Operating revenues were $854.2 million, including approximately $49.1 million from the 53rd week, compared to $867.0 million in the prior year quarter. Favorable changes in foreign currency exchange rates benefited revenues by $4.2 million. Same store operating revenues declined 8.8%, an improvement compared to a decline of 9.4% in the third quarter of 2017, due to our strategic subscriber pricing initiatives and the inclusion of a full quarter of ReachLocal revenue in our same store calculation. Total digital revenues increased to $272.3 million, or approximately 31.9% of total revenue. GAAP net losses were $13.6 million, including a $42.8 million tax expense from the Tax Cuts and Jobs Act of 2017 and $27.6 million of after-tax restructuring, asset impairment charges and other costs. Click Read More below for additional information.
Print Prospered In 2023, On Track To Repeat It This Year (mediapost.com)
Print media consumption rose in 2023, and this trend should continue in 2024, according to a study by Pew Research Center.
Specifically, home and food magazines grew as follows:
Good Housekeeping, 12.1M readers, +2% vs. two years ago
Southern Living, 11.7M readers, +5% vs. two years ago
Food Network Magazine, 11.3M readers, +28% vs. two years ago
Taste of Home, 8.6M readers, +7% vs. two years ago
HGTV Magazine, 8.1 million readers, +14% vs. two years ago
Country Living, 7.6M readers, +18% vs. two years ago
AllRecipes, 7.5M readers, +34% vs. two years ago
Food & Wine, 6.7M readers, +23% vs. two years ago
Meanwhile, high in-home readership magazines include:
AARP The Magazine, 38.9M readers (89% in-home), +5% vs. two years ago
Costco Connection, 32.4M readers (90% in-home), +10% vs. two years ago
AllRecipes (64% in-home), 7.5M readers, +34% vs. two years ago
TV Guide (61% in-home), 6.7M readers, +20% vs. two years ago
Taste of Home (56% in-home), 8.6M readers, +7% vs. two years ago.
MRI-Simmons reports that 80%+ of 100+ national magazines have lower readership than they did a decade ago. But, over the past two years, nearly 90% of those have maintained or actually increased readership.
Catalogs are also growing apace. “Amazon’s Holiday Dash catalog which tops 100 pages, has been described as a mashup of the iconic Sears catalog and Highlights magazine,” Pew writes.
more at: https://www.mediapost.com/publications/article/392836/print-prospered-in-2023-and-is-on-track-to-repeat.html