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In an internal memo to staff of Inc. and Fast Company, purchased last year by Mansueto Ventures from Gruner + Jahr USA Publishing, CEO John Koten describes a $10 million combined loss in 2005, BusinessWeek reports.
In what the article calls a “stunningly frank memo,” Koten went on to outline his plans for resolving the situation. The goal for upcoming years is to halve last year’s loss in 2006, and halve that again in 2007. The success in doing that rests in the hands of the advertising department, the memo stated. “Inc. and Fast Company also need to achieve significant increases in ad sales on an issue-to-issue basis to hit our target.”
Business magazines in general struggled with ad sales in 2005, with ad revenue for BusinessWeek down 9 percent and Fortune down 4 percent, for example.
Radio stations in the U.K. reacted with outrage when they learned of a report by researchers from the University of the West of England which accused them of promoting excessive drinking.
The study looked at 1,200 hours of radio output,…
General Motors posted sales of 308,817 vehicles in August. That’s a drop of 20 percent from August of last year - but 31 percent better than July.
In order to boost sales as much as possible during a time when…
A new digital out-of-home network to reach golfers is launching to 100 retail locations in the next two months. The network will be available in Dunham’s Sporting Goods, Golf Etc., Golf USA, Pro Golf, and ParMasters, among others.
Fox says that viewers’ attention to commercials is higher when fewer commercials are aired. The revelation comes as a result of testing the network has done for its freshman thriller, Fringe, which will premiere Sept. 9 with limited commercials and shorter…
Worldwide sales of mobile phones will reach 1.28 billion units in 2008 - up from 1.15 billion units in 2007 - an 11 percent increase from last year, according to Gartner, Inc - (via MarketingCharts).
While the mobile phone market is poised for…
Consumers in all income segments are cutting back spending, and doing so to a greater extent recently than at the beginning of the second quarter, according to a comScore study examining changes in consumer attitudes and perceptions about the U.S. economy…
