AAP July 2024 StatShot Report: Overall Publishing Industry Up 18.1% for Month of July, and Up 7.6% Year-To-Date

The U. S. Postal Service filed notice with the Postal Regulatory Commission of mailing services price changes to take effect July 14, 2024. The new rates include a 5-cent increase in the price of a First-Class Mail Forever stamp from 68 cents to 73 cents. The proposed adjustments, approved by the governors of the Postal Service, would raise mailing services product prices approximately 7.8 percent. If favorably reviewed by the commission, the price changes would include: U.S. Postal Service Recommends New Prices for July 2024: Product - Current Price - Planned Price: *Letters (1 oz.) - 68 cents - 73 cents; *Letters (metered 1 oz.) - 64 cents - 69 cents *Domestic Postcards - 53 cents - 56 cents; *International Postcards - $1.55 - $1.65; *International Letter (1 oz.) - $1.55 - $1.65.

*Revenues in the quarter were $2.52 billion, a 7% decrease compared to $2.72 billion in the prior year, reflecting a $171 million, or 6%, negative impact from foreign currency fluctuations. Adjusted Revenues decreased 3% *Net income in the quarter was $94 million compared to $262 million in the prior year *Total Segment EBITDA in the quarter was $409 million compared to $586 million in the prior year *In the quarter, reported EPS were $0.12 compared to $0.40 in the prior year – Adjusted EPS were $0.14 compared to $0.44 in the prior year

Monday a broad coalition including Texas bookstores, national booksellers, authors and publishers filed an appellate brief in the U.S. Court of Appeals for the Fifth Circuit, requesting that it affirm the preliminary injunction of the “Reader Act” (formerly HB 900) granted by Judge Alan D. Albright of the U.S. District Court for the Western District of Texas, Austin Division. The Reader Act would require independent bookstores, national chain bookstores, large online book retailers, book publishers and other vendors to review and rate millions of books and other library materials according to sexual content if those books are sold to school libraries, and to do so according to vague labels dictated by the state without any process for judicial review. On September 18th of this year, Judge Albright issued a written opinion granting a preliminary injunction, ruling that the Act “likely violates the First Amendment by containing an unconstitutional prior restraint, compelled speech, and unconstitutional vagueness.” The State defendants filed an appeal later that day. Oral argument is scheduled for Wednesday, November 29th.