Verified Audit CirculationViewPoint
June 2016

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This Month's Features:

Verified Would Like to Welcome...
Readers Want Quality News, But Aren't Willing to Pay for It
Warren Buffett Stumped By Newspaper Trends
Events Calendar
Mag Newsstand Sales Fall Again
Verified 2016 Audit Guides Available in July 2016

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Verified Would Like to Welcome...

Charleston Deals TodayCharleston Deals Today
The Post and Courier
Charleston, SC
Charleston Deals Today, a Post and Courier product, offers an exclusive deal every day with savings of 50% or more at local restaurants, bars, spas, attractions and more.

Sun Values – NeighborsThe Sun News –
The Sun News
Myrtle Beach, SC
Sun Values – Neighbors is a free publication targeted to an audience of nonsubscribers to the Sun News – a paid daily newspaper serving Horry County. The paper contains news and information about the local market. It also contains features, entertainment, health, audit, community nonprofit and business information. Sun Values serves the greater Grand Strand community as a link to local matters.

Atlanta Daily WorldAtlanta Daily World
Real Times, Inc.
Atlanta, GA
The Atlanta Daily World is the oldest black newspaper in Atlanta, Georgia, founded in 1928. Currently owned by Real Times, Inc., it publishes daily online and weekly in print.

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Readers Want Quality News, But Aren't Willing to Pay for It

Readers Want Quality News, But Aren't Willing to Pay for ItAn April Reuters poll of 1,230 of its readers found that people valued quality news but just don't want to pay for it. Readers said that a news brand was synonymous with trust, but two-thirds of them said that they wouldn't pay for news, no matter its quality.

From Digiday | READ MORE



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Warren Buffett Stumped By Newspaper Trends

One of history's most successful investors is powerless to reverse the long-term secular decline in the newspaper business, judging by an interview with Berkshire Hathaway chairman Warren Buffett published by USA Today.

With characteristic frankness, the "Oracle of Omaha" admitted to being stumped by the local newspaper business, but also vowed he was in for the long haul.

In the interview with USA Today columnist Rem Rieder, Buffett conceded, "We haven't cracked the code yet. Circulation continues to decline at a significant pace, advertising at an even faster pace. The easy cutting has taken place. There's no indication that anyone besides the national papers has found a way."

On that note, Buffett said he thinks cutbacks have already had a big impact on the quality of many newspapers, further diminishing their chances of a successful turnaround. "They don't tell me as much news as three years ago, let alone 10 years ago. They are a fair amount worse off, and not one is bucking that trend, even in prosperous communities. There's less and less in the newspaper."

According to Buffett, a large part of newspapers' difficulty transitioning online can be traced back to the original decision to give away digital content for free, which he characterized as a mistake.

Despite the negative overall trends, Buffett declared that he has no intention of parting with his recent investments in the category. "We would never sell a newspaper. I want to be the last guy standing." Berkshire Hathaway's media group currently owns 32 daily newspapers and 47 weekly newspapers across the U.S., most of them in small and mid-sized markets.

While Buffett generally eschews vanity or pet investments, bemused Berkshire Hathaway shareholders have accepted that the investment guru has a special fondness for newspapers, which they appear ready to indulge in view of their relatively small size compared to his bigger corporate investments.

To put the Berkshire Hathaway Media business in perspective, during one of his newspaper acquisition sprees from 2012–2013, Buffett spent $344 million to buy 28 daily newspapers.

By contrast, 2013–2015 also saw Berkshire Hathaway's $23 billion takeover of Heinz ahead of the latter's $40 billion merger with Kraft. The newspaper deal was just 1.5% the size of the Heinz deal.

© 2016 MediaPost Communications


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Events Calendar

LocalMedia Virtual Ad Conference
July 26 – 28, 2016

Inland Press Association Group Executives Conference
August 10 – 12, 2016
Kansas City, MO

Sao Paulo – INMA International News Media Conference
August 23 – 24, 2016
Sao Paulo, Brazil

Alliance of Area Business Publications New Event Ideas
August 31, 2016

If you have an event that you would like to announce,
please send your information to

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Mag Newsstand Sales Fall Again

Newsstand sales of consumer magazines continued to decline in the beginning of 2016, according to the latest figures from MagNet, which tracks single-copy sales across the U.S. and Canada.

The number of magazines distributed by wholesalers also dropped compared to last year.

The total number of magazines distributed by wholesalers in the U.S. fell from 369.1 million in the first quarter of 2015 to 334.8 million in the first quarter of 2016, for a 9.3% decline over this period.

The number of magazines actually sold fell 10.1% from 98 million to 88.1 million, meaning that the proportion sold slipped from 26.6% to 26.3%.

Newsstand sales in dollar volume fell from $509.8 million to $481.5 million, for a roughly 5.6% drop. In the same report, MagNet saw a 7.5% drop in Canadian newsstand sales over this period, from 14.6 million copies to 13.5 million.

Out of 20 categories tracked by MagNet altogether, 14 saw total newsstand sales decrease over this period.

Turning to specific categories, some of the biggest drops in newsstand sales hit business and finance, down 27.9% to one million copies sold; health and fitness, down 19.9% to 4 million copies sold; home and garden, down 15.7% to 5.1 million copies sold; and celebrity, down 13.7% to 26.6 million copies sold.

MagNet noted that the proportional declines in overall newsstand sales in terms of magazines and dollar volumes are actually smaller than in previous quarters, providing something of a silver lining to the latest figures.

However, any optimism will be tempered by the fact that the latest round of declines comes on top of eight consecutive quarters of year-over-year losses in 2014–2015.

© 2016 MediaPost Communications

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Verified 2016 Audit Guides Available in July 2016

Verified LogoVerified is proud to announce that the Audit Guidelines 2016 will be available in July 2016. The audit guide includes updated information and new guidelines for magazines and newspapers.

To download the updated guidelines, go to Verified's website, select Members and then Procedures & Regulations on the left side of the page. Audit Guidelines 2016 is available along with other audit training and information materials.

You will need your username and password to download the Audit Guidelines 2016 PDF document.

If you have any questions, please contact Verified at 415-461-6006.

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Verified Audit Circulation
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2016 Verified Audit Circulation