Meredith Corp. announced Wednesday that it will guarantee advertisers see a response if they buy space in the company's magazines for the rest of the year.
Citing the "unprecedented crisis" of the COVID-19 pandemic, Meredith Magazines President Doug Olson said the publisher wants business partners to know how effective their investment will be. The specific results guaranteed for each ad depends on the advertiser.
"It's an important time for us to work closely with the ad community, helping it benefit from the value of magazine media — its unmatched connection to readers and proven ability to drive intent and action — and maximize its investment with our brands," Olson said in a statement.
More: The latest on coronavirus in Iowa
In its announcement, Meredith said it will promise that a certain number of readers will "take action" when they see the ads in the magazines. Jill Davison, vice president of corporate communications, said the company "will make-good in the magazine" if readers don't respond the way the company ensures they will.
The company defines readers responding to an ad in a variety of ways, including cutting the ad out, searching for more information about the advertiser and visiting a website. To verify whether readers are responding, Meredith is partnering with MRI-SIMMONS, a consumer profiling company.
Meredith's announcement comes as other publishing companies have reported diminishing ad revenue because of government-enforced business lockdowns to stop the spread of coronavirus.
Chief Communications Officer Art Slusark declined to comment on how Meredith's ad revenue since March compared to the same period last year. The company will provide that information to shareholders in its quarterly financial report in May.
Meredith has not laid off or furloughed any of its 5,500 employees nationwide, Slusark said. Other publishers have announced furloughs, layoffs or pay cuts since March.
Tyler Jett covers jobs and the economy for the Register. Contact him at 515-284-8215 and tjett@registermedia.com. Follow him on Twitter @LetsJett.
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