Mag Bag: 2012 Was A Tough Year For Magazines – 12/28/2012
2012 Was A Tough Year For Magazines
2009 was miserable. 2010 wasn’t much better. 2011 was a little bit worse. And 2012 looks to be, in a word, crappy.
Magazines can’t seem to catch a break, as the ongoing transition to digital media continues to undermine print advertising, still the main source of revenue for most big publishers. According to the Publishers Information Bureau, total ad pages fell 8.6% in the first nine months of 2012, compared to the same period last year.
That follows a decline of 3.2% for the full year 2011, which followed a flat 2010, which looked positively spectacular compared to drops of 25.6% in 2009 and 11.6% in 2008 — blows from which the industry has never recovered.
Indeed, taking a somewhat longer perspective, the total number of ad pages at publications tracked by PIB has fallen from 179,339 in the first three quarters of 2006 to 110,483 in the first three quarters of 2012. That’s a 38.4% drop in six years — not quite as bad as the newspaper business, where revenues are down by half, but a steep enough decline to prompt New York Times media columnist David Carr to warn in August: “Now, like newspapers, they seem to have reached the edge of the cliff.”
See on www.mediapost.com