NEA Task 3 : Research into the UK Magazine Industry

Link 1: https://www.pulsemagazine.co.uk/blogs-articles/the-outlook-for-magazines-in-2023/

Across the world, magazine publishing is predicted to grow continuously, around 1% per year up until 2026. This is due to the increase in technology and devices such as smart phones and tablets, causing people of all ages to have access to them. This is through high-speed broadband, streaming and downloading online content, becoming more popular by the day. Publishers are increasing their amount of digital content to therefore improve customer engagement but also reach a wider audience.

Innovation: magazine publishers have found innovative ways that allow readers to relate and interact with content and advertising. Such as attracting them to websites by using interactive advertisements which catch their attention and increases their brand awareness. Ways that offer more content and opportunities such as competitions and podcasts.

 Link 2:  https://pressgazette.co.uk/publishers/magazines/uk-consumer-magazine-industry-charts/

Magazines have been upended in recent years due to the evolution of the media, such as Instagram, being a visual platform, it causes competition for men’s magazines. Unlike magazines that cover news and current affairs have remained strong. Paper copies are on the decline due to the advancement of online copies and subscriptions, not being able to cover the cost of the drop in sales.

The executive of Conde Nast, Roger Lynch, states that the business “no longer a magazine company” due to this shift to online platforms.

This has also caused a sharp fall in the print advertisement revenue, the pandemic also having an impact, causing it to fall by 30% from 2019 to 2020, and to this day unable to recover.

 Link 3: https://magnetic.media/research/market-overview/market-overview-insight

Facts and figures about magazines:

Almost £560.4 million has been spent on ads in 2022.

Two thirds of UK adults (63%) read magazines digitally, and thi9s figure is steadily increasing.

2 in 3 people love it when advertising is related to their passion.

91% of readers believe that what they are reading is true information and reliable.

Link 4:  https://pressgazette.co.uk/news/biggest-magazine-publishers-uk-2021/

Compared to newspapers, magazines are highly diverse in ownership. The leading companies are Bauer Media, Immediate Media Company and Future Plc and it is estimated that 37% of circulation in 2020 is responsible by them.