The UK magazine industry has altered a lot in recent years. The chief executive of Enders Analysis Douglas McCabe states "It's an industry that has literally changed its definition in the past 10 to 15 years". This is down to multiple factors which include; The recent Covid 19 pandemic, the introduction of online media and free titles. Due to these factors many larger and more successful members of the magazine industry no longer see themselves as that. Despite this, according to the biggest UK magazine publishers, magazines continue to remain more diverse than newspapers. Some of the leading publishers include; TI Media, Bauer and the BBC who in 2010 accounted for 42% of all copies circulated and are said to have control over around 80% of all print circulation.
Regardless of the huge impact digital editions and subscriptions have had, they aren't making up for the long-term decline and fall in sales of print. Instead, print revenues have rapidly decreased without online media compensating for the decline. In 2000, 1.6 billion magazines were circulated in the UK and in 2021 only 565 million, less than half, were in circulation. Not only this but magazines have also been hit hard by the drop in print advertising revenue, No1 advertisers in magazines include; Victoria plum, apple, Sainsubrys, Chanel and Johnson & Johnson. The pandemic played a factor in this, by sharply advancing the fall in revenue. An example of this is between 2019 and 2020 when the UK magazine industry experienced a drop in the revenue as it fell by 33% and is still yet to recover. Online platforms such as Google and Facebook are said to have now taken control of digital advertising spend. According to McCabe, these newer online resources such as Instagram, where consumers can replace the content that was once found in a magazine, are harder to tackle. Despite this, the magazine The Economist is a magazine valued the most by the public and with its traditional content is a magazine likely to remain.
Along with the fall in circulation of magazines a subsequent fall in the number of titles has led to many magazines closing down, with over 700 titles reported in 2000 to ABC, this then fell to 558 in 2010. Men's magazines and music magazines appear to have been affected the most, with Men's Magazines ABC falling by 89% from 32.3mil to 3.6mil between 2017 and 2021. Music Magazines fell by a detrimental 90% to 1.8mil. Nether the less women's magazines appear to still be relatively popular as in terms of circulation still have a large vertical.
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