“We’re seeing the unfortunate result of the ongoing softness in the economy,” said Ellen Oppenheim, exec VP-CMO of the Magazine Publishers of America, which released the PIB figures. “Consumers have cut spending and advertisers have followed suit. It’s affected every ad category and every ad-supported sector of the media industry.”
Only three ad categories showed revenue gains in the first three quarters of this year: retail (4.5%); food & food products (3.4%); and public transportation, hotels & resorts (3.1%).Magazine rate card-reported advertising revenue for the third quarter totaled $5.99 billion, down 8.8% from the year-earlier period. Ad pages declined 12.9% to 52,778.