Revenue Rises Despite Tight Ad Market
Even in a tight ad market, revenue continues to rise year over year according to recent statistics released by the Publishers Information Bureau.
Advertising revenue in November 2003 posted a 7.7% increase of November 2002, closing at $1.89 billion. Ad pages, however, declined 2.8% compared to last November, totaling 23,754.46, the PIB report said. With 10 of the 12 major advertising categories posting gains, year-to-date advertising revenue closed at $16.56 billion, an increase of 8.6%, while ad pages nearly pulled even, dropping a half percent year to date.
"We're heartened to see a number of categories post page and revenue gains in November," Ellen Oppenheim, executive VP of Magazine Publishers of America said. "The month reflects an interesting pattern compared to October and year to date. For example, Food & Food Products, supported by strong spending by food advertisers across the board, and Technology, bolstered by manufacturers of computer, photography and telecommunications equipment, posted higher revenue and pages than October and full year. At the same time, Automotive showed some softness compared to earlier in the year."
In addition to 10 of the 12 top advertising categories experiencing growth in ad revenue over November 2002, five of the categories benefited from an increase in ad pages. The Drugs & Remedies, Food & Food Products, Media & Advertising, Retail and Technology sectors registered significant increases in both revenue and pages. Half of the major categories registered declines in pages, most notably Apparel & Accessories and Automotive. The 12 categories are the most significant contributors to PIB revenue, comprising more than 85% of total advertising spending.
A breakdown of the performance in each category can be found at www.Magazine.org.