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Skateboarder Magazine isn't abandoning print altogether, but--not surprisingly for a young, male enthusiast title--it's going to concentrate a lot more on digital from now on.
The 49-year-old GrindMedia brand is replacing its subscription-based print magazine with a free digital edition and a bimonthly print replica of the digital issue beginning with its current April/May issue. "We've learned that we need to change our focus with this particular audience and start with the notion of quick-hit videos," says Norb Garrett, senior vice president and group publisher for GrindMedia, an action and adventure sports division of Source Interlink. "From there we build other ancillary products. The magazine becomes almost a promotional device rather than the central focus. We've had to shift where the starting point is and where the delivery point is." The changes began early this year as Skateboarder Magazine saw several of its print-focused editorial staff replaced with web and video experts. Those moves came in response to growing web traffic--up 186 percent since they increased investment in video last year, Garrett says--and traditionally poor penetration into the audience. He estimates skateboard print media reaches less than 250,000 out of a potential audience of 22 million.
Crown Holdings, Inc. today announced its financial results for the first quarter ended March 31, 2013. First Quarter HighlightsIncome per diluted share $0.28; Before Certain Items $0.50 Global beverage can volumes grew 6% driven by strong growth in Brazil and Asia Pacific Second production lines in Putian, China and Bangi, Malaysia were commercialized
Net sales in the first quarter grew to $1,973 million over the $1,947 million in the first quarter of 2012, primarily driven by increased global beverage can sales unit volumes more than offsetting lower raw material costs. First quarter gross profit improved to $299 million over the $287 million in the 2012 first quarter, primarily due to increased beverage can sales and reduced depreciation expense, partially offset by lower profits in the European Food segment. Selling and administrative expenses were $104 million in the first quarter compared to $106 million in the same period last year. Segment income (a non-GAAP measure defined by the Company as gross profit less selling and administrative expense) increased to $195 million in the first quarter compared to $181 million in the first quarter of 2012 primarily due to improved gross profit.