So much for the doomsayers.
In spite of negative industry predictions, Q3 2013 just saw a solid 4% growth in print advertising revenues, according to the latest data from the Association of Magazine Media (MPA).
This encouraging news flies in the face of Pricewaterhouse Coopers’ earlier projections that consumer ad spending would drop by at least a percent annually over the next four years, as noted in Marketing Charts’ recent post.
Digital ad revenues were also up, meaning advertisers are embracing a multi-channel approach with confidence.
According to MPA’s Mary Berner, “This is an encouraging trend, with consistent advertising growth in magazine media across platforms. Marketers are shifting dollars in some instances from print to tablet editions, but continue to invest in magazine media. Print is improving and the tablet business is growing.”
In fact the data shows that both ad paging figures and ad revenue almost doubled from this time last year. Even more encouraging is the pace at which the growth is happening, with revenues up quarter over quarter to make for a strong year-end finish.
That’s some good news we can all enjoy.