In a passionate op-ed, publishing analyst and Magazine Innovation Center director Bo Sachs asks why so many advertisers are abandoning trusted media to dive deep into uncharted digital territory. Here goes, Bo…
In the century-old complex relationship between media and advertising, a puzzling trend has persisted for over a decade that baffles even the most seasoned magazine industry professionals.
Advertisers are increasingly abandoning the safety of the time-honoured and respected realm of magazine publishing – a proven bastion of reliability, stability and dependability – in the midst of ongoing, potentially disorienting change. It’s trust in the risky and opaque world of digital advertising.
Despite billions of dollars being sucked into the greedy maw of online fraud, brands seem strangely unfazed in charting their course in this murky territory. This is not just a matter of navigation, they seem to be deliberately choosing a path lined with questionable rewards. The shift is a mystery wrapped in a mystery, with the only apparent motive being insatiable, incurable greed. The underbelly of the internet is awash with money siphoned off by fraud and crime, and it is this dark world that seems to be the temptation that continues to keep advertisers away from the light.
The situation presents a stark dichotomy: Advertisers are either completely unaware of the deceptive practices rampant in digital advertising, or, more troubling and plausible, they are aware but hesitant to return to the tried-and-true sanctuary of magazines. At a time when consumer trust has never been more precious, magazines shine as exemplars of journalistic integrity, contrasting with the questionable tactics that taint digital ad spend.
Here’s a riddle: consumers trust print ads more than digital ads. A study by Conquest Graphics found that people trust print ads the most when making purchasing decisions, compared to only 42% who trust online ads.
Ignoring the values of a magazine, a fundamental pillar of journalistic ethics, is not a minor error. It is a serious and regrettable blunder.
Magazines offer a rare level of authentic engagement with readers, which is especially valuable in an age of ephemeral and deceptive online content. Magazines foster a connection with readers that goes beyond the superficiality of a digital impression, creating a space where trust can develop and stories can resonate with depth and meaning. Advertisers appear to undervalue this deep connection between magazines and their readers, to their own detriment and the public’s desire for substance over shadows.
With their tradition of quality and dedication to their readers, magazines deserve a renaissance in the advertising industry, a renaissance that recognizes their enduring importance and irreplaceable role in the media fabric.
I’d like to hold out hope that advertisers would recognize the enduring value of the magazine industry, but that recognition seems to have vanished like a ship disappearing over the horizon.
In the spirit of Gordon Gekko’s infamous “greed is good” remark, it’s not too far-fetched to imagine him casually dismissing the reputable magazine industry as “fuck you,” though we acknowledge there is 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. Nevertheless, print’s tactile appeal and curated insights continue to hold a special place in many people’s hearts, a testament to print’s enduring importance in an increasingly digital world.
Greed is, for lack of a better word, a good thing. Greed is right. Greed works. Greed reveals and penetrates the essence of the evolutionary spirit.
Michael Douglas (Gordon Gekko)
Bo Sachs
President of Precision Media Group
This commentary originally appeared in Bo Sachs’ daily newsletter and is republished with permission. You can subscribe to Bo’s e-newsletter here..
