ADVERTISERS AND THE PRESS
[To the Editor of the -SPECTATOR.] SIR, --Tour comment on the advertiser's reaction to large scale newspaper circulations is necessary and timely: There is no doubt that one of the causes of the present restricted expenditure on Press publicity is its reduced revenue earning, owing (a) to the high advertising rates now -operating ; and (b) to the reduced yield owing to artificially created circulations.
Finally: the -advertiser must Inettsnre -his expenditure by its proved results, and he is finding these steadily contracting with the Press that is creating a large percentage of fruitless circulation. The reason for this is that not only are the papers bought frequently not read, but the type of reader is not spending money on purchasing the con ttttt stifle; advertised,: but rather consists of people who are trying to obtain " sour thing for nothing by way of life insurances, presents, com- petition prizes, or the innumerable stimulants altered to induce the sale of the-medium.
Signs are not wanting that this ('(Instant stimulation has reached'saturation point, and there is, therefore, great scope forthe decently conducted periodical which relics on a genuine circulation, and refrains front constant unworthy appealS to
its readers• to push up sales. artificially. • It is, Of course, true that finally any enterprise conducted on unsound lines will break down in its inethodS, although sometimes it is a long time before this fact ii demonstrated. All the eVidenee available, however, points to the fact that a periodicitI,thai is dependent for its profits on artificially stimulated advertising revenue and false eirculation figures, has PaiSed 'the zenith of its financial prosperity.—I am,
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