Magazine Advertising Industry Overview
The global magazine advertising market size was valued at USD 11.50 billion in 2021 and is expected to expand at -4.5% from 2022 to 2028. Magazines have been regularly losing clients for years.
However, growing subscriptions to digital magazines are hampering market development over the forecast period. Moreover, rising customers' inclination toward economical or more affordable alternatives such as online publications over the last couple of years is impeding the market growth. Furthermore, magazine circulation drops in recent years all over the globe is the vital factor that restrains the growth of the market. The rising investment in print advertising by industry verticals such as Automobile, FMCG, and many others to create trust as well as nurture relations with existing customers is driving the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Magazine Advertising Market
Magazine advertising is the advertisements that the public see placed all over publications. The benefits of magazine advertising are their selectivity, exceptional reproduction superiority, creative flexibility, reputation, high participation of readers as well as services they provide to advertisers. The main benefit of magazines as a medium is the selectivity or their capability to reach a particular target audience. Magazine advertising has problems such as high prices of advertising, their restricted reach, and frequency, lengthy lead time for placing the advertisements, and the problem of growing heavy advertising rivalry and clutter.
Magazine advertising is one of the best powerful marketing mediums available, and an advertisement placed in a magazine can progress sales massively. As per Magazine Advertising price trends, large anti-dumping duties enforced by the governments in nations such as China, Germany, the US, France, and India will increase the price of exported magazine advertising. The continuous rise in crude oil cost will increase the cost of raw materials such as optical fiber, steel, PE, PVC, and aluminum. This will drive magazine advertising suppliers' production costs.
Magazine advertising is getting popularity in the advertising world as it generates brand awareness as well as praises the brand’s advertising operations on other platforms, which is estimated to drive the growth of the magazine advertising market. Though, the increasing penetration rate of smartphones along with affordable internet is quickening an online media platform which in turn has restrictions to the market growth. Moreover, stringent government regulations about magazine advertising will remain to hamper the market growth.
The fast growth in digitalization of media, and the public has moved from print to electronic channels is hampering the growth of the market. Additionally, large competition amongst the sellers of the print advertising industry is limiting the market growth. Moreover, the growing demand for creative as well as interactive print advertising is likely to drive the growth of the market. Advertisers mainly use magazine advertising platforms to reach a precisely targeted audience accelerating the growth of the magazine advertising market.
Magazines are mainly considered the most specific of all the ads media. The industry has often been termed as “survival of the discriminating.” The number of magazines has augmented constantly to serve the educational, entertainment, informational, and other particular requirements of customers, business as well as industry. Accessibility to an extensive range of magazines makes them relatively an attractive medium to a great number of advertisers. Moreover, magazine advertising is equally famous amongst large and small businesses. Their high-interest readers are generally willing to pay a premium for the magazines.
The COVID-19 pandemic has adversely affected the magazine advertising industry. As, governments all over the world imposed several limitations to try to contain the coronavirus, such as quarantines, travel bans, restrictions, shutdowns, and work-from-home orders. Furthermore, the pandemic and following slow economy affected some core magazine advertisers like promoting public events, retail, and movies. These groups cut back on their marketing funds, accelerating drops in advertising.
Browse through Grand View Research's Digital Media Industry Research Reports.
- Digital Newspapers & Magazines Market – The global digital newspapers & magazines market size was valued at USD 34.24 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.2% from 2022 to 2028. The increasing popularity of digital media such as digital publishing across the globe and rising consumers' inclination towards affordable substitute media like online newspapers and magazines are driving the market growth.
- News & Magazines App Market – The global news & magazines app market size was valued at USD 1.18 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.0% from 2022 to 2028. This can be attributed to the rising adoption of customized news feed across the globe. The surge in the adoption of an offline reading mode in the Asia Pacific is propelling market growth.
Magazine Advertising Market Segmentation
Grand View Research has segmented the global magazine advertising on the basis of industry vertical, and region.
Industry Vertical Outlook (Revenue, USD Million; 2017 – 2028)
- Financial Services
- Media & Entertainment
- Real Estate
Regional Outlook (Revenue, USD Million; 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global magazine advertising market include
- Gannett Co. Inc.
- Nine Entertainment Co.
- Axel Springer SE
- Conduit, Inc
- NEWS CORP
- Global Business Leaders Mag
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