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Consumer Magazines Market Report 2008
Key Note Publications Ltd, May 2008, Pages: 112
This report examines the UK consumer magazines market. Although the market remains strong, it became more competitive during 2007 as spending on magazines slightly declined and pressure to win advertising intensified. Key Note estimates that, in 2007, the total revenue of UK publishers of consumer magazines was £3.25bn, a decrease of 1.1% on 2006. The number of consumer magazine titles also decreased (by 1%) in 2007, to 3,409.
The consumer magazines market is dominated by the mass-circulation sectors such as television listings, women's weeklies, women's lifestyle and men's lifestyle. Other important sectors include teenage, music, motoring, cookery and home interests. In many sectors, publishers are struggling to maintain circulations; there have been steep drops in the circulation of some titles in the teenage and men's lifestyle sector, with readers being lured away by online entertainment and information. Meanwhile, the women's monthly sector has revived, but some titles are facing greater competition from the weekly magazines.
Key Note commissioned exclusive consumer research for this report, which explored consumer attitudes towards consumer magazines. One clear trend that emerged is the high percentage of young people who are reading magazines. The survey also showed that 12.1% of adults are buying more magazines in 2008 than in 2007, but a higher percentage (30.8%) are buying fewer magazines. Time may be a factor in this, but cost is likely to be another. 39.8% of respondents buy magazines as well as newspapers, and 8.7% buy magazines but hardly any newspapers — for a significant number of people, magazines are preferable to newspapers.
There were two key developments in the market in 2007. First, Emap PLC's consumer magazines division was bought in its entirety by H Bauer. Emap PLC was the second-largest consumer magazine company in the market and, in some ways, had helped to shape the market over the last 2 decades: 5 years ago, the demise of Emap would have been unthinkable. As such, this could provide a warning for other companies that are tempted to over-extend themselves. The second development was the relentless pursuit of online initiatives. This has included the creation of new websites and portals, as well as the development of existing ones. Downloadable editorial and advertising has also started to enter the market; two online magazines are prospering, and the industry is being kept guessing as to who will launch the next online title.
This report forecasts that the consumer magazines market will contract by 0.5% in 2008, before growing by between 0.2% and 2% year-on-year between 2009 and 2012.
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