Lifestyle Magazines Market Assessment 2005
Key Note Publications Ltd, October 2005
The UK market for men's and women's lifestyle magazines is going through a highly dynamic period; there have been many major launches and much corporate activity during 2004 and 2005, which has had an impact on the overall market.
The improved performance has been due in large part to a dramatic resurgence of the men's lifestyle market, prompted by the launch in early 2004 of the two weekly magazines Zoo and Nuts. However, the women's sector has also shown a robust improvement, with a 10% increase in consumer expenditure during 2004.
Original consumer research into magazine readership and attitudes — which was undertaken in August 2005 — revealed that a third of all adults are loyal magazine readers, buying the same magazine every week or month.
17% prefer to browse the retail shelves, choosing a title according to what interests them in a particular issue. Nearly one in five (17%) are regular readers of specialist magazines and one in ten say that they find the advertisements in such magazines of particular interest.
Slightly fewer than one in five (18%) say that, although they do not buy magazines, they enjoy looking at them. Around one in five (19%) claim to have no interest at all in magazines, and one in ten say that they are too busy to read them.
Despite the recent growth in the magazine market, respondents are rather more likely to say that they now read magazines less than they did 5 years ago (at 19%) than they are to say that they read them more (at 13%).
Overall, the consumer research suggests that it is consumers in the 45 to 54 age group who are the most resistant to magazines; since they are a growing population segment, this is something that could be profitably addressed by the industry.
The pattern of dynamic launch activity that has characterised the market over the past 2 years is likely to continue at least in 2006, but this does bring the possibility of overcrowding in the market — the effects of which have been seen during 2005, with several new launches in both the men's and the women's market either struggling or having closed altogether.
A combination of this overpopulated marketplace with less favourable economic conditions and proposed changes to the magazine distribution system (which is expected to benefit larger retailers at the expense of smaller ones) means that a magazine price war is likely during 2006. Indeed, the cover prices of some magazines have already been reduced.
Consequently, the recent high growth levels in the market are unlikely to be sustained, but a steady increase in sales is still expected in both the men's and women's sectors over the next 5 years (2005 to 2009).
Executive Summary
1. Introduction
REPORT FOCUS
DEFINITION
2. Strategic Overview
MARKET DYNAMICS AND SEGMENTATION
Table 1: The UK Consumer Magazines Market Gross Revenue by Purchasers' Expenditure and Advertising Revenue (£m), Years Ending December 2000-2004
Figure 1: The UK Consumer Magazines Market Gross Revenue by Purchasers' Expenditure and Advertising Revenue (£m), Years Ending December 2000-2004
Table 2: The UK Market for Men's and Women's Lifestyle Magazines by Purchasers' Expenditure (£m), Years Ending December 2000-2004
Figure 2: The UK Market for Men's and Women's Lifestyle Magazines by Purchasers' Expenditure (£m), Years Ending December 2000-2004
DISTRIBUTION
Table 3: Average Weekly Expenditure on Magazines and Periodicals by Place of Purchase (£ and %), 1999/2000-2003/2004
COMPETITIVE STRUCTURE
MAJOR LAUNCHES
Table 4: Major Magazine Launches, 2004 and 2005
ADVERTISING AND MARKETING
Table 5: Advertising Expenditure in Consumer Magazines by Type (£m), Years Ending December 2000-2004
THE CONSUMER
Magazine Purchasing
MARKET FORECASTS
Table 6: The Forecast UK Market for Men's and Women's Lifestyle Magazines by Purchasers' Expenditure (£m), Years Ending December 2005-2009
3. Women's Lifestyle Magazines
BACKGROUND
MARKET SIZE
Table 7: The UK Sector for Women's Lifestyle Magazines by Purchasers' Expenditure (£m), Years Ending December 2000-2004
Figure 3: The UK Sector for Women's Lifestyle Magazines by Purchasers' Expenditure (£m), Years Ending December 2000-2004
MARKET SEGMENTATION
Table 8: The UK Sector for Women's Lifestyle Magazines by Subsector (%), Years Ending December 2000-2004
Weekly Magazines
Table 9: The UK Subsector for Women's Weekly Lifestyle Magazines by Purchasers' Expenditure (£m), Years Ending December 2000-2004
Monthly Magazines
Table 10: The UK Subsector for Women's Monthly Lifestyle Magazines by Purchasers' Expenditure (£m), Years Ending December 2000-2004
CIRCULATION TRENDS
Weekly Magazines
Table 11: Selected Women's Weekly Magazines by Average Net Circulation, January-June 2001-2005
Monthly Magazines
Table 12: Selected Women's Monthly Magazines by Average Net Circulation, January-June 2001-2005
CONSUMER TRENDS
Table 13: Adults' and Women's Attitudes Towards Magazines (% of respondents), August 2005
RECENT DEVELOPMENTS
Launches
Weekly Magazines
Monthly Magazines
Relaunches
Other Recent Developments
MARKETING AND ADVERTISING
Table 14: Main Media Advertising Expenditure for Selected Women's Magazines (£000), Years Ending June 2004 and 2005
4. Men's Lifestyle Magazines
BACKGROUND
MARKET SIZE
Table 15: The UK Sector for Men's Lifestyle Magazines by Purchasers' Expenditure (£m), Years Ending December 2000-2004
Figure 4: The UK Sector for Men's Lifestyle Magazines by Purchasers' Expenditure (£m), Years Ending December 2000-2004
MARKET SEGMENTATION
Table 16: The UK Sector for Men's Lifestyle Magazines by Subsector by Volume (%), 2004
Figure 5: The UK Sector for Men's Lifestyle Magazines by Subsector by Volume (%), 2004
CIRCULATION TRENDS
Table 17: Selected Men's Lifestyle Magazines by Average Net Circulation, January-June 2001-2005
CONSUMER TRENDS
Table 18: Adults' and Men's Attitudes Towards Magazines (% of respondents), August 2005
RECENT DEVELOPMENTS
Launches
Relaunches
Other Recent Developments
MARKETING AND ADVERTISING
Table 19: Main Media Advertising Expenditure for Selected Men's Magazines (£000), Years Ending June 2004 and 2005
5. Specialist and Leisure Magazines
BACKGROUND
MARKET SIZE
CIRCULATION TRENDS
Home-Interest Titles
Table 20: Selected Home-Interest Magazines by Average Net Circulation (000), January-June 2002-2005
Music and Film Titles
Music
Table 21: Selected Music Magazines by Average Net Circulation (000), January-June 2001-2005
Film
Table 22: Selected Film Magazines by Average Net Circulation (000), January-June 2001-2005
Computer and Gaming Titles
Table 23: Selected Computer Gaming Magazines by Average Net Circulation (000), January-June 2001-2005
CONSUMER TRENDS
Table 24: Regular Readers of Specialist Magazines (% of respondents), 2005
RECENT DEVELOPMENTS
Home Interest
Music and Film
Motoring
Computers and Gaming
Gambling
Sport
MARKETING AND ADVERTISING
Table 25: Main Media Advertising Expenditure for Selected Specialist Magazines (£000), Years Ending June 2004 and 2005
6. An International Perspective
OVERVIEW
7. PEST Analysis
POLITICAL FACTORS
ECONOMIC FACTORS
SOCIAL FACTORS
TECHNOLOGICAL FACTORS
8. Consumer Dynamics
OVERVIEW
Table 26: Summary of Attitudes Towards Magazines (% of respondents), 2005
Magazine Purchasing and Reading
Specialist Magazines
Product Endorsements and Brand Extensions
The Competition
Magazines Online
MAGAZINE PURCHASING HABITS
I Usually Buy The Same Magazine Or Magazines Every Week Or Month (S1)/When I Buy Magazines I Always Browse First, And Buy What Looks Interesting To Me That Month (S2)
Table 27: Magazine Purchasing Habits (% of respondents), 2005
I Don't Buy Magazines But I Enjoy Looking At Them (S3)
Table 28: Non-Purchasers of Magazines Who Enjoy Looking at Them (% of respondents), 2005
Specialist Magazines
I Regularly Read Magazines To Keep Me Up To Date On A Hobby Or Leisure Activity (S4)/I Find The Advertisements In Magazines Connected With My Hobby Or Interest Very Useful (S5)
Table 29: Readers of Specialist Magazines (% of respondents), 2005
PRODUCT ENDORSEMENTS AND BRAND EXTENSIONS
If A Magazine I Normally Read Were To Produce A Range Of Products I Normally Buy (e.g. Clothes, Sporting Goods, Household Items), I Would Be Very Interested In Buying Them (S6)
I'm More Likely To Buy A Product If A Magazine Recommends It Than If I Have Just Seen An Advert For It (S7)
Table 30: Attitudes Towards Brand Extensions and Advertising in Magazines (% of respondents), 2005
MAGAZINE-READING HABITS
I Read Magazines More Now Than I Did 5 Years Ago (S8)/ I Read Magazines Less Now Than I Did 5 Years Ago (S9)
Table 31: Changes in Magazine-Reading Habits (% of respondents), 2005
I Am Not Interested In Magazines (S10)/I Am Too Busy To Read Magazines (S11)
Table 32: Non-Readers of Magazines (% of respondents), 2005
Newspapers Carry So Many `Lifestyle' And Other Magazine Sections I Never, Or Very Rarely, Read Magazines (S12)
Television Programmes Deal With The Same Subjects As Magazines So I Never, Or Very Rarely, Read Magazines (S13)
Table 33: The Competition — Newspapers and Television (% of respondents), 2005
There Is So Much Information On The Internet I Never, Or Very Rarely, Need To Read Magazines (S14)
Table 34: The Competition — The Internet (% of respondents), 2005
MAGAZINE WEBSITES
I Often Visit The Websites Of Magazines I Normally Read (S15)/I Often Visit The Websites Of Magazines I Don't Normally Read (S16)
Table 35: Use of Magazine Websites (% of respondents), 2005
9. Company Profiles
H BAUER PUBLISHING LTD
Corporate Strategy
Advertising
Profitability
Recent and Future Developments
CONDÉ NAST PUBLICATIONS LTD
Corporate Strategy
Advertising
Profitability
Table 36: Financial Results for Condé Nast Publications Ltd (£000), Years Ending 31st December 2002-2004
Recent and Future Developments
DC THOMSON & COMPANY LTD
Corporate Strategy
Profitability
Table 37: Financial Results for DC Thomson & Company Ltd (£000), Years Ending 31st March 2002-2004
Recent and Future Developments
DENNIS PUBLISHING LTD
Corporate Strategy
Advertising
Profitability
Table 38: Financial Results for Dennis Publishing Ltd (£000), Years Ending 31st December 2001-2003
Recent and Future Developments
EMAP PLC
Corporate Strategy
Advertising
Profitability
Table 39: Financial Results for EMAP PLC (£000), Years Ending 31st March 2003-2005
Recent and Future Developments
FUTURE PLC
Corporate Strategy
Advertising
Profitability
Table 40: Financial Results for Future PLC (£000), Years Ending 31st December 2002 and 2003 and 30th September 2004
Recent and Future Developments
HACHETTE FILIPACCHI (UK) LTD
Corporate Strategy
Advertising
Profitability
Table 41: Financial Results for Hachette Filipacchi (UK) Ltd (£000), 78-Week Period Ending 31st December 2003
Recent and Future Developments
HIGHBURY HOUSE COMMUNICATIONS PLC
Corporate Strategy
Profitability
Table 42: Financial Results for Highbury House Communications PLC (£000), Years Ending 31st December 2002-2004
Recent and Future Developments
IPC MEDIA LTD
Corporate Strategy
Advertising
Profitability
Table 43: Financial Results for IPC Media Ltd (£000), Years Ending 31st December 2001-2003
Recent and Future Developments
THE NATIONAL MAGAZINE COMPANY LTD (NATMAGS)
Corporate Strategy
Advertising
Profitability
Table 44: Financial Results for The National Magazine Company Ltd (£000), Years Ending 31st December 2001-2003
Recent and Future Developments
NORTHERN & SHELL MAGAZINES LTD
Corporate Strategy
Advertising
Profitability
Table 45: Financial Results for Northern & Shell Magazines Ltd (£000), Years Ending 31st December 2003 and 2004
Recent and Future Developments
10. The Future
OVERVIEW
THE CONSUMER
MAGAZINE LAUNCHES
Women's Weeklies
Women's Monthlies
Men's Weeklies
Specialist Titles
MAGAZINE PRICES
FORECASTS
Table 46: The Forecast UK Market for Men's and Women's Lifestyle Magazines by Purchasers' Expenditure (£m), Years Ending December 2005-2009
Figure 6: The Forecast UK Market for Men's and Women's Lifestyle Magazines by Purchasers' Expenditure (£m), Years Ending December 2005-2009
11. Consumer Confidence
METHODOLOGY
THE WILLINGNESS TO BORROW
Table A: The Average Amount Consumers Are Willing to Borrow in Order to Purchase Expensive Items at Current and Constant November 2004 Prices (£ and £bn), November 2004, February 2005, May 2005 and August 2005
The Desire to Borrow is Waning
Table B: The Number of Adults Willing to Borrow in Order to Purchase Expensive Items (000 and %), November 2004, February 2005, May 2005 and August 2005
THE WILLINGNESS TO SPEND FROM SAVINGS
Table C: The Average Amount Consumers Are Willing to Spend from Savings in Order to Purchase Expensive Items at Current and Constant November 2004 Prices (£ and £bn), November 2004, February 2005, May 2005 and August 2005
Confidence is Fragile
Table D: The Average Amounts Adults Are Confident Spending to Purchase Expensive Items (£ and %), November 2004, February 2005, May 2005 and August 2005
The Extremes Contract
12. Further Sources
Associations
Publications
General Sources
Government Publications
Other Sources
Bonnier Information Sources
- H Bauer Publishing Ltd
- Condé Nast Publications Ltd
- DC Thomson & Company Ltd
- Dennis Publishing Ltd
- Emap Plc
- Future Plc
- Hachette Filipacchi (UK) Ltd
- Highbury House Communications Plc
- IPC Media Ltd
- The National Magazine Company Ltd (Natmags)
- Northern & Shell Magazines Ltd
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