The magazine industry

The magazine industry

Demand for magazines is driven largely by growth in consumer income. The profitability of individual companies depends highly on marketing expertise. Small companies can compete by specializing in niche topics and markets, while larger companies benefit from a wide selection of magazine titles to offer advertisers. People in the UK are continuing to buy fewer magazines, with circulations in the market place dropping by than more than 15 million copies in 2014. TV Choice remains the UK’s biggest-selling magazine in the UK, despite its average weekly sale falling by 7.9% year on year in the second half of 2014.                                                                                                 Less and less people are buying printed magazines because it's a lot easier to purchase them electronically: it saves time and energy. Also, young people nowadays are using hand held devices to read and so as this becomes more popular, digital versions of magazines will rise. Monthly title, BBC History, has recorded an astonishing 693% rise in digital circulation. Vogue, has seen theirs jump up by just over 463%. This is to suit the needs of the public and their preferred method of purchase.                                                                        In 2010, the weekly proportion spent on printed magazines in the average UK household was 0.57%. This dropped to 0.46% in 2013. In 2010, 0.49% of the average UK household's weekly magazine spending went towards internet subscriptions. By 2013, this went up to 0.54%. These figures show that less people are buying print magazines and purchasing the online versions instead. As technology develops, so does the audiences preferences in which they buy their magazines. It's more likely that if the magazines target audience is young adults, they will sell more of their copies online because nowadays, the younger readers typically use the internet more.        The cost of putting an advert in a magazine depends on the size, frequency, regional rates, colour and positioning. Adverts are more expensive to put in magazines if they're large, colourful, in more than one issue and a popular magazine. Although this may be a risk advertisers are prepared to make because the more the advert stands out, the more people will see it and go and buy the product.