually from 2008-2013 and will contribute to overall marketing services spending growth of 3.4% annually in the period 2008-2013.
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old vogue coverFor fashion enthusiasts, September is holiday time for lifestyle and luxury magazines. Once upon a time, the biggest issues of the year were published during the fall season but double-digit percentage declines in advertising has slimmed down the fall fashion issues. Based on publishers’ estimates of September ad pages, released Tuesday, luxury fashion titles, a category that includes Harper’s Bazaar, W, Vogue, Elle and InStyle, are down 27% on average.

According Forbes.com, Time Inc.’s InStyle was the only title to post a year-over-year projected increase, adding six pages, or 2%. The slight increase for the Time Warner title is a fast boost to the record of publisher Connie Anne Phillips, who was named to the post five months ago after 14 years at Vogue. Conde Nast’s W posted the largest decline, off 53%, losing 165 pages of advertising. Hachette Filipacchi’s Elle expects ad pages to drop 21% while Hearst’s Harper’s Bazaar anticipates a 27% decline.
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ch1-jpgBlack radio faces a new wave of problems, one industry insider said this week, threatening stations that have long been a reliable source of news, information and culture among the nation’s African American communities, reports Afro.com.

The problems stem from a controversial piece of new legislation, House Resolution 848, which drew experts to Washington, D.C. for a congressional hearing this week, including Paul Porter, a media critic who has had a prominent voice in American radio the past 20 years.

Porter said that while its legislative supporters’ “initial concerns were simply to grant performers royalties for radio airplay, the response of broadcasters has opened the door to an array of larger problems than just dwindling revenues.”
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AP reports advertising forecaster, Magna, predicts that the worst is over for the U.S. ad slump but that across-the-board revenue growth won’t resume until well into 2011.

Magna, a unit of the Interpublic Group of Cos., estimated second-quarter ad revenue fell by 18 percent and said revenue will fall 14.5 percent for the year — the worst showing since the Great Depression.

“The economy accounts for the bulk of that decline,” said Brian Wieser, Magna’s global director of forecasting. “Every sector is being pulled down by this decline, every media that takes ad support.”
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