According to Publishers Information Bureau (PIB), Magazine Publishers of America reported that total magazine rate-card-reported advertising revenue for the first half of 2008 closed at $11,554,569,406, down 3.1% compared with the first half of 2007,
Ad pages during the first half totaled 108,924.13, down 7.4% compared with the first half of 2007.
Total PIB revenue for the second quarter of 2008 closed at $6,297,123,700 - a decline of 4.7% versus the second quarter of 2007. Ad pages totaled 58,744.77, down 8.2% compared with the second quarter of 2007.
Highlights of the PIB analysis of the first-half results indicate that sustained economic softness has negatively affected magazine advertising across a range of categories in the first half of 2008, particularly sensitive Auto sector, as well as Toiletries & Cosmetics, Home Furnishings and Supplies, Apparel & Accessories, Direct Response Companies, and Technology:
Ad revenue and Pages 1st Half 2008 vs. 2007 | ||||
Class Name | 2008 Dollars | % Chg (From 2007) | 2008 Pages | %Chg (From 2007) |
Drugs & Remedies | $1,157,739,820 | -11.4% | $8,636.68 | -13.2% |
Food & Food Products | 1,154,051,282 | 15.2 | 7,378.96 | 6.9 |
Toiletries & Cosmetics | 1,128,808,862 | -6.4 | 8,232.42 | -11.1 |
Apparel & Accessories | 921,952,395 | -3.1 | 10,516.75 | -4.1 |
Retail | 894,426,936 | 11.2 | 8,586.83 | 2.3 |
Direct Response Companies | 838,883,398 | -6.1 | 8,238.39 | -10.3 |
Media & Advertising | 821,777,765 | 1.1 | 7,021.50 | 0.8 |
Automotive | 772,955,474 | -17.7 | 6,846.63 | -21.3 |
Public Transportation, Hotels & Resorts | 630,255,367 | 5.3 | 7,459.90 | 0.5 |
Home Furnishings & Supplies | 628,493,221 | -8.7 | 5,574.06 | -14.1 |
Financial, Insurance & Real Estate | 588,161,903 | 1.8 | 6,008.79 | -5.1 |
Technology | 406,126,131 | -15.0 | 3,959.26 | -17.5 |
Source: Publishers Information Bureau, July 2008 |
Drugs & Remedies (1H revenue, -11%) advertising across media, subject to intense regulatory scrutiny in the earlier part of the year, saw a drop in PIB revenue and pages as well, particularly in the second quarter of 2008 (2Q revenue, -19%):
Ad Revenue and Pages 2nd Quarter 2008 vs. 2007 | ||||
Class Name | 2008 Dollars | % Chg (From 2007) | 2008 Pages | % Chg (From 2007) |
Toiletries & Cosmetics | $674,676,560 | -9.4% | $5,039.54 | -12.7% |
Food & Food Products | 579,847,488 | 3.7 | 3,790.57 | -3.0 |
Drugs & Remedies | 577,112,953 | -18.5 | 4,328.12 | -20.5 |
Retail | 478,941,661 | 14.0 | 4,430.60 | 2.8 |
Apparel & Accessories | 466,710,640 | -3.5 | 5,168.48 | -3.4 |
Media & Advertising | 459,822,987 | 1.2 | 3,860.73 | -0.5 |
Direct Response Companies | 421,970,353 | -4.0 | 4,225.80 | -6.3 |
Automotive | 418,946,427 | -18.3 | 3,772.44 | -21.5 |
Home Furnishings & Supplies | 393,808,144 | -7.1 | 3,427.11 | -13.6 |
Public Transportation, Hotels & Resorts | 349,553,352 | 4.7 | 4,078.92 | 1.4 |
Financial, Insurance & Real Estate | 326,260,002 | 1.9 | 3,351.20 | -4.8 |
Technology | 199,094,018 | -18.4 | 1,970.00 | -19.5 |
Source: Publishers Information Bureau, July 2008 |
Bucking the trend in the first half, notes the report, were Food & Food Products, Retail, and Public Transportation, Hotels & Resorts:
Ellen Oppenheim, EVP and CMO, Magazine Publishers of America, notes that "The magazine ad trend this year is similar to the last two drop-offs - in the early 1990s and earlier part of this decade - when PIB revenue and pages declined, but later rebounded as the ad market picked up."
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