Chasing the Pink Dollar

Ad revenue at gay and lesbian publications continues to grow faster than in the mainstream press -- expanding at almost three times the mainstream rate over the last decade -- according to a new report.

Total ad spending in gay- and lesbian-oriented publications hit a record $ 223.3 million last year, up 5.2% from 2005 and better than triple the 1996 figure, according to the Gay Press Report, an annual survey produced by ad agency Prime Access Inc. and gay media representative firm Rivendell Media.

Over the past 10 years, ad revenue for all consumer magazines grew at a compound annual rate of 4% versus an 11.8% pace for gay-targeted media.

"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, president of Prime Access, in a release accompanying the report.

"The numbers make it clear that corporate America recognizes and values both the spending power and influence of gay consumers."

More than 180 Fortune 500 brands bought into gay media last year, up from just 19 in 1994, with popular categories including travel, financial services, automotive, fashion and entertainment.

Circulation is also doing far better than the rest of the publishing industry, rising 10.4% last year, according to the study's findings.

By William Spain