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Ad growth rate
for LGBT press three times that of mainstream press

Ad growth rate
for LGBT press three times that of mainstream press

According to the 2006 edition of the "Gay Press Report," ad spending in the LGBT press has grown to almost three times the rate of consumer magazines over the last decade. The report found that ad spending in LGBT publications reached a record high of $223.3 million in 2006. That represents an increase of 5.2% over 2005 and an increase of 205% since 1996. During the same 10-year period, ad revenues for all other consumer magazines increased only by 47%, which translates to a compound yearly growth of 4% for consumer magazines, while LGBT publications saw a yearly growth rate of 11.8%. "This year's report confirms how, in just one decade, gay and lesbian consumers have gone from an overlooked niche to an audience that Fortune 500 companies are working overtime to reach," said Howard Buford, founder and president of advertising agency Prime Access. "The numbers make it clear that corporate America recognizes and values both the spending power and influence of gay consumers." As of current findings, 183 of Fortune 500 companies have a strong hold in the LGBT market, with the most popular categories being travel, financial services, automotive, fashion, and entertainment. "Over the past 10 years the gay market has become one of the most coveted demographics in the advertising industry," said Todd Evans, president and CEO of gay media representative firm Rivendell Media. "Gay and lesbian consumers have more discretionary time than their straight counterparts, and Fortune 500 companies and local businesses alike are committing more and more advertising dollars to reach them. Higher brand loyalty and less advertising clutter also make the GLBT market quite attractive." The report is produced annually by Prime Access and Rivendell Media. It is meant to provide a historical perspective on the LGBT market. (The Advocate)

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