Overview of the Magazine Industry

Overview of the Magazine Industry

The magazine industry is a huge part of everyday life for most people. It as a whole has accounted for an estimated twenty-three thousand jobs in the UK, there is almost an even percentage of males and females working for the magazine industry. It offers a wide range of jobs throughout the industry and if the industry reclined the results would be devastating.

The gross value added by UK publishing in 2014 was estimated to be £9.94billion (which has risen from £8.97billion in 2008).

In 2013 just the publishing exported services were worth £1.3billion up from £806 on 2009.

The UK is the leading publisher of magazine titles, it is the most developed in the world and it is worth £1 billion each year.

The magazine industry is also surprisingly very popular overseas, forty percent of the revenue for the UK’s magazine industry is generated by export sales and millions of copies of magazines from various companies have been translated for oversea consumers.

Newsstands are an important part to consider about the magazine industry because even though they sell only a few single copies of magazines they are still responsible for seven percent of the magazine industry's revenue.

Another major part of the magazine industry for both consumers and producers are subscriptions because this provides convenience for the producers and consumers.

In recent years the magazine is becoming more digital, this is very convenient for consumers but this is also causing a small decline in sales for some companies because more people are using digital copies and not needing to buy physical copies. There is also more internet traffic for websites hosting these magazines, specifically from mobile devices.

In the industry overall the broader consumer magazine industry experienced another difficult year in 2014. Magazine circulation fell for the seventh year in a row. Things were partially bad for newsstand sales, which fell by fourteen percent, the biggest decline since 2008.