Magazine and newspaper executives are struggling with a business model that requires digital transformation yet they must serve advertiser and agency executives who continue to measure them based primarily on legacy value measures. Newspaper and magazine digital ad revenues are projected by MyersBizNet to generate 14% and 19% average annual growth respectively through 2020, while their legacy ad revenues are forecast to decline 10% and 6% annually. While print media companies are investing in expanded portfolios to compete more effectively with both digital media and television, advertiser and agency executives express lukewarm enthusiasm for these investments and remain embedded in traditional business models.
A new study by MyersBizNet conducted among advertiser and agency executives responsible for magazine and newspaper buying and planning decisions finds less than 25% consider native (branded) content and digital video content extensions to be very important to their decision-making process. Conversely, almost two-thirds consider return-on-investment based research to be very important, and more than three-quarters rely on audience demographics and targeted audience reach.
Similar results were reported last week by MyersBizNet, suggesting that television advertisers are equally less interested in new resources and capabilities, and remain focused primarily on traditional metrics and currencies.
How Relevant is Each of the Following in the PRINT Media Selection Process?
Percent of advertiser and agency respondents with newspaper/magazine responsibility rating each category top three-box (8/9/10) on a ten-point scale for importance and relevance.