POOR BABY: Meredith has its parenting titles to blame for its decline in ad revenue during the second quarter. Magazines in this category, such as Parents and American Baby, represent approximately 20 percent of its publishing revenue and contributed to a $4 million slide in ad sales from one year ago. Meanwhile, More magazine experienced a 30 percent spike in revenues, while Family Circle saw revenue rise 14 percent, said Steve Lacy, chief executive officer.
Online ad sales grew more than 30 percent during the quarter and the company expects a redesign and expansion of Better Homes and Garden's Web site, along with the launch of a parenthood portal, to further augment this segment. Lacy cautioned that since advertisers continue to make their decisions later and later in the year, uneven spending patterns and more period-to-period volatility will continue. With this in mind, he predicted earnings per share to grow in the 12 to 15 percent range for the 2007 fiscal year. — Amy Wicks
NEW HIRES: Readers Digest Association's top brass continues to poach from their old stomping grounds at Condé Nast. Former corporate sales chief Suzanne Grimes, now RDA president, food and entertaining, hired Mark Wildman and Maureen O'Connell to the division's integrated sales and marketing team. Wildman will become vice president, while O'Connell will serve as executive director. Wildman was most recently executive director, integrated marketing at the Condé Nast Media Group, where he spent six years and is credited with creating its television series "Iconoclast" with Grey Goose and Sundance. O'Connell had been the Condé Nast Media Group's corporate sales director since January, and held sales positions at Domino and Self prior to joining RDA. — S.D.S.
Online ad sales grew more than 30 percent during the quarter and the company expects a redesign and expansion of Better Homes and Garden's Web site, along with the launch of a parenthood portal, to further augment this segment. Lacy cautioned that since advertisers continue to make their decisions later and later in the year, uneven spending patterns and more period-to-period volatility will continue. With this in mind, he predicted earnings per share to grow in the 12 to 15 percent range for the 2007 fiscal year. — Amy Wicks
NEW HIRES: Readers Digest Association's top brass continues to poach from their old stomping grounds at Condé Nast. Former corporate sales chief Suzanne Grimes, now RDA president, food and entertaining, hired Mark Wildman and Maureen O'Connell to the division's integrated sales and marketing team. Wildman will become vice president, while O'Connell will serve as executive director. Wildman was most recently executive director, integrated marketing at the Condé Nast Media Group, where he spent six years and is credited with creating its television series "Iconoclast" with Grey Goose and Sundance. O'Connell had been the Condé Nast Media Group's corporate sales director since January, and held sales positions at Domino and Self prior to joining RDA. — S.D.S.
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