Latest PIB Report Shows Sharp Declines in Ad Revenue, Pages
Total magazine rate-card-reported advertising revenue for the first half of 2008 closed down 3.1 percent to $11,554,569,406 compared to the first six months of 2007, according to Publishers Information Bureau (PIB). Ad pages posted an even steeper decline, falling 7.4 percent over the same period.
The second quarter of 2008 experienced a 4.7-percent decline compared to Q2 2007 and ad pages fell 8.2 percent compared to the same quarter last year.
“Recent reports indicate a downward trend in overall ad forecasts for 2008, which is reflected in PIB first half numbers for magazines,” said Ellen Oppenheim, executive vice president and chief marketing officer, Magazine Publishers of America. “The magazine ad trend this year is similar to the last two drop-offs—in the early 1990s and earlier part of this decade—when PIB revenue and pages declined, but later rebounded as the ad market picked up.”