It’s a snowball effect. As traditional newspaper circulation continues to dissolve, retailers are throwing their ad budget behind digital buys this holiday season. No news there. What is buzz-worthy is the rate at which retail ads have plummeted. Kantar Media, a research, data and insights agency, released its findings of its November and December measurements. Its research unveiled that retail spending on newspapers ads are down 30 percent so far — the biggest decline in four years.
According to the analysis, newspapers amounted for 13 percent of the slump in retailers’ total media buys including TV, newspaper, radio and digital display ads (not including paid search, online video or mobile).
It’s a chicken-egg situation. As newspapers defer to more nimble digital competitors, circulation dwindles leaving retailers with less than appealing market options. With less ad dollars, circulation plummets — and down goes the spiral. The research also revealed that national chains are pulling out of inserts, a once traditional ad placement during the holiday season.
Print publications are throwing their weight behind their digital counterparts. Newspapers might consider taking a page out of Condé Nast or Hearst’s book in order to alleviate immediate pain points. Each of the publishing powerhouses has recently announced new efforts to endure changing climates in the way readers consume news.
Earlier this month, Condé Nast announced the shuttering of Self’s print magazine, opting to push its digital presence. In October, Condé released its decision to consolidate its creative, copy and research departments across titles in addition to revamping its international Vogue digital editions.
Effective as of January, Hearst plans to combine editorial staff of five titles ‚ Seventeen, Redbook, Woman’s Day, Cosmopolitan and Good Housekeeping. While the publishing house takes a new approach for its legacy glossies, it’s also looking to new opportunities to draw in readers — and ad dollars. Food Network personality Ree Drummond will launch a namesake magazine in June 2017 under Hearst’s umbrella. Drummond boasts more Instagram followers than Seventeen and Redbook combined — likely not a coincidence.