Looking ahead, the increased popularity of the Internet will compete for share of consumers' time, impacting some magazine categories over the next five years. Magazine publishers, however, have traditionally been very responsive to consumers' interests and continue to demonstrate this market connection. This publishing creativity and broader product offerings will be the key drivers for continued growth in consumer magazine advertising revenues.

Although down from the number of new titles in recent years, the number of new titles and brand extensions introduced will continue to represent substantial enterprise by publishers - large and small. As some traditional magazine categories begin to lose steam, new categories are introduced. And categories presumed to be in jeopardy with the growth of the Internet have revitalized themselves, as the growth in young men's, teen and Internet titles read by "the technology generation" will attest. Overall, with this responsiveness and flexibility, the magazine market is
very resilient

To learn more about Veronis Suhler's financial advisory services, contact:

Lawrence M. Crutcher,
Managing Director

Andrew J. Buchholtz,
Managing Director