The exponential growth in digital media has recently challenged the value of print media in the overall marketing mix. Across three studies, we evaluated the relative effectiveness of print ads versus digital ads. In Study 1, using eye-tracking and biometric measures during exposure, we found stronger encoding and engagement for print ads over digital ads. A week later, participants showed no significant difference in recognizing ads across format, though print ads showed better memory for the encoding context. Notably, using fMRI, we found greater activation in hippocampus and parahippocampal regions for print ads relative to digital ads. Extending these insights, Study 2 demonstrated better memory for print ads across contents, context, and brand associations when using snippets as retrieval cues. In addition to establishing the robustness of earlier findings, Study 3 provided further evidence that the observed memory advantage for print ads is primarily due to superior encoding during initial exposure. From a practical perspective, these findings suggest that marketers should not discount the value of print media in advertising, despite the rapid growth of digital media and communications.