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Magazine Ad Revenue Up 6.3%, Pages Show 1% Decline

Press release from the issuing company

New York, NY (January 20, 2004) Total magazine advertising revenue for December 2003 increased 3.1% compared to December of last year, closing at $1,692,335,142, according to Publishers Information Bureau (PIB). Ad pages for December totaled 19,809.69, a decline of 4.6% from 2002.  Year-to-date, advertising revenue closed at $18,346,639,262.94, an increase of 6.3%, and ad pages were 226,049.61, down 1.0% from 2002.   The 2002 and 2003 ad revenue for Condé Nast Publications, Fairchild Publications and Golf Digest Companies, divisions of Advance Magazine Group, is now reported on a national page rate basis, as opposed to a category rate basis. The 2002 ad revenue has been restated to allow for consistent year over year comparison. “The PIB review process surfaced the impact of the reporting change, and steps were taken to ensure that the data are accurately represented,” said PIB Council Chair Dom Rossi, Vice President & Executive Director of Corporate Sales, Reader’s Digest Association, Inc.  “As is true with any reporting procedure, when a significant change is noted, a review is in order, and one is underway.”   “Taking the restatement into consideration, major categories, such as Automotive, Drugs & Remedies, Home Furnishings & Supplies and Toiletries & Cosmetics, showed strength in 2003, reflecting consumer behavior in the past year,” stated Ellen Oppenheim, Executive Vice President/Chief Marketing Officer, Magazine Publishers of America. “In addition, we are encouraged that categories such as Financial, Insurance & Real Estate and Media & Advertising exhibited a late-year improvement.“ December 2003 vs. 2002 (Click here for Magazine Totals)Seven of the 12 major advertising categories experienced growth in ad revenue over December 2002, while five categories saw an increase in pages.  Home Furnishing & Supplies; Media & Advertising; Retail; Financial, Insurance & Real Estate; and, Direct Response categories registered increases in both revenue and pages.  Four of the major categories posted declines in pages and revenue, and these include Automotive; Toiletries & Cosmetics; Drugs & Remedies; and, Beer, Wine & Liquor. (Twelve categories are the most significant contributors to PIB revenue, comprising more than 85% of total advertising spending.) January – December 2003 vs. 2002 Nine of the 12 major advertising categories sustained dollar gains for the year-to-date comparison, while five categories saw growth in ad pages. Page and revenue increases were seen in Automotive, Drugs & Remedies, Home Furnishings & Supplies, Toiletries & Cosmetics and Retail. Direct Response; Financial, Insurance & Real Estate; and, Public Transportation, Hotels & Resorts experienced declines in both dollars and pages, year-to-date.