Why are Ad Rates still that high for Print Media?

chart-of-the-day-ad-rates

You cannot measure the real views,
You cannot measure or track the response from the viewer,
You cannot make it interactive,
You cannot personalize to a profile, not even to a microsegment,
You cannot do remarketing,
Yet… you, marketers, still pay more for Print Media Ads. Far more.*
Why?

The reason men oppose progress is not that they hate progress, but that they love inertia.
Elbert Hubbard (1856-1915)

Nowadays, would Wanamaker allow not to know which half of his ad money is wasted?**

* According to the chart from Business Insider the Cost-per-mille (CPM) of Newspaper ads is around 10 times the CPM of Desktop/iPad ads —and about 50 times the mobile CPM.
** “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”
John Wanamaker (1838-1922)

*** You can write the exact post for traditional TV ad rates Vs. Online Video ad rates.
Can any marketer explain why the insistence of making Wanamaker’s quote remain true 100 years after it was made?

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