Worldwide markets tumble once again; Newsweek claims first profitable quarter in Europe
Morning Brief: Apple releases security and bug fix update for iOS devices, bring the mobile OS up to version iOS 9.2.1 ahead of a major update that brings in a new Night Shift feature
The song remains the same: US stock markets are set to open sharply lower following another very bad day of trading on Asia, and now in Europe. While the Shanghai Composite Index only fell one percent, the Hang Sang stock index (which monitors Hong Kong’s largest company) fell nearly 750 points, or 3.8 percent.
Markets in Europe have followed Asia, with the German DAX down almost 270 points, or 2.8 percent. Other markets are down even more, with the UK’s FTSE100, French CAC 40 and Italian FTSE Italia down over 3 percent.
Dow futures point to a rough morning with the Dow set to open around 300 points down.
We are officially in bear market territory now. The Dow alone is down 1,200 points since the first of the year. This is not good news for publishers as it may mean that ad budgets, already seen to be slimmer in 2016, cut even further.
One publisher who contacted me yesterday on a matter of digital publisher platforms ended our conversation by saying “now if only the markets would turn around.” He then explained that his clients are getting worried about the economy in 2016 and wonder not only what a continuing falling market would do for ad budgets, but how the US electorate might react, as well.
I replied that back in 2007 I did a little research by reading back issues of trade magazines from 1930 following the stock collapse then. What was amazing was that so many pundits were still confident that 1930 would be a growth year and that the fall in the stock market was just a bump in the road.
So, Sarah Palin thinks Donald Trump should be the next US president. That sounds about right.
IBT Media today said that this past quarter marked the first profitable period for Newsweek magazine across EMEA. The publisher said ad revenues were up 327 percent year-on-year, with overall revenue up 90 percent.
The company did not release any hard numbers, however, so we are likely looking at grow over very small numbers. Nonetheless, it is nice to hear of ad growth somewhere, right?
“This is a brilliant result for Newsweek across EMEA and proves our strategy is working,” said Dev Pragad, Co-founder and Managing Director at IBT Media for UK and EMEA. “Our winning combination of exceptional editorial and a 360-degree advertising solution gets results for brands. We will be developing our offering further in 2016, which will see even more effective results for our advertising partners. The investment we’ve made is the key to our growth and a successful year ahead.”
Apple today released a security update for iOS devices that brings the operating system up to version iOS 9.2.1.
“This update contains security updates and bug fixes including a fix for an issue that could prevent the completion of app installations when using an MDM server.”
The next major update, iOS 9.3, will add a new Night Shift feature, Touch ID and password-protected Notes, and a few other features. The update is currently in beta.
One thing I did notice, however, was that this is the second update in a row that included a link to an Apple support page that did not exist. Yesterday Apple released an update to OS X El Capitan that brought Mac software to version 10.11.3. That update, too, linked to a nonexistent support page. Not a good sign.