New York and People had good 2011s, but the overall industry once again found itself in a rut, as ad pages dropped three percent overall. The fourth quarter of the year was the harshest. According to the New York Times, ad pages dropped eight percent from 4Q in 2010.
Nina Link, President of the MPA, told the Times that there were several factors contributing to the drop off in spending as the year went by:
In the second half of the year, ‘advertisers grew more skittish,’ she said in a statement, as they reacted to economic setbacks like ‘diminished consumer spending’ and ‘wild stock market swings.’
Ad pages in the Food and home furnishings/supplies categories dropped the most in 2011, down 17 and 16 percent, respectively.
If you’re upset about the drop in ad spending, we suggest you go to Broadway and 22nd and pound your fists on Restoration Hardware’s windows. That’ll probably make you feel better.