Press advertising performed worse than we expected in 2012, with double digit declines both last year and this year now a very real possibility.
Previously resilient areas of the press have weakened. Popular national titles have seen sharp advertising declines, while faltering circulation in celebrity magazines exposes an underlying decline in demand.
Retail and services advertisers continue to pull spend from print, largely in favour of online, though TV is also very resilient. Industry efforts to offset these structural shifts include the development of trading platforms, further consolidation and a number of commercial editorial tactics.