Spending has increased 200% since Ellen came out
The 13th annual Gay Press report is out, and the findings are, uh, super. Ad spending in gay and lesbian media is growing three times faster than mainstream media, according to the report produced by advertising agency Prime Access Inc. and gay media rep firm Rivendell.
Since 1996 — a “a watershed year” that saw Ellen DeGeneres come out on prime time television and on the cover of Time magazine — ad revenues for all consumer magazines increased by only 47% (a compound annual growth rate of 4%) versus 205% (11.8%) for gay media.
“The numbers make it clear that corporate America recognizes and values both the spending power and influence of gay consumers,” says Howard Buford, founder of Prime Access. According to the report, gay and lesbian consumers have more discretionary time than their straight counterparts, making them attractive to Fortune 500 companies.
Biggest ad category? Real estate.