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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.