World magazine adspend increased by 5% in 1998, to US$38.2 billion (£23.8 billion) according to a new report by FIPP and Zenith. The report, World Magazine Trends 1999/2000 shows that the medium is performing strongly against a backdrop of economic instability and increased competition from other media.
The report says that worldwide deregulation of the TV marketplaces during the 1980s and 1990s led to a better value for advertisers and a subsequent fall in revenue for other media. Magazines, however, have been hit less hard than newspapers. Newspapers’ share fell from 40.4% in 1986 to 33.6% in 1998, whilst magazines’ share has remained pretty stable since 1994, and has only dropped from 14.7% to 13.4% since 1986.
The report says that magazines’ strength is due to the unique advertising environment which the medium offers. “Consumer magazines are commonly produced to very high standards and their editorial tends to promote, implicitly or explicitly, a life of consumption. Business-to-business magazines allow advertisers to target members of a particular trade very precisely. Such advantages cannot easily be found elsewhere,” says the report.
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