Week one
During week one we explored a variety of magazines and looked at bringing the history of the market up to date, whilst exploring the many sectors which produce a magazine today. We also looked at the importance of demographics and the factors for success in the industry.
“Magazines are the most successful media format ever to have existed.” (Holmes, T. 2012)
Magazine market worth in the UK
In recent years, some magazines have seen a steady decline, with a decreasing audience and a gradual fall in revenue. This creates the illusion of an overall decline in the industry. However, magazine publishers and producers are constantly searching for innovative ways to encourage interaction and engage their audiences; in the hope of keeping up readership levels.
The online market is rising, therefore, there is an expected further decline for print. The industry stats and market size (May, 2018) is as follows:
• Revenue £4bn
• Employment 32,677
• Businesses 2,506
• Annual growth -6.0%
2014 was a major breakdown for a lot of magazines.
All five titles in the paid-for music magazine sector, including Q, Kerrang! and Mojo, reported double digit sales losses in circulation the first half of 2014.
“There is a two-tier market in consumer magazines where there are very clear winners and losers,”said McCabe “There tends to be a few stable titles, like, say a Vogue, but further down each sector there are those feeling the pressure because the market is oversupplied.”
Top 3 mags in the UK by circulation figures:
1. The National Trust Magazine – with a circulation of 2.3 million plus, it helps readers get more from their visits places within the National Trust by offering behind the scenes stories and impressive photography
2. Slimming World – only published 7 times a year; the UK’s best selling title in the health and diet sector, with a print circulation of 640,000
3. Radio Times – “Britain’s best selling women’s magazine” – published weekly with a circulation of 515,000
Top performers in the magazine industry include:
• Garden Answers: up 41 per cent to 27,957
• Times Literary Supplement: up 27.6 per cent year to 32,166
• The Spectator: up 15.2 per cent to 82,585
• Good Housekeeping: up 11 per cent to 454,697
• New Statesman: up 5.3 per cent to 34,025
• London Review of Books: up 4.4 per cent to 70,468
• Country Living: up 12.5 per cent to 188,915.
The biggest fallers include:
• Glamour: down 25.6 per cent to 260,422
• Look: down 22.2 per cent to 90,315
• Star: down 17.6 per cent to 122,630
• Heat: down 16.5 per cent to 136,470
• Empire: down 15.3 per cent to 123,004
• Hello!: down 15.5 per cent to 225,986
• Now: down 17.3 per cent to 104,937.
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