Magazine ad spending down

The Association of Magazine Media’s annual report says that reported magazine ad spending by the 50 top advertisers dropped to $6.1 billion in 2017 from $6.5 billion in 2016, WWD reports. 

Among the biggest advertisers, Pfizer’s drop was the largest, WWD reports. The company slashed ad spending with print magazines by $85 million, to $369 million. Johnson & Johnson also lowered spending by $55 million, to $240.9 million.

Also dropping spending were LVMH Moet Hennessy Louis Vuitton, Unilever, Estee Lauder, Kering, Chanel, and Amazon, which dropped spending $37.6 million down to $44.3 million.

L’Oreal raised its spending last year by $15.7 million to $683.7 million, as did Procter & Gamble, going from $142 million to $561 million for the year.

The report also said the audience had grown for science and technology titles, a group that ticked up by 9 percent.

Conde titles Wired and The New Yorker grew their audiences, Wired by a monthly average of 28 percent and The New Yorker by 18 percent.

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