The ad revenues of print consumer magazines will continue to drop in 2010-2012, according to a new report from consulting firm PricewaterhouseCoopers (PwC), Mediapost reported on Wednesday.
The total ad revenue of consumer magazines fell 21 per cent in 2009, and will witness another seven per cent decline in 2010, says the report.
PwC forecasts a 3.5 per cent drop in 2011 and a 1.1 per cent drop in 2012. It predicts a less than one per cent increase in 2013.
Another forecast by research firm Magna says that consumer magazines will continue to suffer a drop in revenues, of 6.2 per cent in 2010, 2.2 per cent in 2011 and 2.1 per cent in 2012. There will be a total loss of 42 per cent over the decade, from $22.4bn in 2006 to $13bn in 2015, the report adds.
From 1970-1999, the percentage growth rate in magazine ad pages matched or exceeded the GDP per cent growth rates in 19 out of 30 years. But from 2000-2009, they only beat GDP in 2004.
Magna predicts a decline in ad revenues for newspapers as well.