Is there a print magazine advertising correction coming?

Blogger Dan McCarthy (ViralHousingFix) raises an interesting question about the disconnect between print advertising pricing and the expectations of advertisers. Yes, it can be proven that viewers only register 37% of internet ads and, yes, so-called "old media" are better value in terms of engagement and impact. But...

We’re in the middle of the biggest economic disruption in generations. Marketers don’t have the money…not even close…to fund their marketing programs. The high cost items go: high impact advertising in TV and magazines are at the head of the line.

Is it short-sighted? You can make that argument. But the business doesn’t think it has any choice.

The key is that these marketers are still going to get a flow of business activity from all their other digital channels. Not just internet advertising, but their web sites, their digital distribution networks, their own social media activity. They’ll look at this activity and begin to work on making it larger and more efficient.

It does not do away with the need for high-impact, broad-reach advertising. It just decreases the value of that advertising on the margin to the marketer.

Does this mean that there is a sustained price correction that will take place in traditional media, as it settles into a stable position in a multi-platform marketing strategy? I think that might be the case. That puts the onus on all of us who are in the media business to find ways to align our costs with a different value proposition, and to use our core skills in marketing, content creation, community development and customer service to build more value for marketers.