• by Sara Guaglione , June 12, 2017

Fashion brands like Gucci and Louis Vuitton are shifting luxury advertising from print magazines to digital.

Citing data from ad-buying firm Zenith Media, The Wall Street Journal reports luxury industry spending on magazine advertising declined to $2.6 billion from 2013 to 2016, an 8% drop.

But luxury industry spending on digital ads — ranging from online advertising to social media campaigns — has grown to more than $1 billion globally in the same three-year time period, a 63% increase.

A study from Juniper Research released last summer predicted overall digital advertising revenues are expected to double by 2020, rising to $285 billion.

This is sobering news for the magazine industry, which has long touted luxury brands as one of its most reliable sources of print advertising revenue, even after the shift to digital.

According to Business Insider, the Zenith data shows print still represents the majority of ad spend for high-end luxury brands.

The brands selling high-end watches, jewelry and fashion spent 73% of budgets on print ads in 2016 and that number is expected to remain relatively flat this year.

The digital revolution continues to draw advertising dollars online, but print remains in the game for now.