Research into UK Magazine Industry

1960-2000 The magazine industry was in its golden years. Advertising was good and the circulation levels were high. An ad-centric publishing philosophy prevailed and most magazine companies were extremely gainful.
2006 – Social media became a threat. The rise in technology, mostly the internet began to kill sales of printed magazines. However the expansions of Google and Facebook became another way to attract new readers.
2007 – The creation of the iPhone and iPads means magazines could be read through devices. This new piece of technology became popular for audiences. They were both a threat and a help for the publishers.
2008 – Financial Crash – Ad revenue and circulation declined even further to a new low. Circulation declined by 20% in the U.S from 2000 to 2010.
The Big got bigger – The bigger companies bought the smaller companies. In the U.S, the four main largest magazine publishers were: Time Inc., Meredith, Hearst and Conde-nast. Altogether they own nearly 50% of the U.S magazine market. The smaller the market the less likely it will survive.
The move to female oriented magazines and away from the male ones – Newsstand sales were down but the sales at supermarket check-outs had risen and this was linked to the rise in female magazines. Men are more likely to use online media for their news, information and entertainment.
2009 – Shift to consumer orientation- There has been a move from ad-centric publishing to consumer centric publishing. Now magazines must deliver their content over multiple platforms and compete with the internet for advertising and consumer attention. This involves reinventing the industry.
The consumer magazine industry is smaller than it used to be and it’s getting more and more difficult to survive, especially for the smaller publishers.
A magazine can survive by doing the following:
- Investing in digital initiatives
- Keep the company as lean and as efficient as possible
- Recruit staff with new media and database skills
- Analyse the audience to understand exactly what they want
- Develop Apps to deliver digital content and services.