Could it be that print magazines are finally on the positive side of the “U” in their recovery? The most recent stats on print advertising activities suggest that this may be so – if only slightly.
In statistics released this past week by Publishers Information Bureau, this data aggregator found that across all of the magazines tracked by the bureau, print advertising rose ~2.5% during the first quarter of 2011 compared to the same period last year. While not large, it is a gain, which is better news than most publications have had in quite a while.
PIB charted advertising growth in seven of the twelve advertiser categories it tracks, with the following segments showing increases year-over-year:
Apparel and accessories
Cosmetics and toiletries
Drugs and remedies
Financial, insurance and real estate
Media and advertising
As for the other categories, advertising was roughly even in women’s fashion and beauty magazines, while advertising categories that continued to decline were retail, food, home furnishings, and travel.
More specifically, how did some of America’s largest and most famous magazine brands fare? The answer is: “It depends.”
The Economist: +4%
The New Yorker: +4%
Harper’s Bazaar: -11%
There are explanations behind the outliers’ advertising performance. BusinessWeek has undergone an extensive redesign since its purchase by Bloomberg, and major resources have been poured into the publication to raise its profile and editorial muscle.
At the other end of the scale, Newsweek has struggled in the wake of its purchase by nonagenarian Sidney Harman, the retired chairman of Harman International Industries (Harman/Kardon) and husband of Jane Harman, executive director of Wilson International Center for Scholars and an ex-congressperson from California. Bringing Tina Brown onboard as “celebrity editor” at Newsweek hasn’t paid big dividends yet – at least in terms of advertisers returning to the magazine.
Does the uptick in advertising mean that print magazines are out of the woods yet? Hardly. Let’s not forget that the improved advertising figures are coming off of 2010’s low base levels that are nothing short of ugly. Print advertising is slowly emerging from the worst business environment faced by magazines since the Great Depression, after all.
But at least the direction is now “up” …