From my research into the UK magazine industry, I have learnt about the outlook for magazines in 2023, the evolution of the UK consumer magazine industry, how big the UK media magazine media market is and the biggest publishers and changing marketing share.
Publishing is actually expected to continue growing by between 1% and 0.5% per year until 2026 around the world. The popularity of magazines has continued due to smartphones and tablet devices as well as becoming more popular due to the increased availability of high-speed broadband, streaming, and downloading online content. Because of this there have been improvements with the content being created within digital formats in order to reach a wider audience. There has also been a positive impact that has been made because of the increase in interactive advertisements in print magazines.
Readers have more availability to interact and relate with the advertisement and content that they find in magazines because of the innovative ways that have been found by magazine publishers, including using campaign-specific links and interactive printed advertisements which has helped them to get more attention and has allowed their brand to become more well-known by people. Some brands have also come up with a new idea to create a new app that has allowed it to be easier and better for subscribers. The improvement of automated programmatic advertisement has allowed the adoption of magazines to increase.
Magazines have started being launched by companies so they can market products and services to their audience, especially in Europe, which has included the automotive and consumer good sectors. Other magazines who have European publishers have started improving in order to make sure that they are helping their customer loyalty and help them to bring in new customers as well. There is a clear audience that is targeted because of how good and creative the content is as well as how high the quality of the reproduction is.
For the future there is an expectation of increase in demand for creative and interactive print advertising because of the diversity that magazines bring as they focus on education, entertainment, information and what the customers need, either if it is private or business.
Still to this day print is very significant with the way it advertises for many people however has started to decline throughout the long-term period. There have been some views about magazines and the fact that they are not exactly as important or as used as they once were, which is because now it is more common for people to look at brands by using websites or social media rather than the actual physical thing. Magazines have had to deal with huge impactful falls in print advertising revenue, and once the pandemic happened the fall had started decreasing even faster than before. The most impacted magazines in the past 5 years have been men’s magazines and music magazines.
76% of adults have been reached by magazine media in the UK each month. The top magazine advertisers are Sainsbury’s, Johnson & Johnson, Apple, Chanel and VictoriaPlum. Each month magazines are read through a digital format by around 63% of adults and is still growing steadily. 72% of people who read magazines think that it is time well spent, as well as 91% of people who read magazines trust what the read.
The biggest magazine publishers in the UK have said that newspapers remain less diverse than the magazine industry. In 2010, 42% of all copies circulated were accounted for by Bauer, TI Media and the BBC. Some investors have bought out magazine publishers but some magazine publishings are actually family-owned.
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