Major players in the print advertising market are Ogilvy & Mather, MullenLowe U. S. , McCann Worldgroup, Publicis Groupe, Dentsu, Havas, Grey global, Droga 5, BBDO and VMLY&R. The global print advertising market is expected to decline from $39.
New York, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Print Advertising Global Market Report 2020-30: COVID-19 Growth And Change" - https://www.reportlinker.com/p06001453/?utm_source=GNW
30 billion in 2019 to $35.44 billion in 2020 at a compound annual growth rate (CAGR) of -9.82%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is expected to further decline and reach $30.8 billion in 2023 at a CAGR of -4.57%. Internet access, digital advertising, and an increase in the use of social media are acting as huge contributors to the decline in print production.
The print advertising market consists of the sales of advertising services and related goods by entities (organizations, sole traders and partnerships) that plan, develop, create and manage advertisement and promotional activities in print media such as periodicals and print newspapers. Only goods and services traded between entities or sold to end consumers are included.
Asia-Pacific was the largest region in the print advertising market in 2019 and is expected to remain the largest region in this market even in the forecast period.
In March 2020, Lambert & Co., a US-based public relations and integrated marketing firm, acquired Fairly Painless Advertising, Inc., a company providing marketing and advertising services, for an undisclosed amount. This acquisition is expected to move Lambert & Co. from a PR firm minoring in the ad and creative services to a fully-integrated agency majoring in the creative services and advertising field. Fairly Painless Advertising, Inc., is a US-based full-service advertising agency that provides research, planning, and creative services that cover print and digital design.
The print advertising market covered in this report is segmented by type into newspaper advertising; magazine advertising; posters and banners; others. It is also segmented by industry into retail; electronics and telecommunications; insurance and finance; automotive; others.
The potential of print advertising to connect to multiple generations is also a key driving factor for the print advertising market. A study was conducted by Temple University and the US Postal Office of the Inspector in 2019 utilizing methods such as eye-tracking, core biometrics, and neuroimaging to test the effectiveness of print versus digital ads on both young and old groups of participants. The results showed that both the age groups processed physical ads faster than digital ads. This provides companies with the advantage of targeting wider generations giving the necessary exposure to their product, which aids in the growth of the print advertising market.
The print advertising market is facing extensive competition from the newer digital advertising media such as internet and mobile advertising which is hampering the growth of the market. Companies are focusing on digital marketing means like social media for making the ads more interactive, touching, and delivering without location constraints and with faster reach. According to the Interactive Advertising Bureau (IAB) report, the internet ad revenue in 2019 was $124.6 billion. Advertisers believe that digital video is more suitable for entertaining every generation of consumers and, thus, they are choosing the digital video format, which is eliciting further growth. Therefore, the increased proliferation of digital marketing is likely to limit the expansion of the print advertising market in the coming years.
Brands have exerted towards long-form of print ads, that is, full-page, full-worded communications. This is likely to be a major trend in the print advertising market. Brands, in general, will have a lot to communicate to their customers and positions to articulate, therefore, require communication that is not limited to 145 characters, a 15-second flash of information, or a single impactful visual. For instance, in July 2020, MasterCard published a two-page broadcast in The New York Times to express its support for the LGBTQIA+ community. Also, for its support for GLAAD’s NEON Legacy Series, a photo and video collection was created by Black LGBTQIA+ creators. In 2020, P&G has published a long-form of a print ad for its product Secret Deodorant/Anti-Perspirant that focuses on asking people to take part in Secret’s call for gender equality.
The huge population that subscribes to newspapers and magazines drives the print advertising market. According to the American Press Institute survey, a majority of newspaper subscribers also pay for a print magazine, which is one of the popular publication types with good scope for ads. According to the Audit Bureau of Circulations in November 2019, The Sun newspaper sold about 1.2 million copies in the UK. People of all ages read newspapers and magazines that are the mainstay of these print advertisements, however, the majority of the subscribers who pay for newspaper subscriptions are older adults and long-time readers. They find it easy to read newspapers as it provides them the leisure to read as per their time, and also that they use significantly fewer digital applications and spend less time on gadgets. This factor contributes to the growth of the print advertising market.
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