'Everyone feels the pain': Major digital publishers enact pay and benefits cuts to stanch the bleeding

Several publishers have begun announcing their pay cuts and furlough plans as ad revenue continues drying up. Seeing patterns from previous recessions, former media execs explain why these cost controls are only temporary fixes. March 31, 2020 Several publishers started announcing their pay cuts and furlough plans as ad revenue continues drying up. Seeing patterns from previous recessions, former media execs explain why these cost controls are only temporary fixes. Read more below. - “Pay cuts are symbolic. It’s a shared sacrifice," said one former media CEO. A 5% decrease on a $60,000 salary "is not going to move the needle much, but [everyone is taking a little bit of the pain](.” - For Digiday+ members, eager to maintain positive free cash flow, every publisher or agency CFO is looking to [ensure clients pay up any outstanding bills]( and pare down the bills flowing out from their own businesses. - Here’s the story of [how Hyundai Assurance came to be]( following the financial crash of 2008 and how it was revived in recent weeks. - After exerting their buying power and influence over other ad tech vendors, [the holding groups are coming]( for supply-side platforms. Other things to know about - We'll be joined by former Comscore and 360i CEO Bryan Wiener to explore the importance of leading in a crisis for our next Digiday+ Talk. [Learn more and become a member here]( to join the discussion on April 7 at 1 p.m. ET. - [With browser cookies dying](, some mobile advertisers are using mobile advertising IDs as an alternate method of targeting audiences and making sense of first-party data. Sponsored by FullContact. Top Stories Coronavirus Fallout ['Everyone feels the pain': Major digital publishers enact pay and benefits cuts to stanch the bleeding]( Several publishers have begun announcing their pay cuts and furlough plans as ad revenue continues drying up. Seeing patterns from previous recessions, former media execs explain why these cost controls are only temporary fixes. howdy! Coronavirus Fallout [Finance is the new creative: Balance-sheet crunch leads ad and media businesses to seek new liquidity avenues]( This is the second of a weekly column about the big changes and challenges facing media and marketing leaders. Be sure to join Digiday+, our membership program, to get access to this column and all Digiday articles, research and more. First came the shock. Then came the bills. Eager to maintain positive free cash flow […] Sponsored by LiveRamp [Three strategies for growing publisher revenue without third-party cookies]( Up to 40 percent of browser inventory is already cookieless, giving publishers, marketers and their technology partners an opportunity to build a new and better digital ecosystem. Advertisement howdy! Coronavirus Fallout ['Right thing to do at the right time': The definitive oral history of Hyundai's assurance program]( Here’s the story of how the Hyundai Assurance came to be and how it was revived in recent weeks. Sponsored by CafeMedia [Webinar: How independent publishers are holding onto ad revenue in the privacy era]( Even in the face of cookie restrictions and regulations, ad revenue remains the lifeblood for independent publishers — but they’re using entirely new tactics to keep it pumping through their veins. In a webinar on April 13, at 3 p.m. EST, join experts from CafeMedia, Huge and Atlanta Black Star as they discuss revenue strategies in the privacy era. howdy! The Programmatic Marketer [Ad-buying agencies are cozying up to SSPs, creating more transparency questions]( After exerting their buying power and influence over other ad tech vendors, the holding groups are coming for supply-side platforms. Advertisement Sponsored by Zephr [Beyond paywalls: publishers are exploring smarter audience strategies]( Research: Monetizing content during a crisis — when advertising revenue is under extraordinary pressure — isn’t just about building a paywall. This report shows the value of developing a two-way relationship with audiences that goes beyond creating barriers to the content they want. howdy! Coronavirus Fallout ['Opening the paywall is not an option': Schibsted sees subscriptions mini-boom]( The Nordic publisher sold twice as many subscriptions the past two weeks compared to the period’s previous two weeks. howdy! DIGIDAY+ MEMBER EXCLUSIVE [Fountain of youth: Meet 7 young founders transforming media]( Media isn’t for the faint of heart, especially these days. But don’t tell that to these seven young founders. [All Latest Stories]( [Complex’s Rich Antoniello’s recipe for media in crisis: ‘Brand plus brains plus balance sheet’]( For publishing companies to survive a global crisis like the one we're in, Rich Antoniello's formula is 'brand, plus brains, plus balance sheet." He would know, having stewarded Complex through the 2008 financial crisis as CEO, the role he still holds now. But compared to that, the downturn brought about by the coronavirus pandemic is "infinitely more difficult," Antoniello said on the Digiday Podcast. You received this email because you’re a member of the Digiday community. If someone forwarded this to you, [subscribe for yourself here](#). [Unsubscribe from this newsletter or update your preferences](. I don't want to hear from Digiday anymore. [Stop receiving all Digiday emails](. Digiday Media, One Liberty Plaza, 9th Floor, New York, NY 10006 [Forward to a Friend](