Yep, this is almost certainly part of it; but I'm not sure technological determinism tells the entire story. Consider that in the latter half of the 19th century, for instance, the American magazine market was driven by titles that used new technologies like daguerrotypy and then photography to present big, striking images -- titles like the National Police Gazette (https://en.wikipedia.org/wiki/National_Police_Gazette), Frank Leslie's Illustrated Newspaper (https://en.wikipedia.org/wiki/Frank_Leslie's_Illustrated_New...), and Godey's Lady's Book (https://en.wikipedia.org/wiki/Godey%27s_Lady%27s_Book).

The advertising and poster art of the same period, though, is much more text-oriented. Look at Wikimedia's collections of ads from the 1870s (https://commons.wikimedia.org/wiki/Category:1870_advertiseme...) and 1880s (https://commons.wikimedia.org/wiki/Category:1880s_advertisem...) and you'll see what I mean -- though if you go through them chronologically you can also see them getting simpler and more streamlined as time goes on, so it was definitely a field in transition.

I wonder how much of the lag is just because of the way advertising as a business works. No ad, after all, gets run unless it first gets approved by a client; and the clients are usually more conservative and risk-averse than their ad-makers are. So advertising's slowness in following the culture could just come down to the fact that a campaign has to appeal to the sensibilities of stodgy old business dudes if the public is ever going to see it at all.