Your daily newspaper isn't the only one getting its ass kicked by dipping ad sales and shrinking circulation.  The major music magazines are seeing big percentage drops in ad spending, in particular, in the automotive industry. Rolling Stone has seen a thirty-three percent drop, accordng to Crain's New York Business, and Blender and Vibe are in similar situations. However, Spin is bucking the trend with a healthy spike in growth in the first quarter.

Here's a breakdown for ad revenue and pages for first-quarter 2008:

Blender $11 million (down nine percent from first quarter 2007); 110 pages (down twenty percent)
Rolling Stone $31 million (down twenty-seven percent); 195 (down thirty-three percent)
Spin $8 million (up twenty-seven percent from 2007); 146 (up twenty-two percent)
Vibe $18 million (down nineteen percent from 2007); 185 (down twenty two percent)

Despite the pretty dramatic drops, the mags' publishers remain confident, and they don't fear the Internet, despites its undeniable draw to music listeners looking not only for downloads, but instant news and criticism as well.  “They need a credible guide,” says Rolling Stone publisher Ben Madden. “Nothing online can be that guide.” That's a pretty bold statement. Off the top of my head, five or six websites  instantly spring to mind in terms of well-established credibility.

And when it comes to credibility, should RS really be throwing stones? Let us not forget the Camel "Indie Rock Universe" advertorial from last fall. The gaffe is so embarrassing that R.J. Reynolds has pulled all of its U.S. advertising. (We know what you're thinking, R.J., thank God smoking is still huge in Asia). Crain's says this move was in response to the criticism and indie band's lawsuits over the editorial-style ads. [Crain's via The Daily Swarm]