New York, NY (October 14, 2008)-Total magazine rate-card-reported advertising revenue through the first three quarters of 2008 closed at $18,452,988,859, posting a 5% decline against the previous year, according to Publishers Information Bureau (PIB). There were 164,125 ad pages generated through the first three quarters of the year, a drop of 9.5% compared to the same period in 2007.
For the third quarter, total magazine rate-card-reported advertising revenue generated $5,988,323,154, which was an 8.8% decrease compared to 2007's third quarter. There were 52,778 advertising pages in the third quarter, a drop of 12.9% compared to the same period in 2007.
Year-to-date 2008 vs. year-to-date 2007
Only three categories posted gains in revenue vs. the first three quarters of 2007: Retail (4.5%); Food & Food Products (3.4%); and Public Transportation, Hotels & Resorts (3.1%). Overall, magazine advertising was negatively impacted by the ongoing weakness in the economy for the first three quarters of 2008. For the first three quarters of the year, categories that posted declines in both revenue and ad pages were: Toiletries & Cosmetics; Apparel & Accessories; Drugs & Remedies; Media & Advertising; Direct Response Companies; Automotive; Financial, Insurance & Real Estate; Home furnishings & Supplies; and Technology.
"We're seeing the unfortunate result of the ongoing softness in the economy," noted Ellen Oppenheim, Executive Vice President and Chief Marketing Officer, Magazine Publishers of America. "Consumers have cut spending and advertisers have followed suit. It's affected every ad category and every ad-supported sector of the media industry."
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