Latest PIB Numbers Show Sharp Decline in Ad Pages, Revenue
Magazine rate-card-reported ad pages fell nearly 26 percent for the first quarter of 2009 compared to January through March of 2008, according to Publishers Information Bureau (PIB). Ad revenue for the period declined 20.2 percent versus the same period last year.
Magazine Publishers of America Executive Vice President and Chief Marketing Officer Ellen Oppenheim cited the soft economy as the chief culprit. "The latest PIB data reflect the advertising paralysis triggered by the late 2008 economic meltdown. Marketers froze ad budgets, which affected placement in first quarter magazines," she said. "Advertising page declines were seen in the ad categories most affected by the slowdown: automotive, finance and retail."
In fact, the top 12 magazine advertising categories all saw dips in ad revenue and ad pages.
A mere 15 magazines tracked by PIB reported an increase in first-quarter ad pages over the same period of 2008.