The State of Magazine Publishing

Since the launch of the internet, print media has heard the bell toll for its future. If readers are used to getting content for free, at their fingertips, any time they want it, what would compel them to pay for a daily, weekly, or monthly print product that could be outdated by the time they read it?

As we examine this question through the lens of accessibility and sustainability, that only makes the future of print publications seem even bleaker because print products do not allow for a change in font sizes or alt-text for images the way digital content does nor are they often sustainably produced.

But, contrary to the claims every year that “print is dead,” print brands are actually growing. According to the Newspaper and Magazine Publishers Global Market Report, the newspaper and magazines market size was set to grow from $204.29 to $210.66 billion from 2023 to 2024 and up to $231.66 billion in 2028. This growth is attributed to a few key areas of business focus.

Diversification of Products

While print used to be king, we now live in a digital world, so the print publications that have survived and thrived are those that have expanded their content online as well. In an interview with New York Times’ Kara Swisher, Roger Lynch, CEO of Conde Nast, stated that they were “no longer a magazine company,” highlighting their move to create more digital content.

The industry is also seeing a consolidation of digital and print media companies, one feeding the other, and meeting readers where they are – with timely news, information as well as longer form journalism. For example, in 2019, Vox Media bought New York Magazine and its digital products which include The Cut, Vulture, The Strategist, Intelligencer, and Grub Street. Being able to provide their audience both expanded digital media as well as a classic print publication at a discounted price was enticing to the Vox Media group.

Rethinking the Audience

During the pandemic, readers who were eager to get off screens remembered how much they love print magazines, but their relationship to print has changed over the last 20 years.

Instead of being the sole source of news for many readers, many magazines have now become more of a luxury item according to this article on Bloomberg. With long-form journalism, high-end photography, and more, publications like Vanity Fair, Vogue, The New Yorker, Architectural Digest continue to see a steady audience of readers. And, these magazines are supported by advertisers as well as subscriptions. Online advertising can often feel invasive and perhaps less trustworthy to readers in a way that print advertising does not, so some companies are returning to print advertising when going after a high-end audience.

On the other end of the spectrum, there has also been a resurgence for publications with niche readerships or subjects who are finding success with their readers in print as well. The scale may be slightly smaller, but it is still vital.

Social Media Promotion

One of the key ways that digital helps print in the marketplace is through social media promotion. In this Pew Research Study published earlier this fall, 54% of adults in the US get at least some news from social media. The sharing and reposting of articles on social media is a vital way that people share news with each other. This use of social media can help lead to higher readership and sometimes even subscriptions for publications in an area and with an audience they might not have previously realized.

Unfortunately, that may be declining due to social media sites adjusting the algorithm to deprioritize news as we saw earlier this year.

Conclusion

So, while print isn’t dead, the magazine and newspaper industry is definitely a work-in-progress as they pivot to understanding a new audience, providing the content and format that readers want, and continuing to publish the highest quality products.

KnowledgeWorks Global Ltd. (KGL) is the industry leader in editorial, production, online hosting, and sustainable services for every stage of the content lifecycle. We provide the solutions and services magazine publishers need to navigate the rapidly-changing media landscape. Learn more at kwglobal.com/magazines or email us at info@kwglobal.com.