What once was a key media channel accounting for 16% of overall advertising spend in 2009, print is fast becoming a medium used for niche opportunities alongside the traditional retail messages now making up only 6% of spend in 2016.
Over the past 7 years, both print formats continually decrease in ad spend whilst all other channels see growth (see below chart).
If we look globally, there has been recognition of the declines across print, both positives and negatives. The New York Times released a statement that they are not worried about the 18.5% drop in print advertising as they leverage cross platform opportunities with new digital offerings such as cross platform package deals. On the other hand, Bauer Australia pulled out of circulation auditing restricting their titles to readership data only.
With the trend of overall decline across both circulation and readership, we are yet to see any sign of stability for Newspapers and Magazines. An average -2% (-19,000) decline was reported for circulation from last quarter and an average -3% (-178,000) in readership.
With this in mind, both Newspapers & Magazines still have a role to play as long as the creative is complementing the format and not over-investing when planning multiple insertions (considering readership across days). Also on a positive note the heavy users are largely now made up of people 40+, the demographic that can be expensive to reach on the new formats i.e. mobile.