Ad Spending Disappearing as Most Magazines Continue to FumbleSome magazines are figuring out how to drive growth online and in print, but only a few.

[Collection]The magazine industry puts on a brave face, but data doesn’t lie. New analysis from the Association of Magazine Media, which unabashedly pushed the power of print magazines as an advertising vehicle, shows an industry still trying to find its place in an instantaneous world while advertising revenue continues to slip away. Reported magazine ad spending by the 50 biggest advertisers last year fell to $6.1 billion from $6.5 billion in 2016, according to AMM’s annual report. So magazines lost at least $417.5 million in revenue last year, a difference of 6.4 percent, numbers AMM did not make readily available in its report, which was sponsored by magazine printer Freeport Press. Among the top five advertisers, Pfizer Inc.’s downshift was the most significant. The pharmaceutical company cut ad spending with print magazines by $85 million to $369 million. Johnson & Johnson also cut spending by $55 million to $240.9 million. Although L’Oreal actually increased spending last year by $15.7 million to $683.7 million, as did Procter & Gamble by a significant $142 million to $561 million for the year, it wasn’t nearly enough to make up the cuts by other firms. Other notable decreases came from LVMH Möet Hennessy Louis Vuitton, which cut spending by

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