States Consider Bills To Subsidize Local Newspaper Subscriptions (mediapost.com)

The results of an international survey by Two Sides provides unique insight into how print and paper is viewed, preferred and trusted by consumers around the globe. In June 2017, a survey of over 10,700 consumers was commissioned by Two Sides and carried out by leading research company Toluna. Nationally representative surveys were undertaken in ten countries: Australia, Brazil, France, Germany, Italy, New Zealand, South Africa, Spain, the United Kingdom and the United States. The results reveal a strong preference for print when it comes to recreational reading e.g. books, magazines, news, etc. 72% of global respondents prefer printed books, compared to only 9% preferring e-books. Significant country differences were also identified: in Germany, 75% of consumers prefer a printed newspaper, but in Spain, only 42%. Not only is there a global preference for print, there is also greater trust in print. 76% of all respondents believe “fake news” is a worrying trend and only 24% trust the news stories they read on social media. In addition, 63% of all respondents believe reading news in a printed newspaper provides a deep understanding of the story. Click Read More below for more of the story.

U.S. book publishing’s biggest trade show is being “retired,” show organizer ReedPop announced today. BookExpo, along with BookCon and Unbound, will not be held in 2021 after being canceled in 2020 due to the pandemic. ReedPop, the pop culture event–focused subdivision of Reed Exhibitions, said that, given the “continued uncertainty surrounding in-person events at this time,” the company has decided “that the best way forward is to retire the current iteration of events as they explore new ways to meet the community’s needs through a fusion of in-person and virtual events.”

Net revenues were $199.7 million, a 4% year-over-year increase. Shutterfly Consumer net revenues totaled $152.1 million, a 5% year-over-year decrease which was consistent with the Company's expectations of a mid-single digit decline in the first quarter of 2018 as indicated on prior earnings calls. Shutterfly brand growth was supported by strong performance in Photo Books as well as the Wedding Shop, which was launched in the third quarter of 2017, and was offset by anticipated revenue declines in the non-Shutterfly brands due to the platform consolidation and the brand shutdowns over the course of 2017. Shutterfly Business Solutions net revenues totaled $47.7 million, a 52% year-over-year increase. GAAP operating loss totaled $34.1 million and net loss was $27.2 million or a $0.83 loss per share. Adjusted EBITDA was $7.1 million, a $9.0 million year-over-year increase primarily due to growth in the Shutterfly brand and the benefits of the platform consolidation and restructuring. Click Read More below for additional information.