In a passionate op-ed, publishing analyst and board member of the Magazine Innovation Center, Bo Sacks, asks why so many advertisers are forsaking trusted media and diving deep into uncharted digital waters. Over to you, Bo…
In the intricate 100-year-old dance of media and advertising, a baffling trend has continued for a decade or more that puzzles even the most seasoned magazine industry experts.
Advertisers, in a bewildering ongoing shift, are increasingly forsaking the venerable and esteemed realm safety of magazine publishing—a proven bastion of credibility, steadiness, and trust—for the treacherous and opaque waters of digital advertising.
Despite the billions lost to the voracious maw of online fraud, brands appear strangely at peace with charting a course through this nebulous domain. It’s not just a matter of navigation; it seems they’re deliberately choosing a path lined with dubious rewards. This shift is a riddle wrapped in a mystery, where the only apparent motive is an insatiable and incurable greed. The underbelly of the internet is awash with money siphoned through deceit and criminality, and it’s this shadowy world that seems to continue to allure advertisers away from the light.
The situation presents a stark dichotomy: advertisers are either blissfully unaware of the rampant deception in digital advertising or, more troubling and believable, they are cognizant yet reluctant to return to the tried-and-true sanctuary of magazines. In a time when consumer trust is more precious than ever, magazines shine as paragons of journalistic integrity, standing in stark contrast to the dubious tactics that taint digital ad expenditures.
Riddle me this: Consumers trust print ads more than digital ones. A Conquest Graphics study revealed that 82% of consumers trust print advertisements the most when making a purchase decision, compared to only 42% trusting online ads.
To overlook the value of magazines—a foundational pillar of journalistic ethics—is no trivial error. It is a grave and lamentable blunder.
Magazines offer a level of authentic engagement with their audience that is rare and prized, especially in an era brimming with ephemeral and deceptive online content. They foster a connection with readers that transcends the superficiality of digital impressions, creating a space where trust is cultivated and stories resonate with depth and meaning. It’s this profound bond between magazine and reader that advertisers seem to undervalue, to their own detriment and to the detriment of a public yearning for substance over shadows.
Magazines, with their legacy of quality and commitment to their audience, deserve a renaissance in the advertising world, one that acknowledges their enduring relevance and irreplaceable role in the tapestry of media.
I wish I could hold onto the hope that advertisers would recognize the enduring value of the magazine industry, yet it seems that realization has drifted away, much like a vessel disappearing over the horizon.
In the spirit of Gordon Gekko’s infamous declaration that “greed is good,” it wouldn’t be far-fetched to imagine him dismissing the reputable magazine sector with a cavalier “to heck with it”—though, admittedly, there’s no record of such a statement. The relentless pursuit of profit often overshadows the trusted relationships and quality content that magazines have provided for decades. Despite this, the tactile allure and curated insights of printed publications continue to hold a special place in the hearts of many, serving as a testament to their lasting relevance in our increasingly digital world.
Greed, for lack of a better word, is good. Greed is right. Greed works. Greed clarifies and cuts through to the essence of the evolutionary spirit.
Michael Douglas (Gordon Gekko)
Bo Sacks
President, Precision Media Group
This commentary originally appeared on Bo Sacks daily newsletter and is re-published with kind permission. You can subscribe to Bo’s e-newsletter here.
