Tag Archives: BusinessWeek
by Chris Roush
Business magazines brought in fewer ad dollars in 2013 compared to the previous year, underperforming in an industry saw a slight increase in advertising revenue.
The 14 business magazines reported ad revenue of $1.33 billion in 2013, down 4.8 percent from 2012, according to data from the Publishers Information Bureau analyzed by Talking Biz news. In comparison, the consumer magazine industry reported a 1.1 percent increase in 2013.
In terms of ad pages, the business magazines reported a 9.0 percent decline to 13288.80 pages in 2013, while the overall magazine industry reported a 9.0 percent decline.
The business magazine comparison includes the 2012 data from Smart Money, a Dow Jones & Co. personal finance magazine that stopped print publication that year. Excluding the Smart Money numbers in the comparison, business magazines still underperformed the industry, with a 3.1 percent drop in ad revenue and a 5.8 percent drop in ad pages in 2013.
The best-performing title among the business magazines was Bloomberg Markets, which reported a 14.7 percent increase in ad revenue to $38.3 million, and an 11.1 percent increase in ad pages to 774.26
Another strong performer was Barron’s, which reported a 9.9 percent increase in ad revenue to $67.4 million and a 6.4 percent increase in ad pages to 1,269.4.
The worst-performing was Black Enterprise, which reported a 38.6 percent decline in ad revenue to $15.8 million in 2013 and a 38.2 percent drop in ad pages to 338.38.
Among the big three business magazines, Fortune performed the best. It posted a 2.4 percent rise in ad revenue to $213.5 million and a 3.8 percent decline in ad pages to 1,408.77.
Forbes remained the top business magazine in terms of ad revenue and ad pages, but it saw declines in both. Its print ad revenue fell 5.3 percent to $260.4 million, while its print ad pages fell 10.4 percent to 1,644.24.
Bloomberg Businessweek reported a 9.5 percent drop in print ad revenue to $200.7 million and a 12.4 percent decline in ad pages to 1,306.26.
See all of the data here.
by Chris Roush
Bloomberg Businessweek reporter Brad Stone won the Financial Times and Goldman Sachs Business Book of the Year Award 2013 for “The Everything Store: Jeff Bezos and the Age of Amazon.”
The book is the definitive story of Amazon.com, one of the most successful companies in the world, and of its driven, brilliant founder, Jeff Bezos.
The award, which recognizes the book that provides “the most compelling and enjoyable insight into modern business issues,” was presented Monday evening to Stone in London by Lionel Barber, editor of the Financial Times and chair of the panel of judges, and Lloyd C. Blankfein, chairman and chief executive officer, The Goldman Sachs Group.
Stone won a £30,000 prize (about $48,297 as of today’s currency conversion rate). Each of the five runners-up received a check for £10,000 (about $16,099 as of today’s currency conversion rate).
“This is an inspirational business book which captures the culture of Amazon and the character of its founder Jeff Bezos,” said Barber in a statement. “A must-read for disrupters around the world.”
by Chris Roush
The largest issue of Businessweek since 1999 is on newsstands on Friday.
It’s also the largest issue since Bloomberg purchased the magazine in 2009. At 212 pages, with more than 111 pages of ads, Bloomberg Businessweek’s “The Year Ahead: 2014” is a special, perfect-bound issue that is part of Bloomberg L.P.’s new global media franchise “The Year Ahead.”
Forty-five percent of the advertisers in the Nov. 18 issue are also new to the magazine.
The issue examines the major trends, disruptions, breakthrough products, innovations, and revolutions of the coming year. There’s analysis from Bloomberg writers as well as interviews with key CEOs on their predictions for what’s coming in finance, energy, technology, retail, defense & transportation, and health care.
There are stories from around the world and charts illustrating personalized pricing, banks and their troubles, the quest for same-day delivery, and more.
In addition, there’s a ranking of the world’s 600 biggest companies by market share within their 55 industries, and to impress friends, a tear-out card of information on how six industries are facing the year ahead.
by Chris Roush
The two editors who oversaw Bloomberg Businessweek‘s coverage of business schools have left the weekly business magazine, multiple sources have confirmed.
Louis Lavelle, the magazine’s business schools editor since 2005, and Geoff Gleckler are no longer at the magazine, just weeks after the magazine revised its rankings of top MBA programs due to a calculation error.
Lavelle, whose last story was posted online on Nov. 7, declined to comment when contacted by Talking Biz News. Gleckler, whose last story was also posted online on Nov. 7, could not be reached for comment. The magazine posted Wednesday that it was seeking new people for their jobs.
A magazine representative said, “We remain committed to our coverage of business schools.”
Lavelle was an associate editor for the magazine. Previously, he was BusinessWeek’s management editor. Since taking over as the magazine’s business schools editor in 2005, his team expanded the franchise to include coverage of Chinese business schools and new rankings of undergraduate business programs, part-time MBA programs, the best employers for new college graduates, and the best employers for internships. In 2007 and 2008, BusinessWeek won National Magazine Awards for the B-schools channel on Businessweek.com.
Lavelle is also the author of “Fast Track: The Best B-Schools” (McGraw-Hill, 2008). Prior to BusinessWeek, Lavelle was a reporter at The Record in Hackensack, N.J.
Gloeckler was a staff editor, covering management education at Bloomberg Businessweek. He is part of the team responsible for creating the Best Undergraduate Business Schools ranking, the Best Business Schools ranking, the Best Executive Education and Executive MBA providers, and the newly launched Power 100 ranking of the most powerful people in sports. He is also the author of Fast Track: The Best Undergraduate B-Schools (McGraw-Hill, 2008).
Prior to joining BusinessWeek in 2005, Gloeckler served as editor of Wal-Mart World, an employee publication distributed to Wal-Mart and Sam’s Club associates. Gloeckler is a graduate of the University of Missouri’s journalism school.
by Chris Roush
Bloomberg Businessweek is seeking an editor to lead its business schools coverage.
The editor will run a dedicated digital channel; oversee its Best Business Schools rankings packages online and in print; set the priorities and tone for an increasingly important area of coverage for us; and manage an editorial team. There will be opportunities to write as well as edit and to represent Businessweek in the media and at events.
Beyond the relevant professional experience, our ideal candidate will have grand ambition for its BSchools franchise and bring the voice, energy and vision needed to build on our strong history and foundation. The position requires impeccable news judgment, strong interpersonal skills, and a sense of humor.
-Bachelor’s degree or equivalent experience
-Minimum of five years of journalism experience as a writer and/or editor in any medium, preferably more than one;
-Experience in crafting an entire editorial product or section and generating story ideas on an ongoing basis;
-Demonstrated ability to think creatively and work collaboratively on a daily deadline.
To apply, go here.
by Chris Roush
Bloomberg Businessweek is seeking a Data and Rankings Editor to join our Business Schools team.
The person in this role will be responsible for our annual Best Business Schools Rankings, now in its 25th year. The Data and Rankings Editor will work to enhance our current data collection and survey methodologies, work with outside data providers and analysts when necessary, communicate with the schools that participate in our rankings, and collaborate with our internal product, engineering and design teams.
Our ideal candidate is an analytics whiz with an editorial bent or vice versa. This person will improve the products we have and create new ones, and be able and eager to use data to create sparkling editorial content. This position requires strong interpersonal skills, attention to detail, and news judgment.
-Bachelor’s degree or equivalent experience
-Minimum five years writing and/or editing experience
-Strong quantitative, analytic and data mining skills
-Knowledge of relational databases a plus
To apply, go here.
by Chris Roush
Bloomberg Businessweek editor Josh Tyrangiel is taking a leave from the magazine to help with Bloomberg Television, according to New York magazine’s Joe Coscarelli.
Coscarelli reports that the change was announced in an email from Bloomberg Media CEO Justin Smith, which states:
To lean more heavily on that talent and make sure all of our voices are being heard, I’ve asked Josh Tyrangiel to detach from Bloomberg Businessweek and join me and Andy full-time through the end of the year. Josh will help with all aspects of the strategy process, with a special focus on thinking through our plans for television. Over the last four years, Josh has transformed Bloomberg Businessweek into a must-read with a fresh voice, personality and perspective. Josh and his team’s approach to storytelling have made Businessweek the destination for intelligent conversation around global business. In short, he’s taken the essence of Bloomberg and transformed it into a successful, influential consumer brand. In his absence Businessweek’s all-star team of creative partners including Romesh Ratnesar, Ellen Pollock, Brad Wieners, Richard Turley, Janet Paskin will keep the magazine humming.
Effective immediately, the US TV group will be report directly to Josh.
In advising me more broadly on television and the Media Group, Josh will also be our writer in residence as we turn our strategy for Bloomberg Media due early next year into a cohesive narrative (we couldn’t ask for someone more over-qualified).
Read more here.
by Chris Roush
John Byrne of Poets & Quants reports Wednesday that Bloomberg Businessweek has revised its rankings of top MBA programs due to a calculation error that it is trying to keep quiet.
Byrne writes, “The magazine quietly revised its rankings online a month ago with little fanfare or notice. At the top of its corrected table, in small hard-to-read type is this rather vague, less-than-clear statement: ‘(Corrects to revise 2012 overall rankings, Ranking index and 2012 Intellectual Capital rankings following errors in the calculation of the Intellectual Capital score.)’
“Even BusinessWeek’s updated methodology does not acknowledge the mistake. Instead, the magazine simply crosses out part of the description of the methodology (see below).
“Even worse, the magazine had to admit that it had changed its methodology for ranking the intellectual capital produced by business schools without official notice or even a mention in an accompanying story describing the way it tabulates the results of academic research.
“In an email obtained by Poets&Quants, Bloomberg BusinessWeek Assistant Managing Editor Janet Paskin informed the schools last month that ‘we have discovered that some errors were made in calculating one element of the 2012 ranking, the intellectual capital score, which accounts for 10 percent of each school’s total score.’
“Paskin went on to describe the problem in more detail that the magazine has still failed to disclose to its readers. ‘In a recent review of last year’s intellectual capital rankings,’ she wrote, ‘we discovered errors in how we collected and tallied faculty research. We also realized that we had failed to update our stated methodology to reflect our current practice: Faculty are no longer awarded points for reviews of books they have authored, and the time period surveyed spans four years, not five.’ In response to a question on how the errors occurred, Paskin said in an email that ‘inn a few instances, changes in faculty names were missed; some articles were published online but not in print, and vice versa, and were missed.’
“The screwup by BusinessWeek resulted in some especially dramatic changes in the intellectual capital ranking given to some schools. Yale University’s School of Management, for example, zoomed up eight places to 9th from an inaccurate ranking of 17th. The University of Chicago’s Booth School of Business plunged to 11th from fifth. Harvard Business School dropped 10 places to 19th from ninth. Rice University’s Jones School climbed to 21st from 27th. And Notre Dame moved up six places to 31st from 37th.
“All told, BusinessWeek admitted that ‘miscalculated intellectual capital scores’ were made by BusinessWeek for 40 American business schools and 10 international schools – a fact that was buried deep inside the email sent to the schools. The detail regarding the significant drops in intellectual capital rank was in the eighth paragraph of the ten-paragraph email written by Paskin. In journalism school, they call that ‘burying the lead.’”
Read more here. Byrne once oversaw BusinessWeek’s business school rankings.
by Chris Roush
Brad Stone, the Bloomberg Businessweek reporter who recently published a book about Amazon.com, writes in response to a one-star review the book received from McKenzie Bezos, the wife of Amazon founder Jeff Bezos.
Stone writes, “No matter how hard we strive for objectivity, writers are biased toward tension — those moments in which character is forged and revealed. I set out to tell the incredible story of how Amazon grew from three people in a garage to a company that employs 100,000 people around the world. It wasn’t an easy journey for the company, and for many Amazon employees, it wasn’t always enjoyable. It’s precisely that tension — between sacrifice and success — that makes Amazon and Bezos so compelling. Like any company, there were countless moments of dull harmony, and who knows how many hours of unremarkable meetings along the way. You could argue that many of those define Bezos and the company more than the strategic risks and moments of friction. MacKenzie Bezos does. I happen to disagree.
“Mrs. Bezos also suggests that there are a handful of factual errors in my account. As a journalist with a two-decade record of accuracy, that troubles me a great deal more. I spoke to more than 300 people for my book—among them current and former Amazon employees, rivals, partners, and customers. They gave generously of their time, memories, and documents to help me fill in the gaps in Amazon’s history that, as my sources pointed out, were sometimes left intentionally.
“Still, I’m not so high on my own authority to ignore the obvious: there are details of this story that only Jeff and MacKenzie Bezos can know. If they point to errors, I’ll gladly correct them. But I’d also proudly note that no one has taken issue with the major revelations in my book, such as Bezos’s Amazon.Love memo, the Cheetah and Gazelle negotiations with book publishers, the MilliRavi press release, the fight with Diapers.com and LoveFilm, and on and on.”
Read more here.
by Liz Hester
The second panel discussion at Talking Biz News’ conference at the CUNY Graduate School of Journalism in New York invited those on the business end of journalism to talk about the model for making money and what the future may bring.
The discussion touched on a variety of topics including pay walls for web sites, sponsored content, the decline of advertising dollars and how organizations may choose to brand their content.
Bill Grueskin, dean of academic affairs at the Columbia University School of Journalism and former managing editor at WSJ.com, mentioned that some pay walls have had more success than others. Models, like that of the New York Times, were a certain amount of content is free, then you have to pay seems to be working better. Grueskin mentioned the Dallas Morning News’ recent decision to take down its pay wall completely after losing customers.
Most panelists agreed that people would pay for quality, original content and that’s being demonstrated at publications of all sizes. At American City Business Journals, group publisher and executive vice president Rob Fisher said it was exploring ways to get those who subscribe to its print publications, those who pay for emailed content and people who attend events to pay a bit more or to purchase additional products.
Much of his revenue model, which is driven by local journalism, comes from non-journalism sources such as events as well as people paying for premium access or other items. They charge for reprints, links, the use of PDFs and other low cost, higher margin items.
Another force that publishers will have to content with is the rise in competition from journalism nonprofits, foundations, and privately funded organizations, said Steve Shepard, founding dean of the CUNY Graduate School of Journalism and former editor of BusinessWeek.
“What’s heartening to me is the rise of parallel universe in biz journalism,” he said. He mentioned that CUNY would begin a new program in the fall funding journalists who want to do long-form, investigative pieces. They would differ from other nonprofits in that they wouldn’t have their own staff, but seek out reporters with good ideas who needed funding to get them done.
Another disruptive change in the journalism business model is that people are looking for sites to find, organize and aggregate the best content for them, said Ranjan Roy, cofounder of Informerly.com, which is focused on delivering e-commerce news to global professionals. He also mentioned the rise of sponsored content, arguing that readers are accepting of content that doesn’t interrupt their reading.
“The opportunity in sponsored content is about generating an experience that doesn’t interrupt your reader and is as good as your original stories,” Roy said. He mentioned the advent of Facebook and Twitter sponsored posts, which are delivered in the same manner as regular social media.
Elisabeth DeMarse, chief executive officer of TheStreet.com, said that video was another area of opportunity for all sites, including sponsored content. She cited an example of a company sponsoring a video interview with one of their experts as a good example of this type of content. DeMarse, along with many others, are investing in video technology in the newsroom in order to more quickly produce this content on breaking news story.
Shepard urged organizations to have guidelines around sponsored content including how to label it clearly and what to call it. He was dismayed by some outlets calling this content sponsored journalism and said the industry needed to create professional guidelines.
Much of the future of journalism will depend on those on the business side making money. Panelists agreed the model differed for various publications, but that it would involve some type of non-advertising revenue.