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Oct 14 2008 5:08PM EDT

Magazine Ad Spending Deteriorates in Q3

Things are going from bad to worse in the magazine industry. The Publishers Information Bureau just released figures for the third quarter, and they show -- no surprise here -- an acceleration of the pullback in magazine ad spending.

Publishers sold 12.9 percent fewer ad pages in Q3 2008 versus the same period in 2008. Ad revenue -- a somewhat less reliable figure, since it doesn't reflect discounts -- was down 8.8 percent year-over year. Year to date through September, ad pages are down 9.5 percent and revenue is down 5 percent.

Spending was up in only three of PIB's 12 ad categories: retail, food/food products, and public transportation, hotels and resorts. Automotive advertising was down most sharply in the third quarter, with pages falling 27.9 percent year over year.

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