The magazine industry is back on the upswing as advertising revenue grew for the first time in three years in 2010, thanks to automakers.
Advertising revenue at consumer magazines rose 3 percent in 2010 to about $20 billion, according to data from rate cards compiled by the Publishers Information Bureau.
People magazine, published by Time Warner Inc.'s Time Inc unit, pulled in the most ad revenue in 2010 at $1 billion. Ad revenue at the Food Network magazine, a joint venture between Hearst and the Food Network, grew the most — 174 percent in 2010 compared to the prior year.
During the 2010 fourth quarter, magazine ad revenue climbed 4 percent.
The revenue growth shows that magazines, battered by advertising declines that followed an economic downturn, are recovering like other media such as broadcast television.
Newspapers, however, are still struggling for positive ad revenue increases.
The automotive category, which is driving a rebound in local broadcast TV revenue, generated the biggest percentage increase in magazine revenue at 21 percent.
During the past year, several magazine executives shuffled offices. For instance, Time Inc. tapped Meredith Corp's Jack Griffin as its chief executive, replacing Ann Moore. Conde Nast veteran David Carey jumped to Hearst magazines, replacing Cathleen Black as CEO.
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