Slow February Magazine Ad Market Indicates Continued Uncertainty
Press release from the issuing company
(New York, March 11, 2002) – Total magazine advertising revenue for the month of February closed at $1,105,506,784, an 8.2% decrease from last year, according to Publishers Information Bureau (PIB). Advertising pages for February were 15,326, down 16.3% from last year. Year-to-date, advertising revenue decreased 9.7%, closing at $1,905,294,060, and ad pages were 27,233, down 17.1% over last year.
February 2002 vs. 2001
Two of the major advertising categories showed positive dollar growth this February. Gains were noted in Food & Food Products and Drugs & Remedies. Losses were most notable in Transportation, Hotels & Resorts; Technology; Financial, Insurance & Real Estate; and Retail. (Twelve categories are the most significant contributors to PIB revenue, comprising more than 85% of total advertising spending.)
January - February 2002 vs. 2001
Gains were noted in four out of 12 categories for the year-to-date comparison, most notably in Food & Food Products, Drugs & Remedies, and Toiletries & Cosmetics. Losses were most notable for Technology; Transportation, Hotels & Resorts; Financial, Insurance & Real Estate; and Retail.
"The overall issue is that some advertisers were still unwilling to commit budgets in a time of uncertainty. Ongoing economic concerns delayed advertisers' commitments to 2002, and this is having an effect on magazines in the first quarter," noted Ellen Oppenheim, Executive Vice President/Chief Marketing Officer, MPA.
Enhanced and expanded PIB information is now available on www.magazine.org/PIB.
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.