The figures – taken from the ad budgets Australia’s 13 largest media agencies booked with media companies between July and August – showed that with an eight per cent increase, newspaper revenue was also up the period last year, while non-print mediums including television, radio and online were also up, but only by five per cent.

The upswing in ad spend is very welcome news for magazine publishers, coming on the back of newly released figures that showed half year results ending in June confirmed print suffered significant losses in ad revenue, with magazine revenue dropping 22 per cent during the year and outdoor and newspapers both dropping seven per cent.

The SMI data indicated that the downturn in advertising budgets in the past 18 months has stopped and ad spending is showing signs of life, however some media executives say the numbers should be treated with caution as they only covered the revenue booked by 13 agencies.

Despite the recession online ads grew by 22 per cent during the year, and radio by five per cent. Magazine advertising spend in the half to June 2008 was $206.5m, meaning magazine advertising now ranks sixth in ad spend, behind TV, newspapers, online, radio and outdoor. In the corresponding period last year it was in third place.

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