Traditional media saw advertising investment decline by double-digits in 2020 and, to make it worse for publishers, print newspapers and magazines are the only media to recover none of last year’s lost value. Instead, a shift to digital is the strategy of choice for many advertisers.
Globally, WARC Data estimates that newspaper and magazine print advertising revenue fell by a quarter last year, following almost a decade of decline. Travel and tourism, one of the worst hit sectors by COVID-19, is the fourth largest print advertiser and cut investment by almost a third.
This year will offer little in terms of a bounce-back, with the total level of print investment expected to be largely flat.
For many publishers, though, digital activity has been the area of growth. Data from the Advertising Association and WARC shows that digital ad revenue doubled in value between 2011 and 2019. Over the same period, print investment more than halved.