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Total magazine rate-card-reported advertising revenue for the first half of 2008 closed at $11,554,569,406, down 3.1 percent compared with the first half of 2007, according to Publishers Information Bureau (PIB), Magazine Publishers of America reported (via MarketingCharts).
Ad pages during the first half of 2008 totaled 108,924.13, down 7.4 percent compared with the first half of 2007.
Total PIB revenue for the second quarter of 2008 closed at $6,297,123,700 - a decline of 4.7 percent versus the second quarter of 2007. Ad pages totaled 58,744.77, down 8.2 percent compared with the second quarter of 2007.
Below, highlights of PIB’s analysis of the first-half results.
Sustained economic softness has negatively affected magazine advertising across a range of categories in the first half of 2008 (see table), particularly sensitive Auto sector (1H revenue, -18 percent), as well as Toiletries & Cosmetics (-6 percent), Home Furnishings and Supplies (-9 percent), Apparel & Accessories (-3 percent), Direct Response Companies (-6 percent), and Technology (-15 percent):
Drugs & Remedies (1H revenue, -11 percent) advertising across media, subject to intense regulatory scrutiny in the earlier part of the year, saw a drop in PIB revenue and pages as well, particularly in the second quarter of 2008 (2Q revenue, -19 percent) - view table.
Bucking the trend in the first half were Food & Food Products, Retail, and Public Transportation, Hotels & Resorts:
“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, EVP and CMO, 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.”
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