|Ad page volumes for magazines saw a 4 per cent drop in the 12 months to December as a result of continued woes in the retail sector, according to Nielsen.
Nielsen data released this week showed total ad page volumes for the top four publishers - ACP Magazines, Pacific Magazines, Fairfax Magazines and NewsLifeMedia - fell 4 per cent in 2011 to 54,249 pages.
MediaCom head of IP&I Melbourne Nick Keenan said: "I think there's a big overreaction to the future of magazines. Magazines are a very good channel with a future.
"They are, however, going through a tough time at the moment which is highly linked to the changing structure of the media in general and also the fact we are in a post-GFC world in which we haven't yet emerged. In this environment, retailers are in all sorts of trouble and magazines take so much retail and FMCG money."
Out of the top four publishers, Pacific Magazines was the most robust with ad pages falling only 2 per cent year-on-year to a total of 14,899 pages last year.
ACP Magazines ad pages fell 4 per cent to 28,071 pages and NewsLifeMedia fell 5 per cent to 9,952 pages.
Fairfax Magazines had a 31 per cent decline to 1,327, but it must be taken into account that most Fairfax titles included in the data are newspaper inserted magazines.
In line with the general downward trend of ad pages, NewsLifeMedia closed two titles last year, turning the final pages on Notebook and Ralph. While ACP will launch Women's Fitness in September, it last week closed FHM magazine and had delayed the Australian launch of Elle magazine due to a weak retail market.