Magazine Ad Spend To Drop Even More Steeply Than Circ Figures: PwC
Print magazines have had quite a bashing over the past few years with circulation figures dropping lower and lower due to digital growing exponentially. However, one worrying trend that appears to show no sign of slowing down is the gap between the depleting number of ad dollars given to print magazines compared to the number of people who pay for magazines.
The latest annual projections coming out of professional services network PricewaterhouseCoopers (PwC) show for 2019 consumers spending the moolah on print magazines will drop from $775 million in 2014 to $722 million in 2019, a drop of $53 million.
However, it’s expected ad spend in consumer magazines will fall almost double that, from $453 million in 2014 to $351 million in 2019.
Aussie editor of the PwC report, Megan Brownlow, told B&T publishers are justified in feeling a put out by this.
“The previous rule that eyeballs equal revenue seems to be being challenged,” she said.
“You’ve got a situation where it’s almost like magazines have gone out of fashion and the readers are still there in bigger numbers than the advertising revenue suggests.”
Measurement of magazines and readership is playing a part in the issue though, suggested Brownlow, as in digital you’ve got oodles of data at your fingertips, which “buyers think it’s the more accountable sector”.
Readership data from companies such as Roy Morgan and Ipsos with its enhanced media metrics Australia (emma) data are a “step in the right direction” for the industry, however she added, “whether or not that’s having traction with agencies is debateable”.
Brownlow instead lauds over the trade campaigns in numerous publications that talk about the power and positive attributes of magazines as “that’s exactly how consumers feel about magazines”.
“It’s just a disadvantage not being able to attribute that love and engagement as clearly as you can through a click,” she said.
Since the surge of digital and the drop of print circulation figures, magazine publishers had hoped transitioning the printed copy online in a downloadable format would help scale the dropping figures.
The uptake hasn’t had the desired outcome though, prompting Peter Zavecz, CEO of mag publishing giant Pacific Magazines, to tell PwC when people interact with a magazine they want a ‘lean back’ experience, rather than flicking through on an iPad or the like.
“It’s just a signal that readers have a different experience [with a magazine], the more functionality [built into the app] the less the response by consumers,” he said in the report.
Longer and deeper brand partnerships was another core trend PwC saw emerging, with the likes of Pac Mags’ marie claire and Girlfriend creating The Parcel, a beauty product filled entity consumers can sign up – a partnership between consumers, the magazine and numerous beauty brands.
Newspapers
Meanwhile, over in the land of newspapers, the digital market advertising market and the print ad market are nearing each other more and more.
Per the report, circulation revenues is expected to provide the majority of revenue, however the ad spend will deplete, a not unexpected trend.
The current projection is a drop in print ad spend of $834m by 2019, roughly half of the ad spend in 2014 ($1,667m).
By 2019, PwC predicts newspaper circulation print spending will drop by about half, from $1,218 million in 2014 to $612 million in 2019.
However digital spending will hopefully increase from $76m to $372m by 2019.
Please login with linkedin to comment
Advertising Standards Bureau Anniversary dark humour MasterChef Australia sarah wyse The EdgeLatest News
The Mars Agency Announces Latest Findings Of Retail Media Report Card
The Mars Agency has developed a scorecard that assesses the capabilities of leading platforms across key criteria required to optimally plan, execute, and measure effective retail media programs. The scorecard aims To help brands efficiently evaluate their spending options across retail media networks in Australia (and New Zealand). With spending on retail media advertising in […]
‘It’s The Lesser Of Two Evils’ – NRL Eyes US Betting Market As Aussie Regulators Circle
US betting firms will be delighted by the circa 50,000 Americans who could soon watch the NRL on their favourite app.
A-League In Deep Discussions With New Partner To Keep Games On TV After Production Company Enters Administration
The A-League's insatiable appetite for scoring own goals continues.
TV Ratings (27/03/2024): Jungle Members At War Over Concealed Lipstick
A heated argument between two jungle members did the numbers for Ten last night, with I’m A Celeb obtaining a total national reach of 1,282,000. Fans were delighted as Candice Warner and influencer Skye Wheatley got into it over a stick of lipstick, leading Warner to dub the Instagram star “selfish.” Wheatley, best known for […]
Is The Australian Music Industry In Trouble? Inquiry Launched Following Splendour Cancellation
Earlier this week, an inquiry was launched into the challenges and opportunities currently facing the Australian live music industry in the wake of multiple festival cancellations. On 25 March 2024, the Minister for the Arts, the Hon. Tony Burke MP, asked the Committee on Communications and the Arts to inquire into and report on the […]
Liana Dubois, Leandro Perez, Aimee Buchanan & More Gather For Inaugural Compadres Leadership Event
Didn't get the invite? Perhaps you're not as important as you thought.
Cathay Captures The Unforgettable Thrill Of Cathay/HSBC Hong Kong Rugby Sevens, Via Publicis
Nobody does rugby like Hong Kong, apparently. Certainly nobody does it as badly as Australia.
Cocogun Nabs Christine Watts, Kirsty Reynolds & Shev Tan Bolstering Management & Creative Teams
Cocogun bolsters its team with new hires. Committed to purchasing a bigger sofa, too.
The Media Store’s Jacquie Alley & Sam Cousins Take The Plunge With Pro-Bono Work For Cure Cancer
B&T chats with The Media Store bosses about their great pro-bono work and sponsored swim.
Hawke’s Brewing Co. Taps Rocket Comms For PR Agency Following Competitive Pitch
We're expecting Rocket Comms productivity to crash in spectacular fashion following this win.
Spotlight On Sponsors: Patties Serves Up A Taste Of Home For Olympians & South Sydney Rabbitohs Recommit To Gambling Reform
While the Rabbitohs commits to gambling reform, B&T reckons the team should commit to a decent auto sponsor.
Google: “Inevitable” That Bad Actors Will Abuse Ads Platform As Advertiser Account Suspensions Double
Google maintains it's simply impossible for it to entirely stop bad people placing & paying for ads using its service.
Quantcast Expands APAC Sales Team With Appointment Of News Corp Account Manager
No pressure at all when you are appointed as a client success manager.
Publicis Sapient Tests Microsoft-Powered Gen AI Search Tool With Homes & Villas By Marriott Bonvoy
Given Gen AI's record for mangling stuff, B&T cannot see the problem with letting it decide your next holiday digs.
Volkswagen & DDB Group’s “Roo Badge” To Reduce Kangaroo Related Road Collisions
Watch out for RooBadge as Cannes Lions' most debated campaign this year.
Twilio Launches Unified Profiles & Agent Copilot Features To Boost Productivity & Engagement
Agent Copilot sounds like James Bond's less interesting cousin.
Reebok & Honda Among New Clients For onetwo agency
OneTwo finally lives up to its name with this double billing.
Ogilvy Report: Throw Out The Social Strategy Rule Book, The Rules Of The Past No Longer Apply
B&T was puzzled that all 'influencers' aren't, effectively, 'virtual', but here we are.
WhiteGREY & AKQA Merge In Australia, Lee Simpson Departs
Fortunately, the combined agencies aren't opting for a trite portmanteau for the new name.
Splendour In The Grass 2024 Music Festival Cancelled!
Music fans all over the country reportedly relieved they can pack away their rain coats and gumboots for another year.
TV Ratings (26/03/2024): “Fairy Bread, F***ing Disgusting”: Gordon Ramsay Slams Aussie Food In Food Stars Launch
Ramsay not one for mincing his words, even when it comes to minced meat pies.
Paramount+ International Boss Doubles Down On Aussie Content, Says Ad-Tier will Grow Audiences And Revenue
Good news as Paramount will not be binning I’m A Celebrity for re-runs of Frasier.
Brent Smart: Telstra Pushing For 50-50 Brand-Performance Split But Warns Numbers ‘Won’t Look Great’ Initially
The old brand vs performance debate continues. But here, Brent is firmly sitting on the fence.
Crowded House, Tones And I & Dom Dolla Win Big At The Shure Rolling Stone Music Awards
B&T staffer reports back with humdinger of a hangover & feeling seriously uncool after mixing with music types.
Opinion: Dyslexia “A Hidden Gem” For Brands & Agencies
Dyslexics offer underappreciated benefits in the corporate field, according to this op-ed.
David Jones Taps Criteo To Power Online Retail Media Arm
Want to see ads for things you probably can't afford? David Jones has got you covered with new retail media play.
oOh!media Sets Up Team To Target Business Audiences Across Airports & Offices
oOh! wants brands to harass you every minute of your next business trip.
QMS Launches Australian First DOOH & TV Partnership With Samba TV
Samba TV, of course, is not a channel dedicated to dancing. Much to our dismany.
Slew Of New Hires At Amplify
Four new faces join the Amplify offices. Team say desk scarcity becoming "acute".
Adobe Announces Content Authenticity Initiative Expansions To Counter Deep Fakes
Try as they might to enlighten them, we suspect Trump supporters will continue to watch and believe Fox News.
The PR Group Appoints TechCrunch Senior Reporter Catherine Shu As Director Of Content & Media
Catherine Shu makes the bold leap from journalism to PR. Says inevitable pay bump was "unrelated".
HERO Nabs Ebony Santin From AMPR
Rumours Santin cleared out the stationery cupboard before departing are as yet unconfirmed.
Karena Noble Checks Out Of EVT Hotels & Resorts To Launch Comms Consultancy
Noble still managed to squeezed in a continental breakfast before departing.
Canva Acquires Design Platform Affinity To Bring Professional Design Tools To Every Organisation
Canva & Adobe face off continues. We're not picking sides but keenly aware that Canva's office is next door to ours.
“Lean On Our Team To Help You Find An Audience”: Why Understanding Audience Engagement Is Essential In Journalism
Engaging the audience is critical to journos, apparently. We'd thought self-loathing & alcoholism were key.
Adobe Summit: Major Gen AI Developments, Data Concessions & Partnerships
What happens in Vegas stays there. Unless it's the Adobe Summit and then you get to read about in B&T.