Magazine publishing market to reach $2.71 billion by 2026, report
The magazine publishing market size is expected to grow by $2.71 billion from 2021 to 2026 according to a report by Technavio.
However, the growth momentum is likely to decelerate at a compound annual growth rate ,CAGR, of 0.51% during the forecast period. The adoption of magazines as a focused advertising platform is one of the key magazine publishing market trends contributing to market growth.
With the growing prominence of digital advertising, advertisers are using native advertising in digital magazines. Native advertisements match the function, look, and feel of the media format in which they appear.
These types of advertisements are often found in the recommended content section on the web page of a digital magazine. One of the primary benefits of such advertisements is that they do not really look like advertisements. Instead, they look like a part of the editorial flow of the page. Moreover, native advertising increases the likelihood of advertisements being noticed.
Thus, as magazines enable a better advertising platform for advertisement service providers, the demand for magazine publishing is expected to rise during the forecast period.
The increase in the use of smartphones and tablets, availability of a wide range of magazines & high public impact of printed magazines are the factors propelling the market growth.
The factors such as increasing competition among magazine publishers, integration issues associated with digital magazine publishing & decline in demand for consumer magazines will hamper the market growth.
The magazine publishing market share growth by the print segment will be significant for revenue generation. Print magazines are published periodically, and readers need timely access to magazines to stay updated. Thus, the timely delivery of magazines becomes highly relevant in this segment.
Managing the supply chain is difficult for print magazine publishers, which can increase their operational costs. Furthermore, due to the decreasing circulation of magazines, it becomes difficult for magazine publishers to stay profitable, which results in closing their operations.
However, people still preferring to read printed magazines are driving the segment growth.
56% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for magazine publishing in APAC. Market growth in this region will be faster than the growth of the market in Europe and North America. As enterprises are launching new magazines in the region for marketing purposes will facilitate the magazine publishing market in APAC over the forecast period.
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