The Publishers Information Bureau has released its third quarter advertising revenue numbers and it's not good: total magazine rate-card-reported ad revenue dropped 18.6 percent this quarter compared to the same period last year. Ad pages dropped 26.6 percent.

Only one category out of the 12 top magazine ad categories -- food and food products -- grew during the third quarter of this year. That category saw 10 percent growth in revenue and a 3.9 increase in ad pages, "with sizeable upticks in ads for prepared foods, beverages and snacks, as well as ingredients and seasonings," PIB said.

And while the other categories saw significant declines -- with the biggest drops coming from the automotive and financial categories -- some subcategories like hygiene and hair care products, cleansers, polishes and building equipment saw growth.

If there is a takeaway from these numbers it's that the packaged goods market is still doing okay despite the economy, because people will always need to buy certain items no matter their financial state. But with ad revenue and pages dropping, it's clear that this one area of ads can't support the whole industry.

(Chart via PIB)