Which yearbooks are you referring to? I'd be curious to make some comparisons for our own records.
To let you know there was a 30/70 ad/edit ratio in the magazine. Industry standard for other mags averages at about 50% ads, but for some can reach as high as 60%.
In order to reach the high quality of print and paper we went for, we needed to raise enough revenue - and without making the sticker price obnoxious, advertising supports this. We did everything we could to select the companies that were allowed to be in the first issue, and as Jason said we put a limit on the amount of ads we're ever going to sell in it. We won't break that ratio, as its important to keep the flow really premium.
Ideally we can get it lower in the future - I'd like to see no more than 25% ads, but that somewhat depends on how much companies believe in the project, and how much we want the sticker price to be for those just picking it up.
Revenue and advertising is always a balance. We do our best to not go too far, but I do understand that sometimes ads are frustrating. In the second year of this project we're going to have a very tight relationship with advertisers, and really ensure that there is only top quality advertising to go with the top quality content in the mag.
Curious - who gave it to you, and do you know how they got it?