U.S. magazine newsstand sales dropped almost 10% during the first six months of 2012, with all five top-selling single-copy publications seeing stark declines in sales, according to The Wall Street Journal.
People and Cosmopolitan suffered major setbacks, watching their newsstand sales numbers drop 18.6% and 15.5%, respectively, during the first half of the year.
Newsstand magazine sales are an important indicator of demand because single-copy sales generate more revenue than print or digital subscriptions, which often are sold at a discount, according to the Associated Press.
When looking at total paid circulation, the decline in sales was more modest, falling just 0.1% from the same period last year.
The report underscores the difficulty of generating consistent revenue in a media industry where print publications are folding and digital properties are finding difficulty monetizing their content. Digital ad revenue growth has stalled for many media properties as the average cost-per-click continues to plummet.
Home Depot Remodels (Bloomberg)
Home Depot has agreed to purchase kitchen and bathroom remodeling chain U.S. Home Systems for roughly $94 million, representing a 40% premium on Monday's closing price.
Job Openings Rise (Bloomberg)
U.S. companies added more than 100,000 job openings during June, increasing the total number of positions available to 3.76 million, the most since 2008.
Awarding Medals (Adweek)
Olympic sponsors Chobani, General Electric and Coke were the three most effective advertisers during the first 10 days of the London Games, according to a new study.
Red Ventures Hiring (Sacramento Bee)
South Carolina Web marketing firm Red Ventures expects to double the size of its corporate headquarters and add as many as 1,000 new jobs over the next half-decade.
O'Charley's Hires Agency (Adweek)
Restaurant chain O'Charley's has tapped Michigan-based Doner to be its new lead agency, replacing former creative and media head Merkley + Partners.
Ogilvy's Vodka Shot (Ad Age)
Spirit maker Beam has named WPP's Ogilvy as the lead agency for its newly acquired Pinnacle vodka brand.
Buzz Around the Office
One Long Joyride (MSN)
A 13-year-old Ohio native who "borrowed" his mom's BMW had his joyride cut short when he was apprehended in an alley in Kansas City, Mo. – a full 650 miles away from home.
List of the Day: What Not to Say
When going on vacation, it's natural to want to turn on the "out-of-office" assistant. But try to avoid saying these things.
1. Remarks about how you're "finally" taking a vacation.
2. That you're checking email occasionally and will respond to urgent matters. Duh.
3. Specific times, like you'll be out Friday from 3 p.m. to Tuesday at 7 a.m.