In 2009 when all advertising was down, it looked like food would be untouchable. While some industries dropped 41, 30 percent, food dropped by only 5.
That’s not the case today.
In fact, in 2011 food advertising was down 17%, where things like financial, insurance and real estate went up 13 percent, accessories went up 6 percent and cosmetics was up 4 percent.
Pretty much every food magazine took a hit in 2011: Everyday Food and Every Day with Rachael Ray each dropped 21 percent; Cooking Light was down 14 percent; Saveur, 7 percent; Bon Appétit, 5 percent, and Food & Wine, 3 percent. Food Network Magazine, one of the few bright spots, had a 12 percent gain.
Here’s what’s going on, and potentially why:
“Bon Appétit is to Vanity Fair what Food Network Magazine is to People Magazine. They’re the People, we’re the Vanity Fair or the Vogue. We reach a very specific affluent consumer and our edit is specifically about the sexiness of food and culture. Food Network, just like People, is reaching the masses and it’s reaching the everyday person. That’s why we’re both doing so well when everyone else is in this diluted state. Everyone is fighting for this same kind of business, and there’s just a much smaller pie of that food business to go around.”
Hmm, we can definitely see that. There isn’t much room for a lot when you’ve got both ends of the spectrum covered.
We’re just wondering what the huge correlation between food and the economy is — were more people interested in food when things were bad, and not so much anymore? Or is the food advertising industry always fluctuating, no matter the economical times?
We’d like to hear more about this, for sure!
[Image via AP Images.]
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