How advertising expenditure corresponds to media consumption

An old advertising adage says that "money follows the eyes", meaning that advertising spend follows where consumers direct their attention or spend their time. If this were true, advertising revenue broken down by media should roughly match the average amount of time people spend with different media. But is this really the case?
If one compares the Interactive Advertising Bureau (IAB) published figures on advertising revenues in the USA with the estimates of eMarketer The following chart shows that the two indicators do indeed correlate. In 2017, US consumers spent most of their time watching TV and using mobile devices, which is where the majority of advertising revenue went. However, there is one notable exception to the rule: print media, which receives more advertising dollars than it should, considering how much (or little) time people spend reading newspapers and magazines.
Does this mean that print media publishers have to fear a further decline in advertising revenues? Not necessarily. Although people no longer spend as much time reading as they used to, print advertising is still one of the most trustworthy and therefore most effective forms of advertising. Forms of advertisingwhich is why brands continue to allocate a seemingly disproportionate share of their advertising budgets to print media.
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