Numbers Don’t Lie: Magazines tanking while social media soars

Two sets of numbers recently came across my screen that illustrates the wrenching changes in media and marketing.  MIN Online has released 2009 first half numbers for monthly magazines and it is ugly.  Yes, we are in a tough recession, but these steep drops are more about the decline and fall of print advertising supported media.  Here is a snippet of the carnage as reported by MediaPost News:

The losses were widespread, with only eight out of the 118 titles tracked by MIN showing an increase in ad pages.  Among women’s lifestyle titles, Allure, Lucky, Vogue and W are all down over 30%. Auto and enthusiast titles (mostly targeting men) are sharply down, with drops of over 30% at Power & Motoryacht, Boating, Automobile, Motor Trend and Road & Track, Details, Maxim and GQ are also down over 30%, as are music monthlies Spin and Vibe and food titles Gourmet and Bon Appetit.

The brands mentioned above were formally profit generating powerhouses in lucrative categories.  The bulk of these pages are not coming back after the recession nor are closed newspapers going to spring back to life.  The ad market is undergoing a structural change.  Print is caught is a vise – readers have moved on to online media (more about that soon) and marketers are looking for measurable results that drive sales.  It is hard to make that case with a $50,000 branding ad in a monthly glossy magazine.

At the same time social media is on fire.  Facebook is now getting 300 million unique visitors per month, a 160% increase from a year ago.  This April, Twitter received 32 million world wide uniques, up 70% in a month!  MySpace has been flat at 123 million uniques per month while Facebook and Twitter grow unabated.  MySpace is going to end up the Netscape Navigator of its time. 

Since there are still only 24 hours in a day, something must be suffering with people spending all that time with social media.  Spring 2009 MRI readership shows a significant decline in magazine readership in the past year.

This has huge implications for marketers as they decide on their strategies for coming out of this economic downturn.  Reaching customers and prospects the old fashion way, is well, old fashion.  More than ever, it is imperative for marketers to turn to content market, storytelling and private media channels for measurable results.  And, now is the time to harness the power of social media.   Tweet now or forever hold your peace.