Digiday Research: 80% of publishers lower Q2 forecasts
In February, publishers braced themselves for a tough quarter ahead. Now, reality is beginning to emerge.
A Digiday Research survey of 127 publishers found that 52% of publishers missed their first-quarter numbers. About 23% managed to exceed their forecasts, while 25% hit them.
Publishers are bracing for a worse second-quarter: 80% have lowered forecasts.
Back in March, Digiday Research found that 88% of the publishing executives surveyed expected to miss business goals for the entire year. About 85% of them expected to see a decline in ad revenue, 79% in event revenue and 68% in commerce revenue.
It’s been an especially tough time for news publishers: 59% of them said they missed their forecasts in the first quarter, and 19% of them exceeded it.
As for the second quarter, only 1% have raised their forecast, while a whopping 70% have lowered it.
Advertisers continue to be reluctant to spend any money on ads alongside coronavirus content. A prior Digiday survey found that 40% of brands are not advertising next to coronavirus-related news online, up slightly from the same survey conducted a month ago, when 37% said they will not buy ads alongside coronavirus-related content.
-
Bloomberg Media will debut five new podcasts with iHeartMedia this year
Bloomberg Media and iHeartMedia are releasing five podcast shows this year, part of a three-year co-production and distribution podcast deal to create over a dozen new original shows.
-
The pluses and pitfalls of team-led return to office approaches
Publishers like Dotdash Meredith, Dow Jones, theSkimm and NBC News are adopting team-specific RTO policies, designed to make the return to in-person work more accommodating. But they can also create complications.
-
The Rundown: As e-commerce grows, the eCommFronts address data and communication issues
Night Market, which specializes in guiding clients through e-commerce and retail media offerings and inventory, hosted its third annual eCommFronts beginning Tuesday through today.
-
SponsoredHow companies are improving career mobility to mitigate the Great Resignation
Matt Bartels, principal and media practice lead, Alexander Group The pandemic left an indelible mark on businesses around the world. This abrupt market force challenged leaders to reevaluate their business model, think creatively, work collaboratively and aggressively invest in their future or risk becoming obsolete. Unexpectedly, the global workforce reevaluated their lives while re-envisioning their […]
-
Q&A: How Vox Media’s branded content studio is working to integrate its podcast ad capabilities post-merger
Three months after Vox Media and Group Nine’s branded studios merged, the newly combined Vox Creative is using the different podcast ad formats it offers to integrate audio advertising into advertisers' campaigns, according to svp Yosef Johnson and executive producer of audio Annu Subramanian.
-
Future plc’s Jason Webby says U.K. publisher wants to be a dominant player in the U.S.
While the bulk of Future plc’s buys have been purchases of publications, the strategies behind them have not solely been about adding like inventory and like audiences, Webby said in the latest Digiday Podcast episode.
