Advertising In Gay Media Growing Three Times Faster Than Mainstream Media, 2006 Gay Press Report Finds
Annual survey finds ad spending in gay media reached record $223.3 million.
New York City (PRWEB) June 4, 2007 -- Ad spending in the gay and lesbian press has grown at almost three times the rate of consumer magazines over the past ten years, according to a major annual survey released today.
Ad spending in gay and lesbian publications in 2006 reached a record $223.3 million, an increase of 5.2% over 2005 and an increase of 205% since 1996, according to the 2006 edition of the Gay Press Report, the annual survey produced by advertising agency Prime Access Inc. and gay media representative firm Rivendell Media.
During the same ten-year period, ad revenues for all consumer magazines increased by only 47%, translating to a compound annual growth rate of 4% for consumer magazines versus a ten-year growth rate of 11.8% for gay media.
Howard Buford, founder and president of Prime Access, Inc., said the report reflects how far both corporate America and gay media have evolved since 1996, a watershed year that saw Ellen DeGeneres come out on prime time television and on the cover of Time magazine.
“This year’s report confirms how, in just one decade, gay and lesbian consumers have gone from an overlooked niche to an audience that Fortune 500 companies are working overtime to reach,” said Buford. “The numbers make it clear that corporate America recognizes and values both the spending power and influence of gay consumers.”
Among Fortune 500® brands, more than 183 were active in the GLBT consumer market (gay, lesbian, bisexual, transgender) in 2006, up from only 19 in 1994. Currently, the most popular product categories among these Fortune 500® brands are travel, financial services, automotive, fashion and entertainment.
“Over the past ten years, the gay market has become one of the most coveted demographics in the advertising industry,” said Todd Evans, president and CEO of Rivendell. “Gay and lesbian consumers have more discretionary time than their straight counterparts, and Fortune 500® companies and local businesses alike are committing more and more advertising dollars to reach them. Higher brand loyalty and less advertising clutter also make the GLBT market quite attractive.”
Produced annually by advertising agency Prime Access Inc. and gay media representative firm Rivendell Media, the 2006 Gay Press Report provides a unique, historical perspective on the gay and lesbian market. This year’s survey analyzed 131 individual publications targeting gay and lesbian consumers, including local and national newspapers, consumer magazines and entertainment guides.
Starting in 1999, Prime Access Inc. joined forces with Rivendell Media to co-publish The Gay Press Report. In the GLBT market, Prime Access represents more Fortune 500® companies than any other advertising agency. Rivendell Media represents over 200 gay and lesbian publications in the U.S. and Canada.
Among other notable findings in the 2006 Gay Press Report:
- Despite a general leveling off of the housing market, the “Real Estate” category accounted for the second-highest number of advertisements in 2006 (11.6% of total ads), up from the number three spot in 2005.
- The combined circulation of all publications constituting the gay and lesbian press reached 3,777,488, a 10.4% increase over the previous year.
- Several categories showed significant ad placement increases since 2005, including Events (+47.4%), Financial Services (+18.6%) and Retail (+18.4%).
To view the 2006 report in its entirety, please visit: http://www.primeaccess.net/gaypressreport2006.pdf
About Rivendell Media
Rivendell Media is the leading authority on the gay and lesbian press in the United States. Founded in 1979, Rivendell currently works with most advertising agencies providing effective media schedules nationally, regionally or by market. As a media rep firm, we represent over 200 local and national gay and lesbian publications in the United States and Canada.
About Prime Access, Inc.
Prime Access Inc. (www.primeaccess.net) is a multicultural advertising agency that offers a unique URBAN MAJORITY™ approach to advertising, marketing and media services. Prime Access specializes in linking clients’ brands to the values of African American, Hispanic and Gay consumers through a sophisticated mix of touch point management, including targeted advertising, direct marketing, media planning and community outreach. Its clients include some of America’s best-known Fortune 500® companies and brands.
Scott Piro
Patrick Kowalczyk
Michael Kaminer PR
212.627.8098
http://www.primeaccess.net
http://www.rivendellmedia.com
###
Post Comment:
Trackback URL: http://ca.prweb.com/pingpr.php/SGFsZi1DcmFzLUxvdmUtU2luZy1UaGlyLVplcm8=
Bookmark -
Del.icio.us |
Digg |
Furl It |
Spurl |
RawSugar |
Simpy |
Shadows |
Blink It |
My Web
|
Share The News
Submit this press release easily to any of these major bookmarking and social media sites.