Business Magazines Most in Need of Innovation: AAF Media Investment Survey 2007

Nearly three-quarters of respondents reserve up to 20% of media investment budget for experimentation on increasing confidence in navigating the new media ecosystem in 2007, according to American Advertising Federation (AAF) Media Investment Survey 2007

52% say… “I am more likely to anticipate, prepare for, and get out in front of changes in the media landscape in 2007.” 

The survey revealed that Newspapers (51.4%), network television (34.5%) and radio (33.8%) were ranked the top three media categories other than magazines most in need of a novel approach if they are to remain competitive.. 

Within the magazine category, business magazines (at 46%) are most in need of a unique approach to shake things up. Women's Service (25%), Fashion and Beauty (18.8%), Men's (17%) and Shelter (12.5%) rounded out the top five.

Highlights: 

  • 87.4% of of respondents believe that the pace and scope of innovation in the media landscape inspires creativity.
  • 73% of respondents said that one to 20% of their budget is reserved for experimentation and new media properties.
  • 12.37% of respondents list 21 to 40% of their budget as reserved for experimentation in new media. 
  • On average, respondents will devote 15% of their overall media spending to innovation.

In 2006, the most expected innovations in the media landscape were:

  1. the availability of TV programs on the Internet, 
  2. the mass adoption of text messaging in the United States, 
  3. the importance of social media/networking as part of the communications plan.
 

In 2006, the most surprising innovations in the media landscape:

  1. the rush to Second Life virtual community space, 
  2. the rise of YouTube and 
  3. the popularization of mash-ups or Web applications that have more than one source.
 

When asked about approaches to media planning in the coming year, respondents ranked:

  • 78%: "I am always open to new ways to use traditional media" , with 
  • 75.5%: "the right media mix almost always includes a balance of traditional and nontraditional media" 
  • 57.7%: "the search for new media properties to grow my brand never stops" 

The AAF Media Investment Survey 2007 surveyed close to 1,000 advertising industry leaders, spread across agency (38%), media (26.9%), advertiser/client (13.6%) and other (21.4%, composed mostly of suppliers and academics) sectors, with the majority being at the director (19 percent), owner (18 percent) or manager (17.6 percent) level. Nearly 31 percent of participants are part of a team that makes the final media investment decision for their company. A full summary of the AAF Media Investment Survey 2007 results in PowerPoint can be found here.

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