The Business Insider
by Eric Krangel
More glum news for magazines: The total ad spend for all periodicals plunged 20.2% year-over-year in the first quarter to $4.2 billion, says the Magazine Publishers of America.
And while print media’s problems are something of an old story, the problem is getting worse. In the fourth quarter, the ad spend was only down a relatively modest 13.8% from the same time a year prior.
Particularly hard hit this year:
* Inc., down 62.1%
* Wired, down 50.4%
* New York Times Magazine, down 38.8%
Also hit hard: US News & World Report, down 81.8%, and Conde Nast Portfolio, down 48.8%. But that’s obvious: Both US News and Portfolio cut their publication schedules heading into Q1.