Here, FOLIO: speaks with McCarrick about Time and about his perspective on the evolving media landscape.FOLIO:: Time, like so many other magazines, has faced its share of roadblocks and hurdles. What would you say is the magazines biggest challenge right now?McCarrick: For sure the decline in advertising in general within the U.S. marketplace has been a concern for all of 2008. Where the future is headed remains uncertain as well. Fortunately, despite shrinking dollars, Time continues to raise its share of market within the category. We also have the good fortune of shifting emphasis to our global editions where we have experienced double digit growth year-to-date and which offsets declines in the U.S. market. Likewise, the explosive growth of our Time.com business is making substantial contributions to ensure the health of our brand worldwide.FOLIO:: Time has undergone several changes between 2007 and 2008. What do you consider to be the most significant changes? Why?McCarrick: We moved our publishing cycle worldwide from Mondays to Fridays. We cut unprofitable circulation and led the industry in presenting a “clean and strong” ABC statement—and many have followed our tactics. We introduced an audience model and, while not well received by agencies in the market, we remain convinced that this is the currency by which brands will be measured in the future. Overseas, it is already done that way. And, last but not least, we relaunched Time.com as a 24/7, 365 days per year news and information site under the Time umbrella.FOLIO:: How exactly do you describe Time’s evolution into a 24/7 news experience, and how have these changes been applied online?McCarrick: Everything we do now applies to a 24/7 news experience. Turn on your television this week at the conventions and you’ll see the Time editors/experts all over the screen—the networks know who is knowledgeable and have the inside information. Any breaking news will be on Time.com immediately, blogs will provide response and analysis (i.e. Swampland) and yes, the magazine where in depth analysis and interpretation as well opinion takes place complements all of this. Each medium complements the other but under Time.FOLIO:: In terms of what magazine publishers are doing to stay ahead of the curve, what are some of the trends you’re seeing now that stand out to you most?McCarrick: For 85 years the Time brand has changed based on the needs of its consumers and advertisers—to stay stagnant is not an option. It evolves and changes each and every week yet remains true to its founder’s mission statement of “keeping busy people informed about the world”. By establishing a global network it touches the four corners of the world in print and online. New and innovative editions—Style & Design—are being copied by the industry. The future success will be measured by how many people we can engage through mediums of print, online and television. Time’s authority and ultimately the trust it captures from its consumer base will sustain it in a world of misinformation.FOLIO:: Where do you see the newsweekly category, and Time specifically, over the next 12 to 18 months?McCarrick: I think you’ll see Time continuing to capture the largest share of dollars invested within the category both domestically and internationally. Our circulation will remain solid in the U.S. at 3.25 million subscribers and newsstand purchasers. U.S. News is no longer a weekly newsmagazine and is in search of identity. You’d have to ask the Newsweek folks where they are headed but Time will continue to invest globally and build the largest international news network of the group, explore new magazine edition like Style & Design and grow our digital business at a very aggressive pace. As part of the struggling newsweekly category, Time magazine has experienced its share of challenges in recent years. There have been layoffs, circulation was slashed, and its publishing cycle was changed. During the first half of 2008, ad pages fell more than 20 percent and estimated revenues dropped more than 16 percent.Meanwhile, Time redesigned the print edition of the magazine, and relaunched Time.com as part of what it is calling a continuous, 24/7 news experience. How these changes affect newsstand sales, and revenue, remains to be seen. Time, though, arguably is one of the best case studies in reinvention, during what has been a tumultuous time for several magazine companies. That’s a big reason why we recruited Time president and worldwide publisher Ed McCarrick [pictured] as a keynote speaker during this year’s FOLIO: Show—the largest gathering of magazine industry professionals in the country—which is scheduled for September 22 to 24 in Chicago. The theme this year, “navigating change,” drives more than 80 sessions across eight tracks.
The deal involves 17 trade shows and events across the real estate, design and construction communities, including World of Concrete, The International Surface Event and the recently-purchased Greenbuild Conference & Expo. “We’ve been getting calls about the business for a long time,” he says. “The country is on the verge of serious market recovery and we have the dominant platforms.” Most of the investment activity from the capital associated with this sale will go toward product development or acquisitions to strengthen its data platforms, Goldstone adds. The group’s annual revenue through March 2015 is projected at $67.7 million with EBITDA (earnings before interest, taxes, depreciation and amortization; a common metric for evaluating company size and performance) of $34.4 million, according to Informa. With a $375-million price tag, the sale was for nearly 11-times EBITDA—considered a high multiple for events businesses. Peter Goldstone, Hanley Wood’s CEO, tells FOLIO: that the company wasn’t necessarily looking to sell its exhibitions, but a rebounding housing market made the properties valuable. Hanley Wood will also continue in its role as “the official media and information provider to the various events we have supported” for at least the next 10 years, according to statements from each company. The properties will be rebranded to Informa Exhibitions U.S., but will remain based in the U.S. under the continued leadership of Rick McConnell, president of the group, and the entire existing events staff. The businesses are expected to complement Informa’s existing portfolio of shows in similar verticals around the world, including a collection of U.S. shows it acquired when it bought Virgo Publishing in July. Hanley Wood has agreed to sell its exhibition businesses to Informa, a U.K.-based publishing and events company, for $375 million. The sale is expected to close by the end of 2014. Hanley Wood is still a $100-million company, and with 30 smaller, targeted shows, it remains in the events business, but Goldstone says it’s transitioning to information and marketing services. He cites its 2013 purchase of research firm, Metrostudy, as a “transformational moment.” Editor’s note: The sale price was previously incorrectly stated as $370 million.
With the elections around the bend, the government will be apprising the people of the rural areas about its achievements in the development sector over the past several years. And, as usual, public money will be used for the purpose.As part of this campaign, the directorate of mass communication, under the information ministry, has taken up a project for strengthening publicity for the development of rural communities, at a cost of around Tk 600 million. The Executive Committee of the National Economic Council (ECNEC) approved the project on 3 April.This project includes campaigning on the development achievements of the government over the last few years, aimed at giving the ruling party an upper hand in the election race. Under the project videos on development will be projected in every union. This will be accompanied by concerts, women’s meetings and free meals.Director of the mass communication directorate Jasim Uddin has said the project will be implemented fully from July.The main programme is entitled ‘Egiye Jachhe Bangladesh’ (Bangladesh is advancing).The 10 initiatives of the prime minister being highlighted under the project are ‘Ekti Bari Ekti Khamar’ (one farm for every household), Asrayan, Digital Bangladesh, education assistance programme, electricity for all, community clinics and child development, social security and more.Achievements of the government at home and abroad over the last eight years will also be highlighted in the campaign through film shows, folksong sessions, women gatherings, Facebook posts, YouTube, as well as radio and TV broadcasts.The project is of three years, spanning from November 2017 to November 2020. According to the project documents, Tk 535 million or 90 per cent of the total budget will be spent between 2 and 19 of June.Commenting on the relevance of the project, former advisor of the caretaker government AB Mirza Azizul Islam said there is no justified basis for such projects. No development is achieved through such projects. He added, such projects are taken up with the election in mind, to win votes from the people.Taking up projects before the polls is nothing new.In the current fiscal, three projects have been passed for constructing schools, colleges, mosques and temples, according to the demand of the concerned MPs. Three more such projects are in the pipeline, awaiting allocations for constructing madrasas, public toilets and market places in other relevant constituencies.The MPs of these constituencies had been allocated Tk 30 million to 50 million for road construction in their areas over the last eight years. The development campaign project is the latest inclusion.Films on the development of every union will be presented. A thousand leaflets on development will be distributed and over four and a half million leaflets will be printed at a cost of Tk 100 million.Jasim Uddin went on to say, before the commencement of the project, appointments will be made, premises will be rented and other preparations will be completed.LED screens will be set up on pickup trucks in each of the 4,554 unions to screen the films.A school compound from each union will be selected for the film shows. And 20 teams will be employed to screen the films across the country. Every day at least one show will be held, at least 20 shows in each district per month.In all, 21,360 shows will be screened. Five films costing Tk 100,000 each will be produced. Two-thirds of the total budget, that is Tk 380 million, has been allocated for this purpose.Local popular folk music like bhawaiya, gombhira, jari-sari will also be performed.A total of 9,792 events will be held across the country. The events will cost Tk 20 million. Each of the folk singer will be paid Tk 700 per programme, bringing the total cost to Tk 30 million for this segment.A woman gathering will be held at each upazila. Budget for the banner, stage decoration, participators is Tk 15,000.And those watching the development campaign films will be treated to good food, with Tk 20 million allocated for their treat.AB Mirza Azizul Islam said, people can see development for themselves if it takes place. It doesn’t require further campaigning. Moreover, there is the TV and the radio for broadcasting development. Local leaders involved with the ruling party will benefit from this project, he observed.*This report, originally published in Prothom Alo print edition, has been rewritten in English by Nusrat Nowrin.
Wondering what to wear at this New Year’s Eve party? Go for lace pieces that will accentuate your features, says an expert.Sujit Kumar Mohanty, Brand Head, Intrika – premium lace apparel brand, suggests what to choose for the celebration: * Ditch the classic black and white lace this season and opt for a brighter pop of colour with shades like fuchsia, red and yellow. For those who are not ready to go bold, a calmer navy blue or bottle green works best. Also Read – Add new books to your shelf* It’s time for jumpsuits to take a back seat. Matching sets are the new in thing this season. The matching set in white lace is a crowd favourite. You can wear them as pants and skirts with tops for formal occasions or shorts for a casual brunch.* Deep intense colours are not just for your nails or lips. Lace dresses in colours like oxblood, forest green and navy blue are ruling the party scene. Channel your inner diva, and don a lace gown. * A beautifully draped lace sari is not just the perfect go-to for some glam and chic look, but also the lightest fabric ensuring that you can dance your night away.
Share Posted by If you want to avoid annoying flight attendants, don’t order this one thing on a flight TORONTO — It’s important to stay hydrated while flying. But it’s also equally important to not annoy flight attendants, as they are largely responsible for keeping everyone onboard relaxed, comfortable and safe.According to the Huffington Post, one of the easiest ways to stay on the good side of the flight crew is to avoid ordering Diet Coke. Yes, it really is that simple! Diet sodas, particularly Diet Coke, are extra fizzy, which means it takes flight attendants that much more time to pour it into a glass. Those extra five seconds spent waiting for the fizz to settle down eventually add up over row after row, leading to a slowdown in drink service and extra long delays.But if you’re one of those people who absolutely need their diet soda, there’s still a way for you to avoid the wrath of the flight crew: forego the ice. Apparently, pouring Diet Coke over ice is the worst thing you can order on a flight because the ice causes extra bubbles.More news: Virgin Voyages de-activates Quebec accounts at FirstMates agent portalSo do your flight crew a solid and simply order water instead. << Previous PostNext Post >> Thursday, March 8, 2018 Travelweek Group