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Bouncing back
While Standard Media Index (SMI) data quoted ad spend for magazines down 43% year-to-date in July, it doesn’t take into account the direct deals taking place in the industry. According to Nielsen Ad Intel, direct advertising represented more than 60% of magazine ad revenue from January to July this year. As a result, advertising in magazines was down only 22% from January to August compared to the previous year.
When put up against the decline other media channels have faced in 2020, magazines are faring substantially better. Direct mail was hit with a 72% decline, cinema dropped 69% and out-of-home ad spend went down 29%.
For many publishers, pivoting their strategy has been essential this year to attracting advertising dollars and bouncing back. Melbourne-based independent publisher Grin, whose publications are predominantly travel focused, had to shake up its entire approach as international borders closed.
“We publish three outbound travel magazines,” Grin managing director Justin Jamieson tells AdNews. “So not only have we been hit with the decline in general advertising in publishing, but we’ve also been smashed by international travel being put on complete ice.”
Grin’s biggest publication, Get Lost, had to shift everything it had built its brand around. Content had to transform from adventurous international holidays to a predominantly domestic focus to keep its audience engaged. Jamieson says this was done carefully to ensure they didn’t bastardise the brand.
It had also taken a massive hit with advertisers. Advertising from cruise ships, airlines and tourism boards make up roughly 70% of the magazine’s revenue.
“A big thing for us was showing that this type of traveller, they’re looking for those independent unique experiences and there are those [experiences] in Australia that haven’t potentially been seen yet,” Jamieson says.
“Then it was about showing advertisers, domestic tourism boards and even Tourism Australia that this type of traveller still needs content and wants to be inspired for when borders open.”
The team also used this year as an opportunity to ramp up its digital footprint and communications to its database.
Top 10 Digital
Digital
Rank
Title
1
Taste.com.au
4345
2
New Idea
1336
3
Delicious
1078
4
Who
1047
5
Which Car
799
6
Better Homes and Gardens
797
7
Reader's Digest Australia
440
8
Australian Gourmet Traveller
397
9
Vogue
391
10
that's life!
270
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