Demand for magazine advertising pages in the US continued to deteriorate in February, with page volumes declining by 5.0% year on year, according to the latest data from the Publishers Information Bureau (PIB).
In the first two months of the year, advertising page volumes have declined by 2.7%. Revenues, on the other hand, are stronger. February reported a rise of 4.6% to $1.3 billion, putting the year to date up 7.2% at $2.3 billion.
“Pervasive uncertainty over the economy led to advertiser cautiousness during fourth quarter, when marketing decisions were made for first quarter titles,” says Harlan Schwarz, senior vice president of the Magazine Publishers of America (MPA). “We believe that magazines will benefit as the economy gains momentum,” he added.
Commentators have noted that if these figures are correct, magazine publishers have succeeded in raising ad rates by around 10% during a period of weak demand. They are less confident than Schwarz that a return to growth is upcoming.
| US Magazine Advertising Totals By Category, February 2004 |
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Feb 2004 v Feb 2003 |
Calendar Year To Date |
| Â |
% Change (revenue) |
% Change (pages) |
% Change (revenue) |
% Change (pages) |
| APPAREL & ACCESSORIES |
13.9 |
-0.7 |
17.6 |
0.8 |
| AUTOMOTIVEÂ Â |
-6.9 |
-18.5 |
2.2 |
-11.4 |
| DIRECT RESPONSE COMPANIES |
-0.7 |
-11.2 |
5.6 |
-3.8 |
| DRUGS AND REMEDIES |
-3.6 |
-11.2 |
6.3 |
-2.4 |
| FINANCIAL, INSURANCE & REAL ESTATE |
6.5 |
-5.4 |
0.7 |
-6.7 |
| FOOD & FOOD PRODUCTS |
-1.4 |
-6.3 |
4.0 |
-1.5 |
| HOME FURNISHINGS & SUPPLIES |
4.4 |
-6.1 |
6.4 |
-1.0 |
| MEDIA & ADVERTISING |
13.0 |
3.7 |
8.7 |
-4.9 |
| PUBLIC TRANSPORTATION, HOTELS & RESORTS |
17.9 |
-3.7 |
25.5 |
8.6 |
| RETAIL |
3.9 |
-6.2 |
5.5 |
-6.7 |
| TECHNOLOGY |
13.4 |
-0.6 |
-1.0 |
-7.6 |
| TOILETRIES & COSMETICS |
11.8 |
6.4 |
13.1 |
5.7 |
| Source: PIB, March 2004 |
