Disney Villains Take Center Stage on Forever Stamps

The United States Postal Service Board of Governors today announced its unanimous approval of an adjusted Fiscal Year 2024 budget for the Postal Regulatory Commission. The approved budget of $21.124 million, when combined with the PRC’s other resources, results in a spending plan for FY 2024 totaling $27.202 million. While less than PRC’s FY 2024 budget request, the approved spending plan is a 28.2 percent increase over the PRC’s estimated spending in FY2023, and a 47.4 percent increase over the PRC’s actual expenses in FY 2022. “The Governors of the United States Postal Service recognize and respect that Congress has created the PRC as an independent entity with specific regulatory responsibilities over the Postal Service, and that it needs to have the resources to effectively perform those responsibilities,” said Roman Martinez IV, Chair of the Board of Governors of the U.S. Postal Service.

The fast-paced nature of the digital media cycle (and subsequent marginalization of simple fact checking and copy editing) has raised legitimate questions about outlets placing expediency and traffic surges above taking the time to get things right—yesterday’s wave of premature reports about the death of singer Tom Petty was only the latest example. This phenomenon, coupled with rising paranoia among consumers and marketers around fake news and brand-safe environments, respectively, provides a unique opportunity for trusted and established media brands such as national magazines. At least, that’s the central message of the latest marketing campaign undertaken by the MPA—the Association of Magazine Media. Click Read More below for additional information.

First Quarter 2024 Results: *Sales and adjusted sales both increased 13% to $341.4 million, compared to $302.8 million during the same period last year. *Gross profit increased 20% to $194.8 million, or 57.1% of sales, compared to $161.9 million, or 53.5% of sales, in the first quarter of 2023. The 360 basis point increase in gross margin was primarily due to lower inbound freight costs and lower product costs. *Operating income increased 71.0% to $25.8 million, or 7.6% of sales, compared to $15.1 million, or 5.0% of sales during the prior year quarter. *Net income increased 50% to $15.9 million, or 4.6% of sales, compared to $10.6 million, or 3.5% of sales in the prior year quarter; Net income per diluted share was $0.18, compared to $0.12 in the prior year quarter.