Print Media Online Ad Spend To Hit $537 Million
U.S. newspaper and magazine publishers will spend almost $537 million this year to advertise their print and online brands, according to a new report from eMarketer,"Newspapers and Magazine Online: Content Is Still King."
The report predicts that by 2011 online advertising will reach $1.3 billion, an increase of 142 percent. "Newspaper publishers have watched print ad revenues-particularly classifieds-migrate online to sites such as AutoTrader, Craigslist, Monster and Zillow.com," said Lisa Phillips, eMarketer senior analyst and author of the report. "Magazine brands with million-plus subscribers have been shuttered in favor of branded Web sites."
"This year, according to Veronis Suhler Stevenson, magazine and newspaper publishers will spend $7.7 billion on digital content and advertising," Ms. Phillips said. "By 2011, they project that spending will rise to $17.1 billion, an increase of 122%."
In the first nine months of 2007, the Magazine Publishers of America tracked 145 new digital projects, including redesigns, relaunches, audio and video podcasts, social networking features, mobile sites and webisodes.
"Without question, print publishers are focusing on the digital transformation of their brands," Ms. Phillips said. "While print products will not go away-any more than radio disappeared when TV arrived-publishers must adapt to serving two audiences, one online and the other offline."