Magazines have had a steep decline over the last 20 years. This has decreased the number of consumers buying magazines, resulting in the discontinuation of many titles due to lack of advertising revenue.
According to the Audited Bureau of Circulation (ABC) in the year 2000 there were 700 titles reporting to them declining to 241 in 2021. This significantly affected circulation figures and sales or advertising revenue- 1.6 Billion magazines circulated with a total of £1.4 Billion spent in 2000, down to 565 million circulated magazines, totalling only £669 in sales.
The demand for magazines may have also decreased due to the rise of technology and the surge of social media like Instagram with its visual based content- similar to the medium of magazines. In addition, The pandemic caused people to stay inside, meaning less people were able to buy magazines from their sellers. This would have accelerated the online medium of magazine-like content, reaching a wider audience at no cost, still earning the businesses advertising revenue. during the COVID period, print magazines' ad revenue fell by 33%.
Unlike newspapers, most print magazine sales models are not focused on subscriptions. Without a subscription, a company will receive less profit as people do not regularly buy the magazines.
Future magazine is a publication that is mostly digital and targets an audience that are willing to spend more money on their hobbies, such as tech and sports enjoyers.
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