Magazines are failing to capitalize on the massive growth in digital advertising spending, according to WWD.com.
A recent report by eMarketer showed that ad spend in print magazines fell 18 percent year on year, down from $10.94 billion in 2017 to $8.97 in 2018. As for digital versions of the magazines, while this rose 3.3 percent to $4.67 billion, it failed to match the double-digit growth in the digital ad market.
In terms of both print and digital, advertisers were said to have spent 12 percent less, down from $15.47 in 2018 to $13.64 billion last year.
Looking at a longer range, the data compiled showcased that print ad spend has dropped 33 percent since 2015 and 56 percent since 2008. Meanwhile, while digital spend has doubled since 2010, it has been slow growth.