Newspapers and magazines attract 19 percent of total advertising spending, Mary Meeker says in her annual Internet trends report. But consumers, she says, spend only 5 percent of their time reading them.
Time spent with print media has declined, by Meeker’s charts. In 2012 she said it earned 7 percent of consumers’ time, and 25 percent of ad spending. (Jeff Sonderman called that year’s slide “The one chart that should scare the hell out of print media.”)
Meeker took some heat last year for floating a bogus fact about smartphone usage. But Poynter’s Rick Edwards wrote in 2010 that “I like Meeker’s broad term of measurement” for ad spending vs. time spent.
Meeker’s big picture measure seems to me to suffer from one critical oversimplification: the notion that advertising is more or less equally effective by platform. Give digital its due with the obviously potent search ad format, but display advertising is a different story entirely. …
My hunch is that it will take more like a decade than a year or two for Internet marketers to draw even in effectiveness — and thus in price — as measured by cost per thousand impressions. But time is emphatically on their side.