Consumer Magazine Spending Tops £2 Billion
The Advertising Association has published new research by the World Advertising Research Centre (WARC), showing an increase in consumer spending on magazines, topping the £2 billion mark for the first time.
The new figures also show expenditure to have increased by £54 million year on year, equating to a rise of 34% in real terms over the past decade, despite the proliferation of internet access, multi-channel TV and developments in other media over the same period.
Consumer spending on magazines in Britain now totals £2.031 billion, having risen for the fourth consecutive year. The latest data shows total sales in 2004 to have risen to 1.34 billion, an increase of 14 million copies.
The most prominent increase in sales, according to WARC, has been seen in the weeklies market, which has grown by 31 million copies, spurred on by an increase in the number of titles in the sector.
Magazine launches, combined with an increase in the total number of distributed titles, have fuelled industry growth, the new research claims, with new magazines such as Grazia, Pick Me Up, TV Easy, and Easy Living enjoying early success (see ABC Results Jan-Jun 2005:New Launches Boost Women’s Weeklies ABC Results Jan-Jun 2005:New Launches Boost Women’s Weeklies ).
There is still room for improvement within the market, however, with WARC reporting advertising revenue to have remained relatively static. The average revenue per magazine is currently at a comparable value to 15 years ago, leading to aggressive competition for share, which benefits magazine advertisers.
Commenting on the latest figures, Phil Cutts, director of marketing at PPA Marketing, said: “The WARC report, combined with the strong performance of consumer magazines in the recent ABC report, demonstrates in real terms that consumers’ increasing appetite for magazines shows no signs of abating.
“As the magazine industry blossoms, more genres, titles and frequency will offer advertisers a continuing wealth of opportunities to connect with their consumers.”
Advertising Association: 020 7828 2771 www.adassoc.org.uk