CORRECTION: Magazine Ad Revenue <strike>Rises</strike> FALLS in Q1

UPDATE: 12:30 p.m. -- Your editor took a total faceplant early this morning when he said that the Publishers Information Bureau reported a 3.9% year-over-year first-quarter increase in ad revenue, when in fact the PIB reported the opposite: a 3.9% decrease in ad revenue. Apologies for the error. Here the post, with the required correction. Total advertising revenue for magazines climbed fell 3.9% year over year to $4.05 billion in the first quarter of 2010, according to the Publishers Information Bureau. In the same period, the number of ad pages dropped 9.4% to around 35,000. Total ad revenue increased mainly thanks to There were, however, big year-over-year gains in spending by several industries: toiletries and cosmetics (up 12%); automotive (up 16%); and financial, insurance and real estate (up 18%). The industries that spent the most money in the first quarter were drug companies ($524.8 million), toiletries and cosmetics ($438.6 million), and food and food products ($465.7 million). The smallest ad spenders were financial, real estate and insurance companies ($160.9 million); transportation, hotels and resorts ($218.3 million); and technology ($175 million). Not only were the technology industry and the transportation, hotels and resorts industry the smallest contributors, they also posted the largest declines in ad spending from the first quarter of 2009. Ad spending by transportation, hotels and resorts companies fell 18%. Technology companies spent 20% less compared with the year-ago period. Although the total number of ad pages fell, a higher number of magazines showed improvement this year, compared with the first quarter of 2009: In the first quarter, 85 magazines posted an increase in ad pages, compared to 15 magazines during the same period in 2009. One hundred and one magazines registered PIB revenue gains in Q1, versus 28 titles in the same period of last year.

Fishbowl

CORRECTION: Magazine Ad Revenue Rises FALLS in Q1

Mike Taylor

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