US magazine advertising revenues down

According to the US Publishers Information Bureau (PIB), total magazine rate-card-reported advertising revenue through the first three quarters of 2008 closed at $18,452,988,859, posting a 5% decline against the previous year, There were 164,125 ad pages generated through the first three quarters of the year, a drop of 9.5% compared to the same period in 2007.

And, for the third quarter, total magazine rate-card-reported advertising revenue was an 8.8% decrease compared to 2007's third quarter. There were 52,778 advertising pages in the third quarter, a drop of 12.9% compared to the same period in 2007.

Year to date only three categories posted gains in revenue vs. the first three quarters of 2007: Retail, Food & Food Products, and Public Transportation, Hotels & Resorts. Overall, magazine advertising was negatively impacted by the ongoing weakness in the economy for the first three quarters of 2008.

Ellen Oppenheim, Executive Vice President and Chief Marketing Officer, Magazine Publishers of America, noted that "...Consumers have cut spending and advertisers have followed suit.

“It's affected every ad category and every ad-supported sector of the media industry," he says.

For YTD magazine totals, go here.

For 3Q magazine totals, go here.

Article courtesy of MediaPost