British media group United Business Media announced Wednesday that its US-headquartered magazine and events arm CPM Media had experienced a slowing rate of decline in advertising. Slowing, that is, to a mere 40%.
In November, ad page volumes for the division fell 39.8% year-on-year. Though a sizeable fall by any stretch of the imagination, it is undeniably less than the 41.5% registered in October. It brings the total decline in ad pages in the twelve months to November to 25.4% – a veritable snail’s pace.
Despite such hefty falls, UBM was quick to point out that CPM is doing better than the market as a whole, where the fall in ad page volumes accelerated from 46.3% in October to 49.3% the next month, with a downturn of 34.6% in the year to November.
Recovery may still be some way off – technology advertising, a staple of UBM’s publications, tumbled 67% in November and could fall further, according to recent estimates in the Wall Street Journal.
News source: Financial Times